Unprecedented tax benefit for 2021
The Employee Retention Credit program should be on every small business’s accounting agenda in 2021. Developed out of the immediate need to ease small business losses during the Covid-19 crisis, the ERC federal tax program rewards qualifying businesses for retaining employees during each quarter of 2021. To help small businesses navigate the complex ERC provisions, Profitopia’s highly trained ERC Advisors provide free ERC consultations to companies and nonprofit organizations with fewer than 500 employees.
ERC is not a loan that needs to be repaid, but a financial stimulus benefit to help businesses and nonprofits stabilize and grow after the pandemic downturn. To take full advantage of this unprecedented and time-limited opportunity, do not delay in contacting us. At no cost to you, our ERC Advisors can determine if your business qualifies.
Leader in securing ERC cash
Few small business owners are aware of the ERC program – and even fewer know how to reap its limited-time financial benefits. The calculations for qualifying and determining employee retention credits are complicated. To help small businesses navigate the complex ERC provisions, Profitopia provides free ERC consultations to companies and nonprofit organizations.
Profitopia was among the first accounting firms in the country to decipher the hundreds of pages of legislation and requirements. We quickly became the go-to source to help qualifying businesses their cash payments quickly.
Profitopia’s accountants begin by analyzing a business’s eligibility and calculating their cash refunds. While your accounting firm may have limited experience with this new type of tax credit, we work with ERC every day and have been for months.
ERC provides tax credit payments up to 70% of an employee’s salary, or up to $7,000 per employee, per quarter, adding up to $28,000 for all of 2021. If you have 10 employees, that’s $70,000 credit per quarter/$280,000 per year
What are the Qualifications?
Qualifying companies and nonprofits must employ fewer than 500 people and must demonstrate at least 20% decline in 2021 gross receipts vs. 2019.
• No loan: No repayment requirement
• No applications: Easier than receiving PPP funds
• No cost upfront: If you would like Profitopia to file your Employee Retention Credit tax statement, our accounting fee is not due until you receive your money from the U.S. government.
This unprecedented legislation is very complicated and requires the help of seasoned tax professionals. We are working around the clock to help struggling small businesses to maximize the amazing benefits now available to them.
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Profitopia is a national and virtual full-service certified public accounting firm specializing in growth-focused accounting, auditing, tax, and consulting services for small businesses and nonprofits.
Call 888-778-6742 to explore Profitopia's fresh approach to accounting tailored to meet your needs and exceed your expectations while building your profits.