Restaurants Eligible for Employee Retention Credits Up To $26K Per Employee
Better Than PPP Loans and Restaurant Relief Funds
Restaurants are eligible for Employee Retention Credits because perhaps no industry has been more adversely impacted by the COVID pandemic. Yet better publicized government stimulus and relief funds have been hit-or-miss for most U.S. restaurants.
This source of immediate cash flow relief for the restaurant industry, however, has been largely overlooked even though it comes with no strings attached and no repayment required.
Restaurants that have been required to close – fully or partially – OR that saw a 20% or greater reduction in 2021 quarterly revenues for quarters 1-3 are eligible for tax credits equal to 70% of the first $10K in quarterly payroll per employee for a total of up to $21K/employee retained on payroll through September 30. 2021 and up to another $5K/employee for 2020, for a total of up to $26K/eligible employee.
Cash flow benefit is almost immediate – first by eliminating all or some of the employer’s payroll (FICA) tax required payment and, if the credits due exceed payroll taxes due, by way of an IRS refund for the balance. You can even request an advance on this payment.
Click the button below to learn more about how the ERC can generate up to $26K/employee for your business…
Given the filing documentation requirements, this means that the time to get that process started is NOW. We can help prepare the required documentation and work with your CPA or accountant to get your cash flow benefit quickly.
And you can do it with minimal effort and without risking a dime. There’s no fee if we’re unable to find you savings.