ERTC for Restaurants: Are They Eligible

ERTC for Restaurants: Are They Eligible

The COVID-19 pandemic has been difficult for all of us to get through. However, for restaurant business owners like yourself, the stress was made even worse due to the responsibility of paying salaries to the staff. Thankfully, the US government has established several relief programs specifically for local business owners; nevertheless, these programs’ ever-evolving standards,…

ERTC: Potential Free Money For Churches

ERTC: Potential Free Money For Churches

As a direct consequence of the COVID-19 pandemic, many charitable organizations only survived because they complied with government directives asking them to cease operations or limit services temporarily. And while there is a widespread misconception that tax-exempt organizations are ineligible for a fully refundable government tax credit like ERC—this is certainly not true. Here’s a…

Government Money Available for Churches Through ERTC Program

Government Money Available for Churches Through ERTC Program

Due to the COVID-19 epidemic, some charity organizations only stayed afloat because they agreed with government regulations requiring them to suspend operations or reduce services temporarily. While people may think that tax-exempt organizations are ineligible for a fully refundable government tax credit, such as Employee Retention Credit, this is not true. What is Employee Retention…

Who Qualifies for the Employee Retention Tax Credit?

Who Qualifies for the Employee Retention Tax Credit?

The COVID-19 pandemic wreaked havoc on the world, and we are still reeling from the aftershocks. The economy went down, businesses went bankrupt, and many had to shut their operations to survive. This meant hundreds of unemployed individuals looking for work. To prevent this disaster from becoming worse, the US government introduced the Coronavirus Aid,…

What Is ERTC Eligibility, and How Do I Qualify?

What Is ERTC Eligibility, and How Do I Qualify?

Introduced in 2020, the Employee Retention Tax Credit (ERTC) was part of the Coronavirus Aid, Relief and Economic Security (CARES) Act. This credit was introduced to help businesses keep their employees on payroll during the COVID-19 pandemic, which effectively shut down the world. Congress passed the ERTC to prevent the irreparable financial loss and mass…

Employee Retention Credit and PPP

Employee Retention Credit and PPP

Toward the end of 2020, 11,475,003 PPP loans were outstanding, with the approximate debt amounting to $69,087 per person. In addition to the Payroll Protection Program, employers can benefit from ERC, which are tax-deductible—specific credits designed to help companies keep employees on the job during the COVID pandemic. However, surprisingly, just 8% of company owners…

How Do I Apply For ERC Tax Credit?

How Do I Apply For ERC Tax Credit?

The COVID-19 pandemic dramatically altered the corporate world. Many small and medium-sized business workers had to be laid off; as a result, the government launched several programs to help companies survive the current economic storm. One such government initiative is the Employee Retention Tax Credit (ERTC). Even though the ERTC program has several advantages, the…

Main Street Small Business Tax Credit Still Available

Main Street Small Business Tax Credit Still Available

The impact of the COVID-19 pandemic is still visible. Across the globe, 43% of businesses temporarily and permanently closed due to the financial crises caused by the COVID-19 pandemic. Employers had to lay off employees to make ends meet or completely shut down their businesses. The government started many relief programs to facilitate businesses and…