Have You Faced Any Impacts?

Almost every business in NEW YORK 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.

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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 New York

EO 202.3: Stay at Home order

  • Restaurants, gyms, entertainment zones and movie theatres were instructed to cease all operations; and
  • Many businesses were forced to close, particularly those with indoor areas open to the public. Even essential businesses faced restrictions.

 

EO 202.6: Capacity limitations

  • Businesses were instructed to minimize in-person contact and reduce the number of personnel on site.

 

EO 202.45: Continuation of Stay at Home orders and capacity limitations

  • Non-essential gatherings were limited to 50 people, where indoor events could happen at 50% capacity.

Whitepaper

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
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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!