The Employee Retention Tax Credit has been at the forefront of the services we have been offering our clients recently. The ERTC was approved last year by the Federal Government as a way to reward businesses who kept their employees on their payroll throughout the uncertain times that Covid-19 presented.
The Employee Retention Credit under the CARES Act encourages businesses to keep employees on their payroll. The refundable tax credit is 50% of up to $10,000 in wages paid by an eligible employer whose business has been financially impacted by COVID-19.
Many businesses have felt the effects of the global pandemic that we have all been navigating through over the past couple years. We reached out to our existing customers to inform them about the ERTC and to see if they would like us to run the numbers and see what they could get back.
One of our long time payroll customers, Brandon Canfield of Lancaster Dental Partners, was one of the first customers who let us calculate their ERTC. We were able to secure over $135,000 in ERTC from 2020, and over $335,000 for the first three quarters of 2021.
Brandon was ecstatic with those numbers! We love working with our clients to help them utilize all of the potential benefits and tax credits they may not know they quality for. When we asked Brandon what he was going to do with all this extra money, he said “The tax credit that Doyle helped us secure will help our business tremendously. Coming back from Covid, there has been a huge shortage of employees in our field, so naturally pay rates have skyrocketed. Our payroll costs are up across the board to secure the employees we have. The tax refund will help us meet these rising costs.”
Doyle provides full service tax credit assistance, we do everything from start to finish. Our expertise allows us to calculate everything and ensure that you are getting the most out of your credits and we make sure we don’t miss a penny of potential money to be sent your way!
In regards to working with us on calculating the ERTC, Brandon said “Doyle basically did the entire ERTC process for us. They explained the process and how to maximize our refunds by using non-payroll forgivable items on our PPP forgiveness application which greatly increased our refund amount. They then did the entire ERTC paperwork for us including even having the envelope filled out so all I had to do was sign the document and place it in the mail.”
If you think your business may qualify for the ERTC, please reach out and set up a consultation with us! We are confident that we will get you the absolute most out of every tax credit your business may qualify for!