ERT.Credit

10/01/2022

Meet Jordan H Anderson, CPP
I work at the intersection of accounting, technology, and hospitality. I spend nearly every day thinking about how we can use technology to make accounting more engaging and seamless for businesses. During the day, I handle payroll for thousands of restaurants, bars, law firms, manufacturers, and more around the country. While my specialty resides in the world of hospitality, my knowledge far extends beyond the industry. I am currently the VP of Operations/Payroll for an accounting firm in Michigan where I oversee day-to-day operations and ensure the cogwheel keeps turning. I am a frequent speaker and over the last few years, I have immersed myself in the world of consulting with the singular goal of assisting businesses with strategic growth, risk and regulatory protocols, tech solutions, and tax credit retrieval. I have a BS.c in Business Administration with a focus on Supply Chain Management, A.A.S in Accounting, and am a CPP with the American Payroll Association.
www.ert.credit

09/29/2022

Cannabis Businesses Can Tap Into Cash Relief via Employee Retention Credit
Think your cannabis-related business does not qualify for COVID-19 relief funds? Actually, it may.
Owners of cannabis businesses often find themselves disappointed and angrier as time goes on with the US Tax Code when tax returns are sent in. With the US Tax Code and Internal Revenue Code (IRC), the devil is always in the details. A small provision in Section 280E of the IRC notes that cannabis businesses are not able to claim any business expense deductions under the Tax Code. In turn, this results in effective tax rates that often balloon past 80% for many businesses that are already being pummeled by regulatory scrutiny. Cannabis businesses will be affected by this provision in the Tax Code until cannabis is legalized at the federal level.

The Good News
While cannabis businesses were not able to participate in the U.S. Small Business Administration's Paycheck Protection Program (PPP), these businesses are eligible for the Employee Retention Credit (ERC). The ERC is a refundable credit on payroll taxes owed by a business. The elephant in the room is none other than Section 280E. The good news is the ERC is not blocked by the provision because it is a payroll tax credit. Given that Section 280E prevents cannabis businesses from deductions and credits, this is only true on the company's income taxes. The distinction is small in nature but the difference is real. Payroll taxes reside in a different section of the IRC and Section 280E does not apply to said taxes. If a cannabis business meets one of the qualifying criteria for the ERC, it should apply for the credit immediately.

The Way Forward
As more states continue to legalize the use of cannabis, the ERC has become a viable option for businesses operating in the industry to receive pandemic-relief funding. The cash refund the credit generates has helped scores of businesses weather the economic impact of the pandemic. The credit provides up to $5,000 per employee in refundable tax relief for 2020. For 2021, the incentive increased to $7,000 per employee per quarter in refundable tax relief. The IRS is responsible for issuing the cash refunds that come in the form of checks from the US Treasury. Given the numbers, it is easy to see how credits can quickly reach 6-figures and in some cases, fall into the 7-figure territory.

What's Next?
In practice, ERT Credit has found that an extremely diverse range of businesses are excellent candidates for the ERC. For many business owners and managers of non-profits, the ERC remains the go-to relief as it relates to the pandemic and one of the last sources of a cash injection that is helping businesses stay afloat. Yet hundreds of thousands of businesses and non-profit organizations around the country are failing to take advantage of the ERC. Billions of dollars are available for businesses and non-profit organizations to both retain and hire new employees. But you must apply.

As leaders in the market, ERT Credit has provided maximized computations to over one thousand employers across the country. See how ERT Credit can help you today by clicking here. No risk, no obligation - pay when you get paid.
www.ert.credit

09/28/2022

Irish Pub & Tap Room Credit: $659,015.63
“It took a while for the IRS to send out refund checks, but the money certainly arrived!”

I have known Jordan (CEO ERT.Credit) for a while. When Jordan first told me about the credit, I was skeptical. Jordan explained that this is a government incentive because we kept a lot of people on payroll during the pandemic. Those folks did not claim unemployment which was a net positive for the government and the taxpayer. Jordan warned us the wait was long and getting longer, so we moved quickly to secure the money owed to us.
Jordan is a clear professional and throughout the entire process, we were never left in the dark. He maximized our credit when our CPA turned us away. This was an eye opener.
www.ert.credit

09/27/2022

Over $10M+ Delivered to our customers to date.
Fine Dining Restaurant - Credit Amount: $719,364
Chiropractor with 18 locations - Credit Amount: $1,868,523
Brewery & Pub - Credit Amount: $247,890
Electronics Manufacturer - Credit Amount: $1,719,654
E-Commerce Retailer - Credit Amount: $190,623

09/26/2022

NCIA’s webinar. Don’t miss out on a guaranteed refund worth hundreds of thousands of dollars and in some cases millions. Join the team from ERT Credit as leading Employee Retention Credit (ERC) expert Jordan Anderson for an exclusive free webinar to help us understand this Employee Retention Tax Credit and its value to NCIA members.
https://thecannabisindustry.zoom.us/webinar/register/9116617984690/WN_smksimuNTyWQvJHimTSOBg?fbclid=IwAR0hnSwqnWa5t6WGv-perhvZWzQMmjOEXKRpxTr1YmGXmnVEc7AtXFELax0

09/26/2022

Employee Retention Credit (ERC) checks are being distributed to our clients on a daily basis by the IRS. At ERT.Credit, we will take every dollar off of the table for your enterprise and redirect the proceeds to your pocket.

Call today to claim your cash refund. www.ert.credit

Protect your investment. This is a cash refund for your business on payroll taxes that you have already paid. This incentive does not need to be paid back.

09/22/2022

Most cannabis businesses are missing out on a guaranteed refund worth hundreds of thousands of dollars and in some cases millions. Section 280E excludes businesses in our industry from being able to claim any business expense deductions under the Tax Code. Section 280E does NOT apply to payroll taxes.
While cannabis businesses were not able to participate in the U.S. Small Business Administration's Paycheck Protection Program (PPP), these businesses are eligible for the Employee Retention Credit (ERC). The ERC is a refundable credit on payroll taxes owed by a business.
www.ert.credit

09/21/2022

Lumber Yards are Prime Candidates for the Employee Retention Credit
The Employee Retention Credit has once again come to the forefront. This time, lumber yards are finding out that they are prime candidates for this special tax credit that materialized during the earlier months of the pandemic in 2020. Lumber yards nationwide were impacted by the pandemic almost immediately. Whether the lumber yard experienced a significant supply limitation on seasonal lumber, vendors that lumber yards worked with experienced extreme challenges operating, or the cost of building materials increased double, or in some cases, triple digits, lumber yards were hit hard. Given these severe impacts, lumber yards are ripe when it comes to receiving the Employee Retention Credit.

Qualifying for the Tax Credit
Outside of qualifying for the credit based on a disruption to an employer's supply chain, there are two additional criteria that can draw a clear line to eligibility. Establishing a direct path to eligibility for the ERC has been anything but simple. Employers, including organizations that are tax-exempt, can qualify for the credit if they experienced a partial/full shutdown due to government mandates or experienced a 50% decline in gross sales in any quarter in 2020 compared to the same quarter in 2019. For 2021, an employer would need to have experienced a 20% decline in gross sales in any quarter in the year compared to the same quarter in 2019. Employers do not need to experience both a partial/full shutdown and a decline in gross sales to qualify for the ERC.

Other common misconceptions include:

we are an essential business, so we are not eligible
we did not shut down our office, so we are not eligible
our operations were suspended, but we were profitable, so we are not eligible
we were told we needed a decline in gross receipts, and our capacity must have been reduced
A Unique Position
Lumber yards are in an interesting position due to the catastrophic impact covid-19 has had on the industry. While many lumber yards are in the black, the pandemic has caused obvious opportunity loss. Products and materials skyrocketed in price in what seemed to be overnight. Moreover, there was a myriad of key products that were simply not available for extended durations of time. This series of unfortunate events made it to where prices had to be raised in order to not only accommodate an increase in the cost of goods but to keep the lights on and staff employed. These are all reasons why the Employee Retention Credit fits the bill so well. The impact was far too great, and with this, lumber yards have landed in a position that aligns them well with taking advantage of this wildly lucrative tax credit.

Most lumber yards qualify for the Employee Retention Credit. Supply chain disruptions, loss in revenue, retaining staff, adhering to capacity restrictions mandated by the state, and having to pivot left and right when it comes to operating are just some of the variables that make this tax credit a reality for lumber yards. While not all lumber yards will qualify, employers should reach out to ERT Credit to get an accurate determination. ERT Credit takes a conservative approach to eligibility and will only move on computing said credit if there is a clear line to eligibility.

How to Proceed
In practice, ERT Credit has found that an extremely diverse range of businesses are excellent candidates for the ERC. For many business owners and managers of non-profits, the ERC remains the go-to relief as it relates to the pandemic and one of the last sources of a cash injection that is helping businesses stay afloat. Yet hundreds of thousands of businesses and non-profit organizations around the country are failing to take advantage of the ERC. Billions of dollars are available for businesses and non-profit organizations to both retain and hire new employees. But you must apply.

As leaders in the market, ERT Credit has provided maximized computations to over one thousand employers across the country visit our website www.ert.credit

09/20/2022

Think your cannabis-related business does not qualify for COVID-19 relief funds? Cannabis businesses can take advantage of a very lucrative credit worth up to $26,000 per employee.

Owners of cannabis businesses often find themselves disappointed and angrier as time goes on with the US Tax Code when tax returns are sent in. With the US Tax Code and Internal Revenue Code (IRC), the devil is always in the details. A small provision in Section 280E of the IRC notes that cannabis businesses are not able to claim any business expense deductions under the Tax Code. In turn, this results in effective tax rates that often balloon past 80% for many businesses that are already being pummeled by regulatory scrutiny.
While cannabis businesses were not able to participate in the U.S. Small Business Administration's Paycheck Protection Program (PPP), these businesses are eligible for the Employee Retention Credit (ERC). The ERC is a refundable credit on payroll taxes owed by a business.
www.ert.credit

09/20/2022

Register here for our webinar next week

NCIA’s webinar series is our premier digital educational series featuring a variety of interactive programs allowing us to provide you timely, engaging and essential education when you need it most. NCIA’s Service Solutions series is our sponsored content webinar program whic...

09/19/2022

Defense Manufacturer Credit: $2,261,936.25
“Found these guys due to a Linkedin ad, took a chance. Wow!”

I saw an ad these guys were running on Linkedin, so I filled out their contact request form. Kash started calling and emailing me to talk. I was busy so it took me a couple days to call him back.I own another company where we filed this credit and recieved a significant return. However, it took us a long time to get it done and things were not done quite right. I was also concerned about ERT Credit sticking around long term.

Kash and Jordan ran an incredibly tight process that moved our company through the eligibility and computations for this credit in a matter of hours. What an awesome experience. Zero load on my internal accounting staff. They got things done in a matter of days so we could close our books. These guys exemplify amazing customer service and scale.
www.ert.credit