10 Frequently Asked Questions To Help Navigate the ERC..
1. What is the ERC?
Funded by the CARES Act. (Remember PPP?)
It covers portions of the years 2020 and 2021.
2. What are the benefits to me as a business owner?
Depending on what you qualify for, it pays up to $26,000 per employee.
3. But I already got money from the PPP program.
ERC is available regardless of whether you received a PPP loan!
4. Why did my accountant/CPA not tell me about this?
CPA's and accountants are busy and the ERC is detailed and complicated with many nuances.
Be sure to ask them. They likely will suggest you consult a specialist to guide you through the approval process.
A specialist can provide a very credible estimate of what you qualify for.
5. How much money can the 'average' business expect assuming it qualifies?
That's a difficult question but our clients have seen an average range of $85k to $150k and even over $1MM.
6. How long will it take to get this done?
After the submission of all the documents, you can expect 1 to 6 months. (It is the IRS!)
7. How much will this cost me?
The initial analysis to determine your eligibility and approx. credit, is Free. Our fee is a percentage paid from the total credit you receive from the IRS.
8. Is there a limitation on what I can do with the credit?
You can collect it as a tax credit or a cash payment and you can do as you please with the cash.
9. Do you have an example of a business that qualified?
Lots of them...General contractor received $364,283.71 for Q1 of 2020, he had 59 employees.
10. How do I apply to find out if my company qualifies?
Simple...Fill out a 10 question form to get started and we'll be in touch to discuss what else we'll need to calculate your qualifying status and credit amount.
Check out our Video: https://p.stoodaio.com/10questions
Brought to you by: The ERTCRecoveryTeam.com at MobileLocalSocialUSA