The Employee Retention Credit Program
With Ohana Investment Partners
Learn more about the Employee Retention Credit. Eligible businesses could receive up to $26,000 per employee kept on payroll during the COVID-19 pandemic.
Do You Own A Small To
Did You Have Employees On Payroll During COVID-19?
Have You Applied
For Your ERC Funding Yet?
What Is The ERC Program?
The federal government established the Employee Retention Credit (ERC). The ERC program provides a refundable employment tax credit to help businesses with the cost of keeping staff employed. The ERC is a byproduct of the CARES Act.
ERC is a stimulus program designed to help businesses that were able to retain their employees during the Covid-19 pandemic. It was created by the CARES Act, and it is a refundable tax credit that you can claim for your business. This is not a loan. The ERC is available to both small and mid-sized businesses. Additionally, it is based on qualified wages and healthcare paid to employees.
Reminder: If you filed Form 941-X to claim the Employee Retention Credit, you must reduce your deduction for wages by the amount of the credit, and you may need to amend your income tax return (e.g., Forms 1040, 1065, 1120, etc.) to reflect that reduced deduction.
Am I Eligible For ERC?
Tons of small to medium-sized businesses will qualify for the ERC program. However, a lot of business owners are missing out on a valuable opportunity due to misinformation or, simply, outdated information. ERC qualifications and limitations have been changed by Congress multiple times since the introduction of the ERC.
You Still Have Time!
Take advantage of the three-year window that your company has to amend previously filed payroll taxes from 2020 and 2021. Claim your ERC refund. If you believe that you’re eligible for the ERC program, be sure to act fast before your time runs out. The Employee Retention Credit deadline for the 2020 tax year is April 15, 2024.
How Do I Apply For The ERC Program?
Applying for the ERC program has been made even easier by Ohana Investment Partners. We’ve explained how the ERC program works, what it is, why you may qualify and now we are going to give you a straight path to the application process. It’s easier than ever before to apply. Simply click the button below and follow the necessary steps to find out if you qualify.
How do I apply for the ERC?
Applying for the ERC is easy! Simply click either of the green buttons on this page and you’ll be re-routed to an ERC Specialist that we’ve partnered with. You can also CLICK HERE. Once you’ve been routed to the ERC Specialist, you’ll click the button that reads “find out if you qualify”, and follow the steps, to see if you’re eligible for the ERC program.
Do I have to pay back money I receive from the ERC?
Simply put, no. Unlike the PPP, the ERC (Employee Retention Credit) is not a loan. This is money for your business and it is up to you how you use it.
Can I still qualify if my business was profitable or deemed "essential"?
Yes! Whether your business is essential or non-essential, you can qualify. Also, whether you saw a profit or a loss during the time of the pandemic you are still qualifiable. Posting a loss is not a requirement to qualify for the ERC program.
How do I know if my business qualifies?
The IRS assumes that up to 80% of Small Businesses are eligible for the ERC. You may qualify if your business experienced disturbances to commerce, travel, or group meetings due to a government order. Supply chain disruptions, increased prices, hour reductions, reduction in goods or services offered, etc. are all reasons you may be eligible for the ERC program.
What would make my business ineligible for the ERC program?
The only businesses that are ineligible from obtaining the Employee Retention Credit are federal, state, and local government entities. Also, people that are self-employed are ineligible for ERC support. There are some nuances that may make you eligible if you are a self-employed person.
Do I qualify if I am a tax-exempt employer?
You can qualify for relief even if you are a tax-exempt employer. The ERC program is designed to keep people employed. So, your tax status does not keep you from applying or being approved.