The pandemic has been difficult for many businesses, with reduced store capacities, government lockdowns, and fewer customers walking through their doors. A new partnership launched by Ampifire and a team of ERTC specialist CPAs is helping New York businesses to recover some of their lost profits, by maximizing their pandemic relief fund claims.
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When the government started mandating that businesses close their doors, they also started working on federal relief programs that provide an incentive for keeping employees on the payroll. Using the new 15 Minute Refund program, employers can get rebates for up to 70% of the wages paid to their staff up to September 30, 2021.
While the ERTC program has been amended three different times by the federal government, each amendment has offered more benefits for small and medium-sized business owners. Originally, the program was only open to select businesses, and any company that enrolled in the Paycheck Protection Program (PPP) was ineligible.
That changed in 2021, and now companies that received a PPP loan can also claim tax credits, as well as businesses with up to 500 full-time employees on average. The ERTC program offers an additional advantage over the PPP, by providing employers with tax credits instead of loans. Tax credits have no restrictions on how they can be spent, and do not need to be repaid.
The 15 Minute Refund program from Ampifire offers several guarantees, including a guaranteed maximum allowable rebate, and a time commitment from employers of 15 minutes or less. It also comes with audit-proof documentation provided by the team or ERTC specialist CPAs.
Due to all the changes made to the ERTC since 2020, many employers are not sure if they qualify for a rebate. To find out, they can take a no-cost, no-obligation assessment that can be completed in approximately one minute. The assessment does not ask for any proprietary business information and only includes 10 simple questions.
Eligible companies can claim up to $5,000 per employee, per quarter for 2020, and up to $7,000 per employee, per quarter for 2021. Employers who kept staff on the payroll throughout the duration of the ERTC program may be eligible for as much as $26,000 per employee.
For more information about ERTC payroll services and the 15 Minute Refund program, please visit https://fountainpr.com/wordpress
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Boston New Times journalist was involved in the writing and production of this article.