This podcast episode is about the Employee Retention Credit (ERC), a tax credit that was created to help businesses during the COVID-19 pandemic. The hosts, Michael and Steve, are experts in the ERC and they explain how businesses can qualify for the credit and how to claim it. They also share some personal stories about why they are passionate about helping businesses.
Here are some key points from the episode:
- The ERC is a refundable tax credit that can be worth up to $26,000 per employee.
- Businesses can qualify for the ERC if they experienced a decline in revenue in 2020 or 2021, or if they were forced to shut down due to government restrictions.
- The ERC is available to businesses of all sizes, including small businesses with only one employee.
- Michael and Steve have helped over 5,000 businesses claim the ERC, and they have recovered over $200 million in tax credits for their clients.
- They are passionate about helping businesses because they believe that small businesses are the lifeblood of the American economy.
If you are a business owner, you should listen to this episode to learn more about the ERC and see if you qualify. It could save you a lot of money.
- ntroduction (0:00 - 1:04)
- What is ERC and who is it for (1:04 - 5:20)
- ERC stands for Employee Retention Credit.
- It is a tax credit for businesses that helps them keep their employees on payroll during the COVID-19 pandemic.
- Small and medium businesses with up to 500 employees are eligible.
- How to apply for ERC (5:20 - 8:22)
- There is an online application that takes about 12 minutes to complete.
- A team of professionals will help you with the application and any troubleshooting.
- Deadline to apply for ERC (8:22 - 9:04)
- The deadline to apply for ERC is April 15, 2024.
- Why you should apply for ERC (9:04 - 12:24)
- Even if you don't think you qualify, it is still worth applying to find out.
- The average business owner has received over $200,000 in ERC refunds.
- About the speakers (12:24 - 14:44)
- Michael and Steve are both veterans who are passionate about helping businesses.
- Michael is the CEO of ERC Credits and Steve is the author of the book "Beyond Success".
- Conclusion (14:44 - 16:53)
- Michael and Steve encourage listeners to reach out to them for help with ERC.
- Steve shares his advice for success: focus on why you do what you do.
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Intro Song is “Connected" from the “Gratitude” Album by James Kevin O’Connor Music Row Recording Artisthttps://open.spotify.com/track/5u7vgVTItXKAJcNwImg7E4?si=90baa52f0bab468b&nd=1