Your business can receive up to six to seven figures in refunds if they had to make adjustments over the last two years due to supply chain issues, capacity limitations, decrease in revenue or other pandemic related impacts.
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EMPLOYEE RETENTION CREDIT?
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Real Results from the Hospitality Industry
Hotel
Annual Revenue: $12.4 Million
ERC Qualifications
- Capacity limitations
- Reduction in services offered
- Shift in accommodations due to sanitation requirement
- Closing portions of or the entirety of a facility
Received: $125,000 credits
Restaurants
Annual Revenue: $13.4 Million
ERC Qualifications
- Capacity limitations
- Having to shift to delivery model
- Closing indoor dining areas
- Reducing hours
- Changing shifts for sanitation
Received: $742,000 credits
Fitness Facility
Annual Revenue: $1.3 Million
ERC Qualifications
- Capacity limitations
- Reduction in services offered
- Shift in accommodations due to sanitation requirement
- Closing portions of or the entirety of a facility
Received: $2.2 MM credits
What is the Employee Retention Credit?
Putting it simply, the Employee Retention Credit (ERC) is exactly what it sounds like—business owners are being rewarded for their efforts to keep employees on payroll during the pandemic. We are working closely with decision makers in Washington on this nationwide effort to help the U.S. economy not only recover from the pandemic, but to come back stronger than before.
Congress recently passed a $1.9 trillion COVID-relief bill to streamline this recovery, and the Employee Retention Credit is one of the most lucrative opportunities business owners should take advantage of as we work towards our future and leave this pandemic behind us.
Below you will find additional information to better understand the ERC, estimate your credits, understand how you can benefit, and start the process of working with alliantgroup.
Have you experienced any disruptions?
During the pandemic, many businesses in the Hospitality sector faced issues like:
- Full or partial govt-mandated shutdowns
- Supply chain issues
- Decrease in revenue
- Having to shift to delivery model
- Closing indoor dining areas
- Reducing hours
- Capacity limitations
- Closing portions of or the entirety of a facility
- Reduction in services offered
- Shift in accommodations due to sanitation requirement
- Inability to work with vendors
- Shift in hours of operation
How to Qualify
The ERC has gone through significant updates, so even if you or your advisor have reviewed this credit before, we encourage you to take another look with one of our specialists. Unfortunately, the program is not yet living up to its full potential because many business owners are prematurely disqualifying themselves due to misinformation and rumors about who does or doesn’t qualify.
The overarching theme for businesses to focus on is how the coronavirus pandemic impacted our economy as a whole…so even if your business grew or was deemed an essential business during the pandemic, there are more qualifying factors to look at before you disqualify yourself.
This payroll tax credit is available to essential and non-essential businesses in any industry who endured the effects of the pandemic. Government orders—on federal, state, and local levels—are a major factor that many business owners had to adapt to over the last year and a half. Examples of affected businesses include a restaurant that could not let customers dine indoors or a manufacturer that had to slow their operations due to new health and safety restrictions.
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Top 10 Mistakes to Avoid Before Claiming the Employee Retention Credit
Hear from our clients
Other providers wanted to charge us just to tell us how much we were qualified to claim. alliantgroup was different; they actually cared about our business and there have been no upfront costs whatsoever. They’ve treated us like family every step of the way and I’d recommend them to any restaurant owner.
Restaurant Owner
The return on our investment in the alliantgroup study was substantial. I’m happy to recommend alliantgroup because they did a great job serving my company as a consultant. Their team of tax experts will be an excellent resource for any other company.
Hotel Owner
Maximize your ERC Credit: Check if you qualify
We’ll help determine your eligibility, document your processes, and maximize your return for no upfront fees! Complete the form below to estimate your refund.