Employee Retention Credit
A stimulus for your business
The Employee Retention Credit (ERC) is a tax credit available for small business owners, LLC’s, S-Corps or 1099 employees. Similar to the $1200 stimulus check taxpayers received, this credit is designed to help small businesses during these trying times.
BENEFITS OF THE ERC
WILL NOT RUN OUT
Unlike the PPP, funding is unlimited. Anyone who qualifies and applies, will receive their credit
IT’S NOT A LOAN
You don’t need to worry about paying this back, or tracking how you use it. The money is yours
APPLYING IS EASY
Our team at COS Accounting will take care of all the boring details. We just need some information from you
The ERC will put thousands of guaranteed dollars in your businesses pocket
FAQ
Are the funds limited (like PPP)?
No, any small business can receive the funds, but you have to apply before December 31st
How much is the credit?
The credit can be up to $5,000 per employee, depending on their wages during the crisis
(We will take care of the nitty gritty and make sure you get everything you can)
How long does it take to receive the funds?
Right now, it typically takes 12-16 weeks for the money to arrive in your account
Can I get the ERC if I got the PPP loan?
Unfortunately, no. The ERC is only available for businesses that missed out on PPP
Is the ERC a loan?
The ERC is NOT a loan. It is a tax credit, meaning you don’t need to pay it back or track your spending
What Information do you need from me?
We ask questions to understand your business better, things like how coronavirus impacted your business, if you have received unemployment or PPP funds, and if you are married or have kids. All of this is to maximize your earning potential from the ERC
*You can see and fill out a copy of our ERC qualifier form here*
HAVE MORE QUESTIONS?
Schedule a call with a tax expert who will help you understand the ERC Tax Credit, answer your questions, and help you qualify.
I have complete confidence in COS accounting. They are truly experts. They have eased many of my business and personal financial stresses. I highly recommend them if you are looking for tax experts that can help you legally mitigate your tax liability.
– Brett P
