ERC

How Ceterus can help now and moving forward.

The Employee Retention Credit (ERC) is a refundable tax credit for businesses that continued to pay employees while shut down due to the COVID-19 pandemic or had significant declines in gross receipts from March 13, 2020 to Dec. 31, 2021. Eligible employers can claim the ERC on an original or adjusted employment tax return for a period within those dates. Only recovery startup businesses are eligible for the ERC in the fourth quarter of 2021.

IRS guidance about the ERC is complex in application. What is clear is that a full ERC analysis should not be completed without a full PPP forgiveness assessment. This is not a small effort, for many entrepreneurs the relief may be substantial so the ROI will be worthwhile. It is key to evaluate each service provider to understand fully the nature of the service they are providing and whether they take a comprehensive approach to maximize ERC credits. This is not a time to leave money on the table.

Ceterus is prepared to assist after carefully reviewing all the guidance and the regulatory framework related to this program.

If you do not have PPP loans or have already applied for PPP forgiveness,
Ceterus can assist you with ERC.

  • Ceterus will assess your ERC eligibility for 2020 and/or 2021, taking into consideration your PPP forgiveness application (if relevant), and determine an approach to your ERC claim.
  • Ceterus will work with you to understand your PPP loans (first and/or second draw) and provide data to help support your ERC claim(s) for the relevant period. Our objective will be to optimize PPP forgiveness in combination with the ERC.
  • Ceterus will request various information and documentation from you. Once you provide that information, Ceterus will schedule a call to review circumstances, determine whether additional information is needed, and discuss and clarify the next steps.
  • Following submission of the background information, Ceterus will establish an approach to perform an analysis of ERC recapture.
  • Ceterus’ deliverables will be:
  • For ERC: summarized information to submit your claim(s) and underlying figures for IRS 941 amendment (and similar state form amendments) to share with your payroll service provider.
  • For ERC, Ceterus will:
  • be available to assist you with the application processes and available for inquiries you receive from your lender or the IRS
  • provide a recommendation for documentation retention to substantiate your applications.
  • Limitations:
  • Ceterus can not guarantee whether you will qualify for ERC or, where eligible, the potential amount of ERC credits.
  • Ceterus will use reasonable efforts to interpret and apply existing laws and regulations to assist customers to determine an approach for Employee Retention Tax Credits calculations. In practice, application of those laws and regulations and lender practices can be intensely complex. Ceterus will attempt to optimize outcomes for the customer but can not conclusively guarantee maximum outcomes.

If you’d like to know more,

please leave your name and contact information below and a member of our team will follow up.

    TESTIMONIALS

    Hear From Our Customers

    “I count on Ceterus to keep my books and file my taxes. Ceterus also helped me to navigate the challenges of maximizing the employee retention credit. They helped me identify more than I thought would be available to me.”
    European Wax Owner
    “I’ve been in franchising for over ten years and have worked with four local CPAs. My Ceterus CPA is by far the best I’ve worked with. He understands the business model and takes time to explain things to us and listens to our input, which we love.”
    European Wax Center Owner
    “I was spending too much time doing my books myself when I should have been focusing on the things I am best at. Having Ceterus take over my bookkeeping brings me much more value - if I ever want to sell my business, I know that I need a professional doing my accounting.”
    Great Clips
    “I joined Ceterus in October of 2017 after being with another company for 2 years. The difference in this company compared to any other out there is amazing. The excellent customer service is above and beyond but not only that the reports that are accessible to you online whenever you need them is great. I am not a great financial person so access to graphs and the customer webinars are extremely helpful. I am so happy I made the move and I now refer my friends.”
    Great Clips
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