The Employee Retention Credit (ERC) is a stimulus program that has been specifically designed to provide assistance to businesses that managed to retain their employees throughout the Covid-19 pandemic. This refundable tax credit was established by the CARES Act and can be claimed by businesses. It is available for both small and mid-sized businesses and is calculated based on the qualified wages and healthcare expenses paid to their employees.
You can claim up to $5,000 per employee for 2020. For 2021, the credit can be up to $7,000 per employee per quarter.
The ERC has undergone multiple modifications and encompasses numerous technical intricacies such as determining qualified wages and employee eligibility, among others. Depending on your business’s specific circumstances, a more in-depth examination and analysis may be necessary. As a result of its complexity, you may be left with numerous unanswered questions.
However, we are here to assist you in comprehending it all. Our team of committed specialists will provide guidance and clarify the necessary steps you must take to ensure that your business can maximize its claim.
Get in contact with our team and tell us more about your business.
Submit your documents to our team.
Get your checks in the mail from the US Treasury.
The program's eligibility period for eligible employers began on March 13th, 2020, and will conclude on September 30th, 2021. After December 31st of this year, you may apply for refunds for both 2020 and 2021, extending into 2022 and 2023, and potentially beyond.
Our clientele has received various benefits from the program, with some receiving refunds only, while others qualified for continued ERC benefits in every payroll processed until December 31st, 2021, equivalent to roughly 30% of their payroll cost. Refunds for our clients have ranged from $100,000 to $6 million.
Certainly. The Consolidated Appropriations Act has made it possible for businesses to be eligible for the ERC, even if they have previously received a PPP loan. However, it is important to note that the ERC will only be applicable to wages that were not utilized for the PPP loan.
Your business was partially or fully shut down during 2020 or 2021 as mandated by a government authority. This encompasses restrictions on commerce, travel limitations, or limitations on group meetings.
The criteria for gross receipt reduction differs for 2020 and 2021 but is determined based on the current quarter's comparison to pre-COVID amounts from 2019.
Certainly. Your business can qualify for the program by meeting one of the following criteria:
Various modifications to business operations are considered, including changes in job roles and the acquisition of additional protective equipment.
GNC started their partnership with ERC For All in late 2019 with a simple call from the CEO and founder of the company, Josh Fox. The staff at ERC For All made the contract and onboarding process easy. Since late 2019, ERC For All has been able to recover a substantial amount of unclaimed property for GNC. GNC continues to explore additional opportunities with ERC For All and I would like to thank them for their efforts and great partnership.
When my firm invests in companies, we do our best internally to help those companies grow and become more profitable. We discovered that collaborating with Bottom Line enhanced that process for us. Each dollar saved, allows us to show a higher return to our investors over time. Bottom Line has worked with us on a number of our portfolio companies, in addition to our own internal costs. We continue to be impressed by the innovative ideas they share with us.
We engaged ERC For All to take an independent look at a few of our expense categories. In certain areas, we were pleased with the steps we had taken internally to achieve some level of cost savings on our own. In other areas, ERC For All opened our eyes to creative solutions we never could have envisioned on our own. I would like to take this opportunity to recognize the efforts, and more importantly the results obtained by ERC For All in working with Rolex. It is safe to say that their dedication, professionalism and most importantly the results obtained exceeded our expectations.
ERC For All has been an amazing partner who has helped with cost savings as well as tracking down funds which belong to us. Even with our thorough review of vendors and relationships they have been able to shed light in areas where we thought we could not improve any further. They have an extremely professional and reliable team that is always ready to help. Looking forward to building the relationship further and finding additional cost savings.
ERC For All has been helping us identify cost savings in a number of different areas and in a short amount of time has already identified six figure savings. Their staff members have been great to work with and have made the process seamless and easy, requiring only a limited amount of time and energy from our internal staff to manage the process. They have been a great partner of the Boston Red Sox and we are very pleased with their services.
The Government Programs that are part of the Cares Act can be very daunting and confusing to understand. Our franchisees were getting a lot of mixed messages and we were looking for a firm that could help educate them and guide them through the process. Bottom Line was extremely patient and diligent working individually with most of our franchisees to maximize their money during the pandemic. They were a great partner and we look forward to a long-lasting relationship.
ERC For All has terrific leadership and fulfills its promise to add value by contributing to the bottom line of your organization. They promised us positive results and delivered on their promise! There are very few no risk/all reward opportunities available today in the business world. ERC For All offers such a proposition!
We have worked with Bottom Line on a number of savings and refunds projects. Each of their programs required very little time and effort on our side, while delivering great results. Their team has always been courteous and attentive to our needs. Whenever we have needed something, they have gotten back to us right away. After all these years of working with them, we’re happy that we hired them.
We engaged the services of Bottom Line to assist us squeeze savings out of certain expense items – and they were successful in areas where we had no such awareness. While they scoured for additional savings opportunities, we initiated a major restructuring – and Bottom Line was both flexible and understanding of the impact that had on some of the savings’ opportunities that they were approaching. I highly recommend their services.
As a contingency-based cost savings firm, we offer a no-risk service that negotiates on behalf of our clients to obtain the most favorable prices from their existing vendors. Our team also conducts audits of past invoices to identify errors and procure refunds and credits for our clients. By improving our clients’ profitability and overall valuation, we aim to create a positive impact.
At our company, we are staunch supporters of animal rights, sustainability, and the protection of the environment for future generations. Our “Line Up For Charity” program provides our clients with the opportunity to donate a portion of the cost savings we generate to causes that align with their values. Additionally, we foster a work environment where you can make a meaningful difference.
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