The Old ERC Rules Have Changed: Your Business May Now Qualify for a Refund from the IRS.
Let the Government Recovery specialists trusted by Rolex & the Los Angeles Lakers help you get the most out of the Employee Retention Credit (ERC) Program. See how the rules have changed:
March 27th, 2020
The ERC program was created under the CARES Act.
ERC was launched as a government stimulus program designed to assist business owners who were able to retain employees during the pandemic.
The credit was not made available to recipients of Paycheck Protection Program (PPP) funds.
Eligible business owners could expect a refund for 50% of up to $10,000 of qualified wages for every employee, calculated on wages paid from March 12th to to December 31st of 2020.
Large employers (defined as employers with more than 100 employees) could not use 100% of qualified wages in their ERC calculation.
December 27th, 2020
The Consolidated Appropriations Act (CAA) was signed into law.
The CAA increased the credit's value to 70% of up to $10,000 of qualified wages for each employee, per quarter.
PPP loan participants were now eligible to claim Employee Retention Tax Credits.
"Large employers" were now seen as businesses with more than 500 full-time employees.
March 11th, 2021
The American Rescue Plan Act of 2021 was signed.
This bill made start-up-businesses eligible for a credit of up to $50,000 for Q4 of 2021. Start-up-businesses were considered those founded after February 15, 2020 with an average of $1,000,000 or less in gross receipts. More businesses now qualify!
March, 2023 (Present Day)
More businesses are now eligible for ERC!
The credit is available for all 4 quarters of 2020 and the first 3 quarters of 2021 for non "Recovery startup" businesses
Businesses can now be refunded up to $26,000 per W-2 employee (up to $5,000 per employee in the year 2020, and up to $7,000 per employee per quarter in 2021)
Qualify if you experienced either a decrease in revenue or changes to business operations
There is no funding limit for this refundable tax credit - and unlike a loan you do not pay any money back
Have You Experienced Any of
These Operational Changes?
If you lost revenue or experienced any of these 11 operational changes, you may now qualify for a refund from the ERC Program.
Did social distancing cause you to enforce spacing requirements?
Did you face a reduction in either workforce or employee workloads?
Were there any changes in job roles or functions?
Did you reduce any services that you offer?.
Did you experience any supply chain or vendor shutdowns?
Did you experience a change in business hours?
Were there tasks that couldn't be done from home while you transitioned to remote work?
Were you unable to visit any clients' job sites?
Did you experience a lack of travel or group meetings?
Did you experience any division or departure closures?
Was there either a partial or full suspension of your operations?
Join the Family of Big & Small Businesses We've Had the Pleasure of Serving.
Help us reach our goal of helping 100 more small businesses thrive through turbulent times. Join the PureGood Family and see if you qualify for an ERC Refund!
After Maximizing Your ERC Refund, Get up to $1M in Bank Lending Within 5 days & Keep More Money in Your Business.
Here's How Our Revenue Roadmap Works:
Once we confirm that you qualify for an ERC refund we'll help you access flexible funding to fuel business growth until your refund arrives. Then, we'll show you how to keep more money in your business by reducing operational costs, protecting your cashflow, and generating more revenue. Take our 30-second PureGood Pre-Qual Quiz to see if you qualify to turn your ERC refund into even more money!
Our team of advisors will do everything in our power to
help you get funding & position your business for growth.
1
If you don't qualify for ERC, we'll see if our community bank partners can help.
If you don't qualify for the Employee Retention Credit program but still need growth capital, we'll see if you qualify for funding from our state-chartered community bank partners. Our partners provide small businesses with true-bank funding at lower rates and more flexible terms compared to other non-bank alternative lenders. Get funding within a week, without the collateral requirements & piles of financial paperwork associated with commercial bank lending!
2
If you don't qualify for our state-chartered bank funding program, we'll explore Start-Up & SBA funding.
Even if our true-bank funding program isn't the perfect match, startup funding may be a good fit for your business needs. Newer business and those generating under $200,000 in annual revenue are great candidates for start up funding. Find out if you qualify!
3
If none of our alternative funding programs are a good fit, we'll build you a custom credit-repair plan to improve your chances of securing future funding.
Our goal is to help you win, even if your business isn't currently eligible for the ERC or alternative funding programs. In the case that we aren't able to help you maximize your ERC or otherwise secure funding, our partners will help you improve your credit & boost your chances of getting funding in the future.
4
If you're already advertising online, we'll audit your customer acquisition program for free.
Helping you save money while growing is our primary goal. If you're already investing in search engine advertising we'll audit your account to find savings opportunities & consult with you on scaling strategies. Make sure your digital acquisition strategy is up to date, find out how much adspend you wasted on irrelevant clicks last quarter, and uncover scaling opportunities you can deploy to start driving customers & revenue growth. If you don't already have a search-marketing plan in place, we'll build one with you.
Maximize Your ERC Refund & Keep More Money!
Take Our 30-Second Quiz & Discover Exactly How to...
Maximize Your ERC Refund, Even if You Were Previously Told That You Don't Qualify.
Get Funded Up to $1Million Within 5 Days to Fuel Business Growth Until Your ERC Refund Arrives.
Reduce Operational Costs to Keep Your Business Bank Account Full Once You're Funded.
Protect Your Cashflow to Defend the Livelihood of Your Business & Take Advantage of Growth Opportunities.
Use ERC & Funding to Generate More Revenue With the Same Strategies We've Used to Help Big Brands Grow.
