ERC or Employee Retention Credit is a credit that employers can claim if they retained their employees on the payroll even when their business was affected by government-imposed COVID regulations. Click here to learn more about ERC and its benefits.
As a small business owner, it’s important to understand what your eligibility is. If you’re unsure how to claim the credit, this blog post will show you how!
What is the Role of an ERC Specialist?
When small business owner is looking to reduce their tax liability, they have the choice of hiring an ERC specialist or taking matters into their own hands. The situation with selecting an ERC specialist is that it’s easier, but also more expensive. However, an ERC specialist is going to help you save some money and time.
Each business structure determines exactly who qualifies for ERC and what documentation you need to complete in order to qualify. ERC specialists take the time to research each tax structure (self-employed and employee) so that they can help you decide which option is the best for your business.
Tax preparation is a difficult task for anyone, but it’s even worse when you’re unfamiliar with the whole process! You should consider hiring an ERC specialist if you want to avoid any issues or mistakes.
Why You Should Hire an ERC Specialist?
As mentioned above, tax preparation is a difficult and time-consuming task for anyone. If you only have a small understanding of taxes, then it would be best to hire an ERC specialist.
For example, in order to qualify for the credit, you should have retained your employees on the payroll even when your business was affected by government-imposed COVID regulations. Since almost every business has been affected by COVID or some other regulation, hiring an ERC specialist will help ensure you claim the credit properly.
The ERC Specialist will spend time searching for the information you need and you can avoid any issues that could arise from improperly claiming the credit. You have several options available to you as a small business owner. In fact, you can either hire an ERC specialist or take matters into your own hands. There’s no right answer, but it’s always a good idea to explore all of your options before making any decisions by consulting an ERC specialist.
In addition to checking your eligibility, an ERC specialist also assist you throughout the process of applying for an ERC claim until you get the deserving benefits on your hands.
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