Patrick Killian of Marinhomeservicesguide.com recently came across a relatively unknown but very lucrative Federally funded program that gives a huge boost
to small businesses. It is a sister program to the PPP loans offered a couple of years ago. This program, called ERTC or Employee Retention Tax Credit program
, gives money back to employers who have kept employees on the payroll during 2020 and 2021. It's a gift from the government for keeping your business afloat.
Almost all small business employers are eligible for this program especially in California, where there have been shutdowns or stay at home orders, which helps you qualify. It?s called a tax rebate program, but the IRS will write you a check as well. Most local employers have gotten $50,000 and up. I recently helped a local engineering firm get approved for $350,000 in this program. There is no limit to how much you can be approved for, but you can receive up to $26,000 per employee for 2020 and 2021.
Even if you have received PPP loans, you are still eligible. All it requires is that you submit payroll documents in a very specific form. There is one downside to the program. It is complicated, you can?t do it yourself, even your accountants or CPA?s are not doing it. You need a specialized firm that focuses on getting these applications approved to be successful.
Receiving such a large infusion of money can be a real game changer for your business and for you personally. You can use the money however you like. There are no restrictions on how the money can be spent. You could use it to invest in your business or pay off debts. Or you could buy yourself a new car or go on a European vacation. It's up to you.
Patrick is an agent of one of the largest CPA firms in the country who specialize in helping local businesses make successful ERTC
claims to receive the rebate. They have already helped thousands of small businesses make their claim and receive a check or a tax credit.
Time is not on your side. Even thought there is a lot of money allotted to this program, the funds get used up quickly. The funds for these programs are dispersed on a first come, first serve basis. The longer you wait the more likely it is that you will have lost out on claiming the funds you could have received.
Patrick will be offering a Zoom webinar on September 27th at 8:30am.
Please register in advance for this meeting:
After registering, you will receive a confirmation email containing information about joining the meeting.
If you want to find out more about the program go to ERCSUBSIDY.COM