Have you not heard about the ERC yet? The Employee Retention Credit is a fully refundable tax credit that allows employers to claim 50% of qualified wages — including eligible health plan expenses — paid to their employees. This credit applies to qualified wages paid after March 12, 2020, and before January 1, 2021. Employers can claim up to $10,000 in qualified wages per employee for all quarters combined, meaning the maximum credit per employee is $5,000.
Who Qualifies as an Eligible Employer?
Eligible Employers are those operating a trade or business during the 2020 calendar year, including tax-exempt organizations, that meet one of the following criteria:
1. Experienced a significant decline in gross receipts during the quarter.
2. Fully or partially suspended operations during any quarter in 2020 because of government orders limiting commerce, travel, or group gatherings for commercial, social, religious, or other purposes due to COVID-19.
If you’re still unsure whether your business qualifies, you’re not alone. The important thing is understanding the benefits available to you. It’s worth discussing, and our representatives are ready to review whether your business is eligible.
Thinking of Starting a New Business?
This is the right time! As society resumes normal activities in safe ways, new business ideas are emerging quickly, offering innovative ways to serve the public while reducing health risks. Bring your business ideas to life and reach out to us for the funding you need to launch your next venture.
Financial limitations stop many entrepreneurs from moving forward, but there is another option. If you have a strong concept and decent credit, Small Business Loans and No Doc Loans may be available to you. Our mission is to equip you with the information and resources needed to make your idea a reality. Contact us — we have the knowledge and experience to help you secure the right funding for your small business. Visit our website or call to learn what financial options are available to help your business grow!
Unsecured Finances has over 10 years of experience in the consulting industry. We specialize in educating and assisting clients in obtaining Unsecured Business Loans and Start-Up Business Specialty Loans, including Unsecured No-Documentation (No-Doc/Stated Income) Loans, Unsecured Business Loans, and Unsecured Start-Up Business Loans. We also provide Lines of Credit ranging from $10,000 to $500,000 — all without requiring any assets.
Apply on our website to find out if you qualify, or call today for a free consultation: 1-888-294-2584
