Ercymybiz.com is out to revolutionize the industry with the launch of its Employee Retention Credit (ERC), a new stimulus program announced by the federal government to help small business owners keep their employees on payroll during the ongoing COVID-19 pandemic.
One of the key benefits of the ERC is that it is similar to the Paycheck Protection Program (PPP) loan stimulus but with some key differences that make it even more advantageous for business owners. Unlike the PPP, which required businesses to spend a certain amount of money on payroll and other expenses to qualify for loan forgiveness, the ERC is a credit that business owners can claim on their taxes regardless of how they choose to use the money. This means that businesses can use the funds from the ERC to cover a wider range of expenses, including rent, utilities, and other operational costs.
Another advantage of the ERC is that it is available to a wider range of businesses than the PPP. While the PPP was only available to businesses with 500 or fewer employees, the ERC is open to businesses of any size as long as they have experienced a decline in revenue or any adverse events due to the pandemic (i.e., were closed or shut down for a day or more). This means that even larger businesses that have been hard hit by COVID-19 can take advantage of the program, which can be accessed through the website https://ercmybiz.com
To be eligible for the ERC, employees must have been on the payroll for at least 90 days during the 2020 calendar year and must have received wages of less than $10,000 per quarter. Business owners can claim a credit of up to $26,000 for each eligible employee who is retained on the payroll. The credit is available for wages paid from March 13, 2020, to December 31, 2020, and it can be claimed on the business owner's quarterly tax return or on their annual tax return.
The ERC is a valuable resource for business owners who are struggling to keep their doors open and their employees on the payroll during the pandemic. It offers a flexible and convenient way to access much-needed funds, and it is available to a wider range of businesses than the PPP.
Business owners with W-2 employees who have been affected by the COVID-19 pandemic are encouraged to visit https://ercmybiz.com to learn more about the Employee Retention Credit and how it can help their business.
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Company Name: Ercmybiz.com
Contact Person: Mike Storrey
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Country: United States
Website: https://ercmybiz.com
