You Can Get Cash From the ERC Today
Many people have waited almost a year to receive their funding from the Employee Retention Credit (ERC). You don’t have to wait for those funds if your business needs them today. There are several loan programs that allow business owners like you access cash loans before their returns even get to the IRS.
Frequently Asked Questions About The Employee Retention Credit (ERC)
Hello business owners! Have you applied for the Employee Retention Credit (ERC) yet? Maybe you've considered it but feel a little overwhelmed by the process. We've pulled together some FAQ's about the ERC that can help you understand what it is and how it benefits your business. Check it out!
Your Access to EIDL Portal & Records Ends May 16! (Access to PPP/PPP2 Reporting Also Ends Soon)
Did you receive a rapid covid Economic Injury Disaster Loan (EIDL) loan during covid? Be aware that the Small Business Association will close down the EIDL online platform on May 16th 2022. This is a friendly reminder that if you haven’t downloaded the documentation for your records from these platforms you’ll want to do it ASAP!
Three Ways to Prepare for an ERC Audit
Did you get cash disbursements for your business through the Employee Retention Credit (ERC)? Did you know that you could be audited by the IRS for the ERC? We anticipate seeing many ERC calculations audited over the next few years. An audit can be no big deal or a huge headache depending on how you prepare for it. Here are three ways to prepare for an audit.
Payroll Companies vs. Employers: Who is Liable for Errors when Filing for the ERC?
Did you know that as an business owner you are liable for all ERC calculations…even if you use a payroll company? You should also know that process for calculating ERC’s can be risky for anyone who doesn’t know how to navigate the IRS. Learn more here: https://www.opcteam.com/blog/payroll-companies-vs-employers-who-is-liable-for-errors-when-filing-for-the-erc
Take Advantage of the Employee Retention Credit (ERC)
Hello Business Owners! Are you taking advantage of the Employee Retention Credit (ERC)? The ERC is a refund for money paid out to payroll taxes during 2021 and 2022. It’s another (less advertised) disbursement that was issued by the IRS. And many businesses like you qualify. Business owners can get back up to $5,000 per employee in 2020 and up to $7,000 per employee for each quarter of 2021. That means if an employer with 10 employees qualifies during 2 quarters they can get back up to $140,000. We know what you’re thinking, why doesn’t every business know about the ERC?! Our thoughts exactly.
4 Tips to Improve Your Bookkeeping this Year
4 Tips To Improve Your Bookkeeping In the New Year
Free Workshop: PPP Loan Forgiveness, Work share, & Tools for Managing Employees
Many small businesses have heard of the PPP Loan Program. The CARES Act established this temporary program, along with several others, for retaining employees by expanding the traditional SBA 7(a) loan program. The loan will be fully forgiven if the funds are used for payroll costs and other misc costs according to the SBA.gov guidelines.
Paycheck Protection Program (PPP Loan)
Many small businesses are familiar with or have heard of the PPP Loan Program. The CARES Act established this temporary program, along with several others, for retaining employees by expanding the traditional SBA 7(a) loan program. The loan will be fully forgiven if the funds are used for payroll costs and other misc costs according to the SBA.gov guidelines. These requirements are changing constantly, please see link below for additional information and a complete listing of guidelines and requirements.