A change in regulations means that more churches and restaurants affected by the pandemic can claim up to $26K per W-2 employee in payroll tax credits, even if they previously received PPP, according to a tax specialist.
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Tax credit experts at Creative Business Systems LLC are urging churches and restaurant owners whose businesses were closed or partially closed during the pandemic to check their eligibility for Employee Retention Tax Credits (ERTC). Recently announced changes to the government’s stimulus package means that many business owners are unaware that they are entitled to the credit.
More information is available at https://getyourerctoday.com
The ERTC was established by the Coronavirus Aid, Relief, and Economic Security (CARES) Act, and provides a credit to business owners based on qualifying employee wages and health plan expenses paid after March 12, 2020 and before October 1, 2021.
Previously, employers could choose to apply for the Payroll Protection Program (PPP) or claim ERTC credits. The majority of small businesses, such as restaurants and churches with fewer than 500 employees, opted to receive the forgivable PPP loans.
However, the recent changes in regulations mean that businesses can now apply for both options. These changes are applied retrospectively, meaning that business operators of churches and restaurants could be entitled to up to $26,000 per W-2 employee.
New businesses who began operations after February 15, 2020, can also take advantage of the ERTC, claiming a maximum credit of $100,000.
Recognizing that time is at a premium for restaurant owners and those working in churches or faith centers, Creative Business Systems LLC’s specially designed online portal guarantees that applications can be processed in 15 minutes or less. The company specializes in maximizing Employee Retention Tax Credits for small to medium-sized business owners and provides audit-proof documentation.
“We wouldn’t have received our credit without the expert guidance of the Creative Business Systems staff.” one customer said. “As a busy restaurant owner, with over 80 staff on payroll, there’s no time to spend researching what these endless rule changes on tax credits could mean for us.”
“ The Creative Business Systems staff got us a tax credit of $400,000 – that’s money we didn’t even know we were entitled to, and it’s going to be a big help as we train more staff,” they added.
Those looking to file an ERTC claim or explore the qualifying criteria can find out more at https://getyourerctoday.com
Contact Info:
Name: Rick Farrell
Email: Send Email
Organization: Creative Business System LLC
Address: 4230 East Towne Boulevard #368, Madison, Wisconsin 53704, United States
Website: https://getyourerctoday.com/
Source: PressCable
Release ID: 89085925
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