How the ERTC Can Help Businesses Rebuild and Thrive

August 17, 2023
Dayes Law Firm

There are so many benefits to claiming the Employee Retention Tax Credit (ERTC/ERC) it should be no surprise that millions of claims have already been filed, according to the IRS. The Employee Retention Tax Credit can help businesses rebuild after the economic uncertainty of the first years of the COVID-19 pandemic, and ERTC teams like the one at Dayes Law Firm are focused upon helping businesses thrive thanks to the credit. 

How the Employee Retention Tax Credit Can Help Businesses Succeed

More than 2.5 million ERTC claims have come in since the program started, the IRS reported in July 2023. And thousands more are still pouring in. 

“The period of eligibility for the credit for affected businesses is very limited, covering only between March 13, 2020, and Dec. 31, 2021,” the IRS noted. The agency made it clear in a recent press release that they want to see “legitimate businesses receive the money they can claim legally under the law.”

Reputable tax professionals like the team at Dayes Law Firm and the IRS are aligned in that goal: helping businesses rebuild and succeed with funds they are legally entitled to via the ERTC program. 

The tax credit was enacted to help businesses during the first months of the COVID-19 pandemic and incentivize them to keep employees on payroll. In recognition of that, the Employee Retention Tax Credit program can give businesses a financial boost that could help them bounce back following a shaky financial period at the start of the pandemic. 

The credit maximum for the ERTC per employee is $7,000 for each employee per quarter in 2021 – equaling $21,000 in total. Add that to the maximum credit of $5,000 per employee in 2020 and, combined, you could potentially claim up to $26,000 per employee for your business, which could go a long way toward helping it rebuild after an uncertain economic period. 

The Employee Retention Tax Credit could help your business thrive by allowing you to add more staff members – creating a ripple effect by making you a job creator in your community. Using your ERTC refund, your business could also afford new equipment or pay off debts related to supplies your business needed in the past. 

Alternatively, your business could pay for new projects as a result of ERTC funds – from office remodels to new task forces and more. The sky is the limit when it comes to how the Employee Retention Tax Credit could benefit your business if you apply and receive a substantial refund amount. 

How Dayes Law Firm Can Help 

As said above, Dayes Law Firm sincerely wants to see businesses prosper as a result of the Employee Retention Tax Credit – and we want to help. 

Our team and our partner firms have already assisted many businesses when it comes to filing for ERTC refunds, resulting in millions in refunds for the business owners we have previously worked with. While there is still time to work with us to retroactively claim the credit for your business, deadlines to apply for the ERTC are approaching quickly. 

Contact us today for a free consultation to discuss the Employee Retention Tax Credit assistance your business may need. You can start by filling out the form on this page or giving us a call at 602-888-2900 to get in touch. 

At Dayes Law Firm, we want to support your business however we can, and we believe we can prove to you why we’re the right choice in an ERTC team to help you claim this crucial tax credit. Please give us a call to learn more!