Maximizing Employee Retention Credit Program at Bottom Line Concepts
Learn about the Employee Retention Credit (ERC) Program offered by Bottom Line Concepts. Discover how businesses can qualify for significant refunds up to $26,000 per employee for 2020 and 2021, even if they did not experience revenue reduction. Explore the process of identifying eligibility, generating leads, client success, data modeling, and submitting claims to the IRS. Benefit from this valuable information and government aid opportunity to boost your business in times of COVID-19.
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Presentation Transcript
Bottom Line Concepts Employee Retention Credit (ERC) Program
Table of Contents Company Overview: Bottom Line Concepts How do you know if a business is eligible? Most Relevant Industries for ERC How does the ERC process work? Example Client ERC Refunds Why BLC?
Defining the Employee Retention Credit (ERC) x At BLC, we launched a Government Aid Division to help businesses impacted by Covid-19 by Maximizing the Employee Retention Credit (ERC) Program. Multiple Years Available Significant Returns Up to $26,000 per employee Available for 2020 & 2021 6-10K per W2 if PPP 1&2 10--15K per W2 if PPP1 15-26K+ per W2 if NO PPP So, what is ERC? ERC is a stimulus program designed to help businesses that were able to retain their employees during the Covid-19 pandemic. Established by the CARES Act, it is a refundable tax credit a grant, not a loan that your business can claim. ERC is based on qualified wages and healthcare paid to employees. Government Funds Available Many Ways to Qualify Qualify with decreased revenue OR partial/full shutdown of business operations No limit on funding
How do you know if a business is eligible? Even if your business did not have a revenue reduction or was deemed essential .You can still qualify for ERC! Change in business hours Inability to visit a client s job site Partial or full suspension of your operations Suppliers were unable to make deliveries of critical goods or materials Shutdowns of your supply chain or vendors Additional spacing requirements for employees and customers due to social distancing Reduction in services offered Change in job roles/functions Reduction in workforce or employee workloads Tasks or work that couldn t be done from home or while transitioning to remote work conditions A disruption in your business (division or department closures) Lack of Travel or Lack of Group Meetings
How does the ERC process work? x 1- Lead Generation: Identify prospective clients, share ERC opportunity and contract 2- Client Success: Onboard the client to BLC and start their ERC journey The BLC team handled everything, from explaining the opportunity, to helping my team decipher what documents were needed, to calculating my refund! It could not have been a smoother and more efficient process! 3- Data Modelling & Quality Review Preparation of the Client Data Package CEO, Health Care Refund: $1,954,236.23 4- Client Confirmation & Signoff Client Attestation & 941x Signoff 5- Client Closeout & Submit to IRS 941x Filed and Refund Tracking
Why work with Bottom Line Concepts? 14 yr Track Record I didn t even know ERC was a thing until BLC reached out. And I m glad they did. Our team has a ton of pressure on them to keep our restaurant open and feed our community. Having this ERC refund was truly a lifesaver!! $2B+ ERC Claims to date I ve had ERC on my list for the last 3 months but did not have the time to get it done. The BLC took care of everything. They were professional, explained all my options and helped me get this done. Now I can stop worrying about missing out on this once in a lifetime opportunity.. $2B+ Recovered For Clients 12000+ ERC Clients GM, Restaurant Client Refund: $856,111.56 VP Operations, Gym Owner Refund: $1,466,976.34
Most Relevant Industries for ERC Gyms Healthcare Providers Hotels Moving Companies Restaurants Retailers Senior Living and Retirement Communities Sports Facilities Bars Car Washes Contractors and Construction Companies Dry Cleaners Food and Beverage Wholesalers Electricians Franchisees Cannabis
Example Client ERC Refunds We are proud to have worked for over 12,000+ ERC customers and have processed over 2B+ in refunds. Below are a few examples of real ERC clients and their returns . This could be your company! Retail Client Manufacturing Client $2,813,235.82 Restaurant Client $1,003,316.23 $1,903,385.58
