Cares Act benefit update from The Jones Law Firm
What Is the
EMPLOYEE RETENTION TAX CREDIT(ERC)
And Why It Should Matter To Your Business?
Cares Act benefit update
from The Jones Law Firm
What Is the
EMPLOYEE RETENTION TAX CREDIT(ERC)
And Why Should It Matter To Your Business?
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The Employee Retention Tax Credit (ERTC) program was promulgated under the Cares Act.
Much like other programs that were made available under the Act such as the Payroll Protection Plan (PPP/EIDL) loans, the ERTC credit was established to reward businesses for staying open during the Pandemic.
The ERTC Program is the last meaningful benefit currently available to businesses in this country under the CARES Act!
Key Highlights:
- Businesses can now receive up to $33,000.00 per employee. We are finding the average award being somewhere around $16,000.00 per employee.
- You must employ 500 or less employees to be eligible for a ERTC payment. (exceptions do apply here, so do not immediately assume you are ineligible.)
- More than likely your business qualifies for a ERTC payment even if it did not experience a drop in revenue.
- More than likely your business qualifies even if you received a PPP or EIDL Loan.
We are finding that the average credit for a business is approximately $500,000.00. However, many businesses have qualified for millions of dollars.
Do the math yourself! This is how: multiply $16,000 (avg. credit per employee) by the number of employees the business has.
Example: 100 employees X $16,000.00 = $1.6 Million which represents a rough estimate of what this particular business should expect to receive.
The Employee Retention Tax Credit (ERTC) program was promulgated under the Cares Act.
Much like other programs that were made available under the Act such as the Payroll Protection Plan (PPP/EIDL) loans, the ERTC credit was established to reward businesses for staying open during the Pandemic.
The ERTC Program is the last meaningful benefit currently available to businesses in this country under the CARES Act!
Key Highlights:
- Businesses can now receive up to $33,000.00 per employee. We are finding the average award being somewhere around $16,000.00 per employee.
- You must employ 500 or less employees to be eligible for a ERTC payment. (exceptions do apply here, so do not immediately assume you are ineligible.)
- More than likely your business qualifies for a ERTC payment even if it did not experience a drop in revenue.
- More than likely your business qualifies even if you received a PPP or EIDL Loan.
We are finding that the average credit for a business is approximately $500,000.00. However, many businesses have qualified for millions of dollars.
Do the math yourself! This is how: multiply $16,000 (avg. credit per employee) by the number of employees the business has.
Example: 100 employees X $16,000.00 = $1.6 Million which represents a rough estimate of what this particular business should expect to receive.
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Legal Experience You Can Trust
At The Jones Law Firm, we are committed to exceeding expectations and providing our clients with the best possible legal services. Our firm is built on the principles of commitment, compassion, and hard work - our most important asset is you the client. We develop creative and well-detailed legal strategies that are implemented to help you succeed in your case.
Chad Jones
Founding Partner
Legal Experience You Can Trust
At The Jones Law Firm, we are committed to exceeding expectations and providing our clients with the best possible legal services. Our firm is built on the principles of commitment, compassion, and hard work - our most important asset is you the client. We develop creative and well-detailed legal strategies that are implemented to help you succeed in your case.
Chad Jones
Founding Partner
Legal Experience You Can Trust
At The Jones Law Firm, we are committed to exceeding expectations and providing our clients with the best possible legal services. Our firm is built on the principles of commitment, compassion, and hard work - our most important asset is you. We develop creative and well-detailed legal strategies that are implemented to help you.
Chad Jones
Founding Partner
Legal Experience You Can Trust
At The Jones Law Firm, we are committed to exceeding expectations and providing our clients with the best possible legal services. Our firm is built on the principles of commitment, compassion, and hard work - our most important asset is you. We develop creative and well-detailed legal strategies that are implemented to help you.
Chad Jones
Founding Partner
Copyright © 2022 The Jones Law Firm, PC. GLP Law Firm, PC. All Rights Reserved.
This is advertising material for legal services. Available to businesses that qualify for the ERTC credits that may be eligible for monetary compensation. This message does not constitute legal advice. Contacting us via our website does not create an attorney-client privilege. The choice of a lawyer is an important decision and should not be based solely upon advertisements.
Jones Law Firm 774 Avery Blvd, Suite B Ridgeland, MS 39157
Copyright © 2022 The Jones Law Firm, PC. GLP Law Firm, PC. All Rights Reserved.
This is advertising material for legal services. Available to businesses that qualify for the ERTC credits that may be eligible for monetary compensation. This message does not constitute legal advice. Contacting us via our website does not create an attorney-client privilege. The choice of a lawyer is an important decision and should not be based solely upon advertisements.
Jones Law Firm 774 Avery Blvd, Suite B Ridgeland, MS 39157