• In light of the significant impact the COVID pandemic has had for many businesses large and small, the federal government has enacted various programs to help businesses recover .
• Have you heard of the Employee Retention Credit Program? ERC? The ERC is a grant, not a loan, that you can claim for your business based on qualified wages and benefits paid to your employees .
• How much money can you get back? You can claim ERC equal to 70% of qualified wages for 2021 and 50% for 2020 .
• The maximum amount per employee is $7,000 per quarter in 2021 and $5,000 for the year total in 2020 .
• Let's say your company has 100 employees and you took a PPP loan .
• We would be able to get you a total refund of approximately $1 million .
• How do you know if your business is eligible? Your business has to meet the following criteria .
• Have been in existence since February 15, 2020 and, based on the number of employees you had in 2019, have 100 or fewer full-time employees to claim ERC for 2020 and 500 or fewer for 2021 .
• If not, you may qualify for some benefits as a large employer .
• In addition, either one of the following should apply to your business .
• Fully or partially suspended operations or reduced business hours due to government orders .
• Experienced a significant decline in grocery seats due to the pandemic .
• For 2021, more than a 20% decline versus the same quarter in 2019 .
• For 2020, more than a 50% decline versus the same quarter in 2019 .
• The ERC has strict eligibility requirements, involves complex and technical details, and has undergone various changes since 2020 .
• This credit is favorable but complicated, and we at Bottom Line Concepts are here to help figure it all out for you .
• Here's what we will provide .
• Thurow evaluation regarding your eligibility, comprehensive analysis of your claim, guidance on the claiming process and documentation, specific program expertise that a regular CPA or payroll processor might not be well versed in, fast and smooth end-to-end process from eligibility to claiming and receiving funds, dedicated specialists that will interpret highly complex program rules and will be available to answer your questions, .
• including, how does the PPP loan factor into the ERC? What are the differences between the 2020 and 2021 programs, and how does it apply to your business? For larger, multi-state employers, what are aggregation rules and how do I interpret multiple states' executive orders? How do part-time, union, and tipped employees affect the amount of my refunds? And more The great news is our interests are fully aligned .
• We only receive a fee if you recover your money .
• Founded in 2009, Bottomline is North America's leading contingency-based cost consulting firm .
• We have worked with more than 10,000-plus clients and have successfully brought over $25 billion in savings since inception .
• Our new division government aid will make sure you're taking the right next steps in maximizing your claim for your business .
• Interested in finding out more or have any questions for us? .