Are You Entitled To
Almost every business in MICHIGAN was affected by COVID mandates that forced them to alter business operations. Due to these mandates, many of them qualified to claim significant cash refunds.
Your business might qualify for ERC credits if you’ve faced the following impacts:
- Full or partial government-mandated shutdowns;
- Supply chain issues;
- Decrease in working hours to sanitize facilities;
- Capacity limitations;
- Shift in hours of operation; and
- Decrease in revenue.
Need help with the employee retention credit?
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The Employee Retention Tax Credit (ERC) is a refundable tax credit designed to reward business owners for retaining employees throughout the COVID-19 pandemic. Unfortunately, many business owners are receiving bad advice on how they qualify. The ERC is still the most powerful incentive available but it must be appropriately documented and calculated. To ensure you are asking the right questions while choosing a provider, it is critical to understand the most common misunderstandings surrounding this credit.
To help you cut through the noise, we’re debunking the most common misunderstandings currently circulating in the ERC world. You should know that:
- Not every business qualifies for ERC
- You likely can't claim $26k for every employee
- Not every COVID impact qualifies a business
- Not every government guideline qualifies a business
- Claiming PPP affects how much ERC can be claimed
Case Studies
Equipment Manufacturer
No. of Employees:
128
TOTAL CREDITS EARNED:
$512,000
General Contractor
No. of Employees:
425
TOTAL CREDITS EARNED:
$1.2 MM
Industrial Process Consultant
No. of Employees:
14
TOTAL CREDITS EARNED:
$275,000
Michigan 2020-EO-21: Stay at Home order
Michigan’s Stay at Home order required workers of all non-essential businesses to remain at home. Even essential businesses faced restrictions similar to the following:
- Determining critical infrastructure workers and informing them (i.e., health workers, government personnel, and volunteers);
- In-person activities suspended until normalcy returns; and
- Businesses and operations needed to follow social distancing and other safety measures to protect workers and clients.
MI EO No. 2020-42: Extension of Stay at Home order
- Businesses couldn’t operate if their workers needed to leave their places of residence except if those workers were necessary to sustain or protect life or to conduct minimum basic operations;
- Businesses and operations that employed critical infrastructure workers could continue in-person operations; and
- Michigan’s Executive Order 2020-42 was only one of the extensions of the state’s Stay at Home order and while it allowed some businesses to start operations, it still retained restrictions on those operations.
MI EO No. 2020-77: Extension of Stay at Home order
- Businesses couldn’t operate if their workers needed to leave their places of residence except if those workers were necessary to sustain or protect life or to conduct minimum basic operations;
- Businesses and operations that employed critical infrastructure workers could continue in-person operations.
We are the leading experts in tax credits and incentives. Since 2002, we have helped US businesses grow their operations and stay ahead of the competition. To date, we have delivered billions in refunds to over 27,000 businesses.
800+ Industry Experts
Our professionals know your business inside and out and know what qualifies to ensure the most lucrative refund. No other firm offers professionals versed in your industry.
Four Former IRS and Division Commissioners
Our professionals know your business inside and out and know what qualifies to ensure the most lucrative refund. No other firm offers professionals versed in your industry.
Former Legislators
Our former policymakers understand the intent of tax law and why they apply to your business. As part of our team, they advocate for our clients and help them take advantage of federal funds. No other firm understands tax law to this extent.
By
Dean Zerbe
Former Senior Counsel to the U.S. Senate Finance Committee
DOWNLOADABLE RESOURCE
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We’ll discuss your eligibility and help estimate your potential tax benefit.
