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Herfy Financial Services LLC
Business Consulting Services | Insurance Broker
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Herfy Financial Services LLC & Bottom Line Concepts
Bottom Line is assisting our clients with various forms of government aid, in particular the Employee Retention
Credit Program (ERC), which was part of the American Rescue Act legislation of March 2021. The legislation
revised the original ERC program included in the C ARES Act of May 2020 that stated an employer had to
choose between the Paycheck Protection Program (PPP) and ERC. The 2021 legislation expanded, extended,
and enlarged the ERC program allowing eligible employers to benefit from both PPP and ERC. Many business
owners do not realize that they are now eligible for the ERC even if they previously received PPP funds.
The ERC has been very lucrative to many small and mid-sized businesses across the country:
• We have secured refunds for our clients ranging from $100K to $40M
• Up to $26K per employee on payroll (depending on actual paid wages and healthcare)
• Breaks down to $7K per employee per quarter in 2021 from January 1st, 2021 and can continue to
September 30th, 2021 for a total of $21 K
• Recovery Startup Businesses are eligible to continue in the program to December 31st, 2021
• Retro back for 2020 at $5k per employee
• The IRS will issue refunds for the past quarters back to 2020 02 including to the beginning of 2021
If you are not receiving ERC, we would welcome the opportunity to discuss your 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 with funds
in the bank account fairly quickly.
We can help you through the myriad of complexities that may pertain to your company's unique situation such as
the following:
• Program benefits to both small and large employers
• Eligibility requirements by Revenues or Governmental orders for past and future quarters
• Aggregation affiliation rules
• International nuances
• Treatment of furloughed employees & employees paid while not working
• Eligible costs besides wages such as employer paid healthcare & pension contributions
• Full or partial eligibility of Program benefits for the duration or part of the Program's 21 months
• What constitutes a Recovery Startup Business and its benefits under the Program
• Rules governing Part Time employees
• Nuances of Union and Non-Union situations
• Multi-state companies sort through multiple Governor's Executive Orders impact on eligibility
• Analyzing the mathematical sweet spot to maximize both PPP forgiveness and ERC credits
• Demystifying FAQs from the IRS
Auto Repair Shops
Bars
Car Washes
Churches/Temples
Commercial Buildings
Contractors & Construction Companies
Country Clubs
Doctor/Veterinarian Offices
Dry Cleaners
Franchisees
Gyms
Hotels
Manufacturers
Moving Companies
Parking Garages
Private Schools
Property Managers
Restaurants
Retailers
Senior Living & Retirement Communities
Sports Facilities
Trade Show & Conference Organizers
Wholesalers
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1.904.425.9626
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