The government has authorized billions in economic stimulus through the employee retention tax credit program, yet millions of business owners will let much of this stimulus relief go unclaimed. Our team of certified public accountants helped clients claim 9-figures thus far.
You’ve heard conflicting advice from your banker, payroll service, bookkeeper, and perhaps even your own tax accountant.
Don’t let the rumors and hearsay delay your refund check!
If your business was impacted by the pandemic, you are owed a check from the U.S. Treasury for hiring American workers – the only question is “How Much Will You Get?”
When you engage Macmoor Capital you’ll work with a team of professionals whose sole focus is maximizing your legal claims to the Employee Retention Tax Credits now available to you based on the most recent legislation.
Our CPA’s do not prepare income taxes, compile financial statements or provide attestation services of any kind.
They are strictly experts in ERC and that’s why accounting firms across the country have been sending their clients to us.
For Q3 and Q4 of 2021 only, a business can utilize either of these special qualifying criteria:
Qualify as a Recovery Startup Business, meaning the employer:
Qualify as a Severely Financially Distressed Employer, meaning the employer:
2020 → Maximum credit is $5,000 per employee for the entire year. 50% of qualifying wages with a maximum qualifying wage amount of $10,000 per employee.
2021 → Maximum credit is $7,000 per quarter, per employee – $21,000 total for the year. 70% of qualifying wages with a maximum qualifying wage amount of $10,000 per employee.
Big picture answer: the American Rescue Plan Act of 2021 (signed March 11, 2021) authorizes up to $26,000 in refunds per employee, but that amount varies substantially based on no less than a dozen factors – timing of revenue declines, receipt of PPP loans & forgiveness, turnover of employees, etc. etc. Realistically, there is no reasonable answer for how much you can expect back until we run a few numbers. It ranges but the max amount a business can receive as previously stated is $26,000 per employee for the entire time period.
Since maximizing your Employee Retention Tax Credits is all the accounting firm we engaged does, we’ve made this incredibly easy to start. In fact, we’ve streamlined this process and will only require about 15 minutes of your time – from start to finish. Connect us with your team members who can provide us payroll reports and quarterly filings and we’ll take it from there. Our expert CPA’s determine eligibility, compute your credits, prepare your filings and provide audit documentation. At the conclusion, you’ll receive an Executive Summary and the amended Federal Returns to sign. We’ll continue to follow-up with you through the end of 2021 to ensure you claim all the refunds for every quarter that you’re eligible.
Our fees are based on a percentage of what we recover for you. Typically we charge a flat fee of just 20% of whatever we recover on your behalf. We don’t get paid until you get paid. Our fee isn’t due until you get your refund check from the U.S. Department of Treasury. (Did I mention how good it feels cashing a check from the Treasury that is not a result of you overpaying income taxes last year?)
Your Payroll Service does an excellent job of executing the fundamentals of paying your employees, paying your employment taxes and filing your quarterly reports.
But computing your ERC requires visibility into your P&L and PPP forgiveness applications. Not only that, but the complex requirements around eligibility and allocating ERC at the employee-level while accounting for annual and quarterly qualifying wage caps and . . . well, you can probably tell why Payroll Services are not offering to do all of this for you.
The Payroll Services are happy to provide the payroll registers that we need to perform the allocations. And they are happy to file the Amended Form 941-X with the IRS on our client’s behalf. For them to involve themselves in the intricacies of this calculation, could be a liability and beyond their scope of services.
Your tax accountant may not be knowledgeable enough to calculate and determine the full extent of your right to the ERC. Just as there are specialists among doctors, dentists and other professionals there are specialists among accountants. The accounting firm we engaged focuses exclusively on this once in a lifetime credit opportunity. They are the specialists you want to assist you in securing your tax credit. Your accountant’s practice is staffed to handle the current workload, not to handle these intricate calculations. With MMC, you can be assured that the work done will be done by people with a singular focus on maximizing ERC’s.
Macmoor Capital is assisting our clients with a special form of government aid called the Employee Retention Credit, which was part of the March 2021 American Rescue Plan Act which revised the original ERC program included in the CARES Act of May 2020, where and employer had to choose between Paycheck Protection Program and ERC. The 2021 legislation allows eligible employers to benefit from both or either of PPP and ERC. Some of our clients didn’t realize they can now use PPP and ERC, so we want to circle back now to be sure that you are aware.
If you are not receiving ERC, we would welcome the opportunity to discuss the eligibility requirements and how to start the program. We will manage it from end to end for you. We can get you up and running at no up front cost to you with funds in your bank account as soon as the refund is issued.
We can help you through the myriad of complexities that may pertain to your company’s unique situation such as the following:
Macmoor Capital, LLC / For informational purposes only / Information is subject to change