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  • Leisure & Hospitality - ERC

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    Craig Pisaris-Henderson
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    The document discusses the Employee Retention Tax Credit (ERC), a tax credit available to businesses in the leisure and hospitality industry that were impacted by COVID restrictions and maintained W-2 employees. The ERC provides eligible businesses with cash refunds of up to $26,000 per employee for wages paid in 2020 and 2021. Most leisure and hospitality businesses qualify due to mandated closures, capacity restrictions, or decreased revenue during the pandemic. The Economic Recovery Center helps these businesses determine eligibility and maximize their ERC benefits to obtain financial relief.

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    Secure your position for the Employee Retention Tax Credit!

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    The document discusses the Employee Retention Tax Credit (ERC), a tax credit available to businesses in the leisure and hospitality industry that were impacted by COVID restrictions and maintained W-2 employees. The ERC provides eligible businesses with cash refunds of up to $26,000 per employee for wages paid in 2020 and 2021. Most leisure and hospitality businesses qualify due to mandated closures, capacity restrictions, or decreased revenue during the pandemic. The Economic Recovery Center helps these businesses determine eligibility and maximize their ERC benefits to obtain financial relief.

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    © All Rights Reserved
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    15 views1 page

    Leisure & Hospitality - ERC

    Uploaded by

    Craig Pisaris-Henderson
    The document discusses the Employee Retention Tax Credit (ERC), a tax credit available to businesses in the leisure and hospitality industry that were impacted by COVID restrictions and maintained W-2 employees. The ERC provides eligible businesses with cash refunds of up to $26,000 per employee for wages paid in 2020 and 2021. Most leisure and hospitality businesses qualify due to mandated closures, capacity restrictions, or decreased revenue during the pandemic. The Economic Recovery Center helps these businesses determine eligibility and maximize their ERC benefits to obtain financial relief.

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    © All Rights Reserved
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    LEISURE & HOSPITALITY INDUSTRY

    If you own a business in the Leisure and Hospitality


    industry, were impacted by COVID restrictions, and have
    W-2 employees, you are likely eligible to receive the
    Employee Retention Tax Credit (ERC) Economic Recovery Center

    www.EconomicRecovery.US

    HOW DO YOU BENEFIT?


    WHAT IT IS Businesses in the leisure and hospitality industry
    Tax credit for businesses that lost billions in revenue resultant from the COVID-
    kept employees on payroll. 19 pandemic. Almost all of these establishments
    experienced strictly enforced government
    mandates that more than nominally decreased
    HOW TO QUALIFY potential revenue gains. Fortunately, many of
    Nearly all businesses within this industry experienced at least these businesses may still be eligible to receive
    one, if not many, of the following pandemic-induced mandates:
    cash relief via the Employee Retention Credit
    partial/full shutdowns only to reopen with reduced operating
    hours, restrictions on public gatherings (e.g., wedding (ERC). The ERC is the last remaining bit of
    receptions, concerts, festivals), capacity limitations, various monetary pandemic relief for businesses with W-2
    dining restrictions on table spacing and/or buffet services for employees, passed by the CARES Act in 2020
    example, and adjustment of hours to maintain sanitation
    regardless if you’ve already received Paycheck
    requirements. Businesses within this industry still have the
    opportunity to access significant cash relief in a refundable Protection Program (PPP) loans 1 and/or 2. The
    employee payroll tax credit, the ERC, which, unlike the PPP ERC has already awarded millions of dollars to a
    loans, are checks issued by the IRS for wages and taxes paid to broad spectrum of employers in a multitude of
    W-2 employees in 2020 and 2021—up to $26,000 per employee.
    industries.
    The two qualifying tests, independent from each other that
    determine your ERC eligibility are as follows: 1) your
    business(es) experienced decreased revenue during quarters 1-
    4 and 1-3 in 2020 and 2021, respectively, compared to 2019,
    OR; 2) your business(es) suffered from any number of HOW CAN WE HELP?
    government-mandated restrictions. Here at the Economic Recovery Center, we
    For information about claiming these credits, will diligently and thoroughly research both
    visit https://www.EconomicRecoveryCenter.com
    or from the IRS https://www.irs.gov
    revenue- and mandate-based qualifications
    for all 7 quarters from 2020-2021 in which
    the pandemic may have impacted your
    business. We are here to help you receive
    APPLY FOR YOUR ERC TODAY the maximum ERC for persevering during
    difficult financial times.

    EconomicRecovery.US Support@EconomicRecovery.US Economic Recovery Center

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