Have You Faced
Any Impacts?
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 EMPLOYEE RETENTION CREDIT?
Fill out the form to receive more information
Making the best of Employee Retention Credit
The pandemic has profoundly disrupted the day-to-day commercial activity and distribution of goods and services across the entire country. These disruptions make many businesses eligible to benefit from the revamped Employee Retention Credit (ERC) in 2021. Moreover, the Consolidated Appropriations Act allows businesses to claim the ERC alongside PPP.
Real Client Examples
The following are examples from a range of industries:
MANUFACTURING FIRM
Annual Revenue: $17.4 Million
No of Employees: 46
CREDITS EARNED:
$217,000
RESTAURANT
Annual Revenue: $74 Million
No. of Employees: 317
CREDITS EARNED:
$1,030,000
FITNESS FACILITY
Annual Revenue: $1.3 Million
No. of Employees: 58
CREDITS EARNED:
$237,000
Understanding the different government mandates for Michigan
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.
WHITEPAPER DOWNLOAD
Top Ten Mistakes of Business Owners on Employee Retention Credit
What is included in the whitepaper:
- How to Qualify
- The New and Improved Covid Relief BIll
- Consolidated Appropriations Act of 2021
- Value of the Employee Retention Credit
- How to get $1000 per Employee
Calculate Your ERC Credit
Estimate Your Credits and Reduce Payroll Tax Before the Deadline to Claim
We have created a quiz to help you get a head start on estimating your credit.
Take our short quiz to get an idea of what this benefit can look like for your business today!
Ready to get started?
Schedule a free consultation with our team of experts to learn more.
We’ll discuss your eligibility and help estimate your potential tax benefit.