Bottom Line Concepts ERC Services

Find out if your business qualifies for the Employee Retention Credit.

Receive up to $26,000 per employee!

 

What You Need to Know About the ERC

What is the ERC?

ERC stands for Employee Retention Credit and it is a government grant given to qualified small and medium-sized businesses to aid in their recovery from the impact of COVID-19. This program is part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act and aims to help employers sustain their businesses and keep employees on payroll.

The ERC is a refundable tax credit. Computation of the amount of credit that each business receives is based on employees’ qualified wages and healthcare paid.

Who is eligible to claim ERC?

Only specific businesses that satisfy certain criteria are eligible to claim the ERC.

Your business is qualified if it was impacted in either of the following ways:

  • On account of government legislation in 2020 and/or 2021, your business had to undergo a change in operations
  • Gross receipts for your business declined significantly
    • For 2020 – Below 50% of the same quarter in 2019
    • For 2021 – Below 20% of the same quarter in 2019

Though not applicable to the same wages, employers who have claimed Paycheck Protection Program (PPP) loans are now also eligible to claim ERC.

How much credit can be claimed?

For 2020, qualified businesses can claim up to $5,000 per employee.

For 2021, per quarter, you can claim up to $7,000 per employee.

Can I still claim ERC if I already claimed PPP?

 Yes. Through the Consolidated Appropriations Act, it is now possible to claim the ERC even if you have already received a PPP loan. Previously, under the CARES Act of 2020, this was not the case.

Important to note that the ERC will only apply to wages not applied for the PPP.

Why do you need expert help?

The program is complex and has gone through several changes throughout the years. 

The ERC Program was initially a part of the American Rescue Plan Act in March 2021. At the time, employers had to decide between the PPP and the ERC. The ERC Program was revised and expanded further, and now, both can be claimed by eligible businesses.

There are many technical components that can be confusing. 

This can include determining certain things like which employees are eligible, what qualified wages mean exactly, and computing the maximum amount you can claim. Some cases might even require more intensive analysis. 

Are you certain you’re…

  • Maximizing your benefits to the full?
  • Going about the procedure correctly?
  • Or maybe you have many specific questions you want answers for?

We can give you definitive answers. Save yourself the hassle (and headaches). We’ll gladly help!

    To understand the ERC program better, watch the video below and learn how BLC can help.

    What We Can Do For You

    At Bottom Line Concepts (BLC), we have 13+ years’ experience in providing cost savings for our clients. Since 2009, we’ve brought $2.2+ billion dollars in recovery.

    As a response to the impact of COVID-19, on SMB businesses, and as part of our financial relief services, we created a division specializing in ERC expertise and managing businesses’ needs throughout the claiming process.

    Our goal is to maximize the ERC that you receive and make the process clear and smooth for your business.

    Here’s how we’ll get started:

    1. Determine whether your business is eligible to receive ERC
    2. Analyze your claim so we can make sure you’re getting the maximum amount
    3. Guide you throughout the process, from all the documentation and the actual claiming procedure

    We also provide consulting services.

    Our specialists have the expert know-how regarding the ERC and they will:

    Simplify the intricacies of the program across the numerous program changes

    Answer any additional questions you may have, including:

    • Do part-time, Union, and tipped employees impact the amount of refunds my business is able to receive?
    • What are the rules that apply to multi-state employers? How do the government orders from multiple states apply to my business?

    Want to find out how much credit you can claim?

    Click the button below and fill out the form.

    Frequently Asked Questions (FAQs)

    What period does the ERC Program cover?

    The ERC Program started on March 13th, 2020 through to December 31st, 2021.

     

    After December 31st, you can still potentially claim credits for 2020 and 2021. In some cases, clients were able to continuously receive ERC through December 31, 2021, at around 30% of payroll cost, on top of the refunds.

     

    Amounts received by clients range from $100,000 to $6 million.

    If my business did not incur a 20% decrease in gross receipts, does it still qualify for ERC?

    In this case, your business can still qualify if you had to change business operations due to government orders. Changes in operations include shutdown, job role shifts, and necessary purchases (e.g. protective equipment).

    If my business remained open during the pandemic, does it still qualify for ERC?

    Yes. Your business must fit either one of the below criteria to qualify:

    • On account of government legislation in 2020 and/or 2021, your business had to undergo a change in operations
    • Gross receipts for your business declined significantly
      • For 2020 – Below 50% of the same quarter in 2019
      • For 2021 – Below 20% of the same quarter in 2019

    Note that in this case, ERC applies only to Q3 and Q4 of 2021.

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