Those of you who have already worked with me on the Employee Retention Credit (ERC), and it’s new Recovery Restart Business provision, know that, in spite of some delays and confusion, IT’S A LOT OF $$ - up to 70% of all employee wages paid by the government.
A good chunk of my clients will get more from it than the Paycheck Protection Program (PPP). It’s been a pretty heart warming experience.
But honestly I’m sad/angry/appalled that so many people don’t know about this program and, frankly, people without an accountant looking out for them are seriously missing out (it is more complex than the PPP for sure). If you have friends who have or are considering hiring employees, please make sure they know about this program, as it will likely be ending later this year.
In an effort to do one last round of outreach about it, I’m hosting this 90 minute workshop on the ERC On September 27th at 5pm PST (No one will be turned away for lack of funds - contact hello@brianfrankpdx.com for more details). My retainer and bookkeeping clients can attend for free, again, contact hello@brianfrankpdx.com for details.
Briefly, to qualify, your business must have w-2 employees (or hire them, like asap) and either:
- Have started your biz or non-profit after Feb 15th, 2020 (that’s literally it), or
- Had your income drop by 20% (of more) in a given quarter of 2021 vs your biz’s 2019 levels, or
- Had your business directly limited by government mandated capacity limits, curfews, in-door dining restrictions, etc
We'll get into WAY more details at the workshop - including how to ensure the ERC doesn't conflict with the PPP - hope to see you there!
(NOTE: Unfortunately, businesses with 1 owner and their family members currently do not qualify for the ERC under most circumstances).
