Why don’t all Individual & Family Service Providers
qualify for the ERC?
You don’t qualify just because the pandemic impacted your business. Your industry, state, and circumstances determine whether you qualify for this credit and for how much.
You may not qualify for the entire $26,000 per employee, but you should still consider this incentive if you faced any of the following impacts:
- Switch to telehealth and telepsychiatry;
- Decline in hours of operations;
- Partial shutdowns and full closure of classrooms;
- Reduction in revenue;
- Cancellation of charity events; or
- Tour and in-person meeting restrictions.
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retention credit?
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What is the
Employee Retention Credit?
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. It is critical to understand the most common misunderstandings surrounding this credit.
5 Things to Know about the ERC
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
Real Client Examples
Retirement Village
Annual revenue:
$10 Million
No. of Employees:
237
TOTAL CREDITS EARNED:
$3 Million
Child Protection
Annual revenue:
$500,000
No. of Employees:
6
TOTAL CREDITS EARNED:
$74,000
Children’s Club
Annual revenue:
$1.6 Million
No. of Employees:
30
TOTAL CREDITS EARNED:
$56,000
Our Process
1.
A risk-free, no-cost assessment
2.
Cataloging applicable mandates
3.
Documentation of more than nominal impact
4.
Calculation of credit and accounting for other relief and incentives claimed
We actively work with business owners in every industry to help them claim this lucrative tax break, but not every business qualifies and we have rejected 1/3 of the claims we’ve reviewed because they fall short of IRS standards. Our team includes industry experts and former IRS commissioners bring insights that allow us to better assess if you qualify for this credit.
Why alliantgroup?
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.
Why Businesses Choose alliantgroup
By
Dean Zerbe
Former Senior Counsel to the U.S. Senate Finance Committee
DOWNLOADABLE RESOURCE
Top 5 ERC Mistakes to Avoid
Ready to get started?
Schedule a free consultation with our team of experts.
We’ll discuss your eligibility and help estimate your potential
tax benefit.
