The Employee Retention Credit was introduced in the CARES Act that Congress enacted to help stabilize businesses in the wake of Covid-19. It is a refundable tax credit available to small and medium-sized businesses. As such, it is a grant and not a loan – you never need to worry about repaying the ERC. And, if your business received PPP you are still eligible to receive an ERC refund.
The funds were initially designed to help businesses retrain their employees in the aftermath of Covid-19 to ensure business continuity in a new world where social distancing and a lack of in-person services and interaction were the new normal. Note that the ERC is based on qualified wages and healthcare paid to employees
Many small and medium-sized businesses qualify for the ERC program. To qualify, you must have experienced a negative impact to business during COVID, including, but not limited to:
Are you ready to learn how much your business could be saving? Interested in exploring how ERC funds can help your organization grow? Let’s get started. Complete the form so we can reach out to discuss all your questions including,