Employee Retention Credit

A Message From Our CEO

It has been a whirlwind week...

of information overload and legislation, no doubt. I wanted to take a moment and provide further information about the Employee Retention Credit (ERC) included in the stimulus legislation. This credit appears to be a more accessible option for most employers than the Paycheck Protection Program (PPP). Since you may only take advantage of one or the other, it is important to make an informed decision. Very little information has circulated about the ERC, and we want you to know how powerful of an option it can be.

“...and some business owners have told me they believe this (PPP) process will be messy, unorganized, and will leave many potential businesses out of luck with limited funds available."

The now released rules for the ERC indicate that the savings offered can result in similar, and often even increased, cash back to your business, as compared to the PPP. It can even help businesses to whom the PPP makes no sense at all. Businesses of any size can take the ERC, though there are different rules for under/over 100 full-time employee segments. At a quick glance, the PPP can help many businesses, but the burdensome application process, reporting requirements, and documentation headaches tell a very different story. Because each business situation is unique, we are encouraging our customers to reach out and let HIREtech help you decide. This same offer applies if you are reading this and aren’t a customer. We want to help you, and our country, move forward. If PPP is right for you, we will make the recommendation. If the ERC is right, we can estimate the value for you, and as we have always done, fully manage all aspects of taking and using the credit. Remember, YOU CAN ONLY PICK ONE!

COVID19 Tax Credit Analyzer - Employee Retention Credit

As Tax Credit experts, HIREtech is here to help you navigate this new credit option, and other COVID19 driven cost savings and tax credits. We have developed a COVID19 Tax Credit Analyzer that will be released on our website on Monday, April 6th. The Analyzer intelligently factors in wages paid, shutdown days, employment levels, and other factors to calculate your potential savings. Using this tool, you will be able to easily understand the potential upside to both the PPP and ERC and compare options side by side; results guided by our 14 years of experience helping clients identify and capture the most valuable tax credit opportunities.

It is important to note that, when assessing and calculating this credit opportunity, you cannot “double dip” the same wages for both the ERC with the new Emergency FMLA Credit, Emergency Paid Sick Leave Credit, or Work Opportunity Tax Credit (WOTC). The HIREtech tax credit platform has already been updated for all new COVID19 Credits and WOTC offsets.

Once you have compared your options with the COVID19 Tax Credit Analyzer, you will be able to engage HIREtech immediately, should you choose to do so. If you are a customer, because we already have integrations and currently receive your payroll data, our technology and customer service teams will handle the tax credit process, with limited imposition on you and your business. You focus on your business and we will handle the rest, painlessly. If you aren’t a customer, that’s not a problem either. Just reach out to us below and we’ll get you up and running quickly.

You will be receiving much more information from us in the coming days via website and the HIREtech LinkedIn page. HIREtech is committed to helping our 70,000+ business customers and their neighbors in getting cash to assist during this pandemic. We have clients of all sizes and are working to help each of you navigate all aspects of this legislation and help you make informed decisions.

We strongly believe our people, technology, and expertise can genuinely help improve outcomes for our customers. We believe this mission is part of our HIREpurpose and we are working 24/7 to help each of you succeed during these challenging times.

"We strongly believe our people, technology, and expertise can genuinely help imprrove outcomes for our customers. We believe this mission is part of our HIREpurpose and we are working 24/7 to help each of you succeed during these challenging times."

Thank you,

Brian Cameron

CEO - HIREtech

If you are interested in learning more or wish to speak to someone, fill out the short form and a HIREtech'ian will reach out to you shortly.

We also hosted a webinar on this topic on Monday, April 6th at 12:30 PM EST.

If you missed it, click below to view.

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