The ERC is a great COVID relief effort, so why aren't there more eligible small businesses applying?
In this blog post, we discuss what it is, how it's expanded, and if you're eligible. Most importantly, we talk about how CSI Accounting & Payroll has helped applicants in the past (and can help you as well!) - no hassles, no worries.
Many Eligible Businesses, Few Applicants
Why are so many eligible businesses not taking advantage of this incredible deal?
Do they not know that they're eligible? Do they not know that they can earn up to a $100,000 tax refund that does not need to be repaid? Do they not know that CSI Accounting & Payroll can walk them through the process? We've already helped many of our clients get large sums of COVID relief money. We make it easy!
How much money has CSI Accounting & Payroll gotten for our clients?
- PPP loan 1 provided our clients who applied with over $6 million.
- PPP loan 2 brought in over $3 million.
- The ERC has hit over $1 million.
When COVID relief efforts first began, the ERC slipped under the radar due to the media's focus on stimulus checks and PPP loans. Similar to PPP loans, the ERC incentivizes businesses to keep employees on payroll, but unlike PPP loans, it does not need to be repaid.
In one of our previous blog posts, we discuss how the government has continually increased the ERC's outreach and benefits. The IRS says that the ERC is now expanding eligibility to include recovery startup businesses. New businesses (started on or after February 15th, 2020) can also earn up to a $100,000 tax refund.
So... do you qualify for the ERC?New businesses (started on or after 02/15/20) - find out if you qualify here.
Older businesses - you may still be eligible! Find out if you qualify here.
Ready to learn more?
At CSI Accounting & Payroll, we stay on top of the changes in COVID relief efforts in order to help our clients through this difficult time. Relief money means anything from recovering from a financial loss to helping your business keep its doors open!
Not to mention, coming on board as a monthly accounting client has tons of benefits over just annual tax accounting or even hiring an in-house accountant. Read more about the benefits here, and click the button below for a free consultation. Let's examine your situation to see if we can be a good fit for each other!