Hey there peeps! It’s Dr. Nicolle here!
Quick question… Have you heard of the ERC program? Actually it’s called the Employee Retention Credit program? Well… I wanted to ask you all about this because I just heard about this last week.
The PPP and ERC Programs
So, as you know, the government created the PPP and the ERC programs during the pandemic through the CARES Act. Many of you may be familiar with PPP, also the called payment Protection program. And you know many people that had small businesses applied for that government money. Well… at that time… you were only able to either apply for the ERC program or the PPP program, and as you know, most people applied for the PPP program. You could not apply for both.
Well, when the Biden administration took over, they opened it up to where now you can apply for both! New legislation was passed in March 2021 from the American Rescue Plan which revised the original ERC program in the CARES Act of May 2020, where the employer had to choose between the PPP and the ERC.
The 2021 legislation expanded, extended, and enlarged, the ERC program and allows eligible employers to benefit from both the PPP and the ERC. Many people don’t know that this change happened! So I’m telling everyone right now. Go and get your coins if you qualify!
To qualify, you must have three things:
1. You have to have been in business before February 15, 2020.
2. You have to have at least 5 full-time W2 employees or more.
3. You had to have any organizational change in your business. For example, you had to change your business hours, you had to close down temporarily, you had supply chain issues like deliveries weren’t made, you had to miss client meetings. Anything that caused a change in your business that affected your bottom line.
Some things to note…
1. This is not a hand-out. It is a non-taxable grant on the taxes that you’ve already paid.
2. You have the potential to receive about $10,000 per employee.
The ERC Program with Bottom Line Concepts
I also wanted to let you know that i know of a business called Bottom Line Concepts, and they are helping businesses apply for the ERC program:
The ERC Program with Bottom Line Concepts
So if you are interested in learning more about the ERC program, your potential eligibility for your business, and the possible money that you can receive, click the link below, fill out the quick form, and a Representative from Bottom Line Concepts will contact you:
The ERC Program with Bottom Line Concepts
The IRS Extends COVID Tax Credit
And, I know you like to stay informed and see the facts. Click on the link to the IRS website below for more information about the ERC program:
The IRS Extends COVID Tax Credit for Employers
Alright everyone, I hope this helps. Take care and stay healthy!
Dr. Nicolle
