Do you know about the ERC? It’s called the Employee Retention Credit grant. I believe small businesses need more financial support. Would you like help?
This grant is a part of the CARES Act, it has been extended. It covers the years for 2020 & 2021, you can claim up to $26,000 per employee on your payroll (depending on actual wages paid and healthcare).
If you have not claimed ERC even if you got PPP, you still might qualify for this grant.
Did you have:
- A change in business hours
- Partial or full suspension of your operations
- Shutdown of supply chains
- Reduction of services offered or cut back of employee hours
- Did you have to close
- Have the inability to visit a clients job site or office
- Change in job roles or functions
- Tasks or work that’s couldn’t be done from home while transition to remote work
- No more travel or group meetings
The most relevant industries are:
- Auto repair shops
- Commercial buildings
- Contractors & Construction co.
- Country clubs or social events
- Dr / Vet offices
- Moving co
- Restaurants / Bars
- Event organizers
Bottom Line Co. is assisting companies recover taxes and wages they have already paid on their W2 employees. Since the start of ERC, Bottom Line has filed over 13,000+ claims on behalf of small businesses for grants totaling over $2.1 billion. Still not enough small business know about this grant.
This is why I am writing about this to my readers, please share this information. Why should BIG businesses get the money? I know are are plenty of restaurants who reduced or closed their businesses.. Do you know about the ERC? Read the articles.
These articles will provide additional background on recent developments with the ERC program:
Want to see how much you could get back, book a 15 minute appointment They will answer all your questions and get you on your way.
Thank you for sharing and helping your business neighbors to recoup so perhaps they can re-start.
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One other short one, if you have any questions about what to do about business problems, starting up or ?? Consider signing up for a SCORE mentor meeting. I am becoming a SCORE Mentor Volunteer.. this is a great opportunity for you as well.
Until next time, if you would like help reach out to Bottom Line Tax Specialists