The federal government established the ERC to provide a REFUNDABLE employment tax credit to businesses financially impacted by the Covid-19 pandemic
WE OWN 3 CAR
DEALERSHIPS. OUR CPA
REFERRED US TO RETIREMENT PROTECTION SVS TO ASSIST US
WITH THE ERC AS THAT IS
WHAT THEY SPECIALIZE IN.
WE HAVE QUALIFIED FOR
OVER $2.4 MILLION DOLLARS
AND WE STILL HAVE THE 3RD
QUARTER OF OCTOBER TO
FILE FOR SHORTLY!
— J BELL OWNER AUTOMOTIVE INDUSTRY
What you should be asking: How many ERC's have you filed? Are you familiar with the complexities of ERC? Have you read the 100's of pages of IRS guidance?
NO! However, wages equal to the amount of the ERC are subject to expense disallowance rules. A taxpayer's wage deduction for a taxable year must be reduced by the amount of the ERC related to that taxable year