ERC Specialists

The Employee Retention Credit (ERC) has been a hot topic of discussion throughout the outbreak. However, many businesses feel ineligible for the credit, and even more still need to be.  You may have been bombarded with emails, text messages, and phone calls claiming that your business or group is eligible for federal funding.  We want you to understand all the intricacies, whether you're too busy to focus on it or need to know if your business is ready to start. As you do so, consider how the ERC credit may apply to your situation.  ERC: Employee Retention Credit ERC Tax Services is a refundable payroll tax credit for businesses that can demonstrate that COVID-19 has impacted them. ERC is available to both for-profit and non-profit organizations. The Coronavirus Aid, Relief, and Economic Security (CARES) Act created the credit in March 2020 to provide financial assistance to businesses that keep their employees on payroll. despite the COVID-19 outbreak. The ERC will be accessible

The Covid-19 outbreak has greatly affected businesses across the country. Despite the government's ongoing efforts to provide relief programs, many businesses fail to take advantage of these opportunities. Among multiple relief programs, ERC Credit is the major one and has been helping businesses of all sizes stabilize their operations again. Therefore, to keep you updated on ERC benefits, we will introduce you to the latest updates on the ERC program. Let's get started now! Expansion of Eligibility The ERC has undergone significant changes to expand eligibility criteria, allowing more businesses to benefit from the credit. Previously, businesses that received Paycheck Protection Program (PPP) loans were ineligible for ERC credit. However, recent legislation has removed this restriction, enabling businesses to claim the ERC benefits and PPP loan forgiveness, providing much-needed relief to struggling employers. Increased Credit Amounts The ERC has seen a boost in the maximum

It can be challenging for any business to figure out ERC qualifications independently. However, they must understand the criteria that they must meet to receive Employee Retention Credit and assess the wages that qualify for it.  According to the IRS, the qualified wages will be those that an employer will pay its employees as compensation. It can also include healthcare coverage paid by the employer to its employees.  Double dipping, sometimes called tax provision, will not qualify for ERC requirements. Additionally, qualified group insurance premiums and other qualifying production activity payments will be a part of qualified wages.  The qualified wages for ERC in 2023 The wages paid to employees by employers qualified for the tax cut will be qualifying wages. The amounts you pay as Contributions to employee healthcare programs will be a part of qualified wages.  The amount of ERC credit available to a business depends entirely on how many full-time employees it has. Large business