American Retention Credit - Versa Business Systems - Maryland

1. AMERICAN RETENTION CREDIT The American Retention Credit serves as a lifeline for businesses grappling with the economic fallout of the COVID-19 pandemic. By providing financial relief, incentivizing workforce retention, and offering flexibility in eligibility and application, the credit gives much-needed support to businesses striving to weather the storm and emerge stronger on the other side. www.versabusinesssystems.com

2. About Us ERC is a stimulus program designed to help those businesses that were able to retain their employees during the Covid-19 pandemic. Established by the CARES Act, it is a refundable tax credit – a grant, not a loan – that you can claim for your business. The ERC is available to both small and mid-sized businesses. It is based on qualified wages and healthcare paid to employees. The Employee Retention Credit, often referred to as the American Retention Credit, is a tax credit designed to provide financial relief to businesses affected by the pandemic. By understanding the Earned Retention Credit and its nuances, businesses can determine if they are eligible and how much they can claim. www.versabusinesssystems.com

3. Designed to incentivize businesses to retain employees and maintain payroll during times of financial uncertainty, the American Retention Credit provides eligible employers with a valuable tax credit that can help offset payroll expenses and support workforce retention efforts. In this blog post, we'll explore the key components of the American Retention Credit and how your business can benefit from this important financial assistance program. What is the American Retention Credit? The American Retention Credit, also known as the Employee Retention Credit is a refundable tax credit introduced in 2020 as part of the Coronavirus Aid, Relief, and Economic Security Act. The credit is designed to provide financial relief to businesses that experienced significant disruptions due to the COVID-19 pandemic. Eligible employers can claim the credit against their share of Social Security taxes for wages paid to employees during qualifying periods. Who is Eligible for the American Retention Credit?

4. Benefits of the American Retention Credit for Businesses • The American Retention Credit offers several benefits for businesses struggling to navigate the economic challenges of the pandemic: • Financial Relief: The credit provides much-needed financial relief to businesses facing cash flow constraints, allowing them to offset payroll expenses and preserve working capital. • Workforce Retention: The credit helps prevent layoffs and furloughs by incentivizing businesses to retain employees, maintaining continuity in operations, and preserving valuable talent. • Flexibility: The credit is available to a wide range of businesses, including small businesses, nonprofits, and governmental entities, providing flexibility in eligibility and application. • Simplified Process: The IRS has streamlined the process for claiming the credit, making it easier for eligible employers to access this valuable financial assistance.

5. Email info@versabusinesssystems.com Phone (410) 864-8034 Thank You. Address 9635 Philadelphia Rd Suite 100, Rosedale, MD 21237 www.versabusinesssystems.com