Ever wondered: How do I finance my business in this post-pandemic world?

Cash flow and business funding is what many small businesses need to stay afloat.

If you’re depending on the federal government for more COVID relief, your business financing options are diminishing

• We’ve had 2 rounds of COVID-19 PPP loans. If you didn’t get it, it’s too late now.
• SBA is no longer processing COVID-19 EIDL loan increase requests or requests for reconsideration of previously declined loan applications.
• Banks are failing, so the financial industry is pulling back on lending to small businesses.
• The federal government default deadline is imminent and they’re considering debt limit increases.

Don’t look to the federal government for budgetary guidance. There are always debt ceiling negotiations at the last minute and plenty of political posturing. Small businesses in America, by necessity have to be more diligent and prudent about their spending. And they have no money to print and not debt ceiling to raise.

Like the federal government, many small businesses invested in helping people get through the pandemic shutdown. Business owners courageously decided to continue to pay their employees in the face of revenue loss and financial uncertainty.

Many of these same businesses are still struggling to recover from the impact of the pandemic.

For a limited time, the federal government has set aside money to reward business owners that kept their W-2 employees on payroll during the pandemic. The Employee Retention Tax Credit (ERC / ERTC) program was set up in 2020 for that purpose. Employers can get a rebate on the payroll taxes paid.

When considering ways to finance a business, you might think of small business grants. The ERC is similar to a grant, because it does not have to be paid back.

You may have gotten PPP loan forgiveness.

But that only worked if you followed all the rules about how to use the money. And then you had to apply for forgiveness.

None of that is required with the ERC, because it is a payroll tax credit. In essence, you’re getting a rebate of payroll taxes paid in 2020 and 2021. So the checks come from the Internal Revenue Service.

In 2020, this program for  covid tax relief for businesses. Initially it was not open to businesses who got the PPP loans. But new legislation in 2021, allowed more businesses to qualify.

• If your accountant or CPA said you did not qualify for the employee tax credit in 2020, you need to check the new rules to qualify.
• If you were told you didn’t qualify for the Employee Retention Tax Credit because you did not lose revenue, you need to let ERTC Express take a second look.

There are ways other than revenue loss to qualify. We’ve had clients who got their payroll tax credit despite having made money during the pandemic.

Is the employee retention credit worth it?

You can get a maximum of $26K per employee!

To find out how much of that $26K you can get, all you have to do I upload your documentation. If you’re am employer with W2 employees, you know you must file 941 forms quarterly. We’ll need those forms for quarters in 2020 and 2021. We’ll also need a payroll journal and PPP loan forgiveness info.

Let us your our specialty and expertise in the Employee Retention Tax Program to get you the maximum payroll tax credit allowable. Then you sit back and wait (months) for the IRS to do it’s processing.

Start you ERC / ERTC application now, while there is still funding.

In a world of dwindling options, one of the ways to finance your business, is to get an infusion of cash in the form of COVID relief checks from the Internal Revenue Service. It can help answer the question:  how do i finance my business? Get what’s owed you now!