Trifinity
Employee Retention Credit
Employee Retention Credit
A business with employees that was subject to government regulations brought about by the COVID-19 pandemic or that suffered economic losses in 2020 or 2021 as a result of COVID-19 closures is eligible to receive the Employee Retention Credit (ERC).
As part of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), ERC was created to provide businesses with a refundable credit that can be claimed on wages paid to employees. ERC was devised as an incentive for employers to retain employees on their payrolls when the pandemic began.
Employers should know that ERC is a refundable payroll tax CREDIT, not a loan. It entitles employers to reductions to payroll taxes or cash refunds.
Notably, the ERC can be applied retroactively to March 12, 2020. This means that you still have the opportunity to claim funds through the federal government to help your business as it continues to navigate this unprecedented pandemic.
Trifinity Agents are able to offer Business Owners ERC and they earn a 2% commission on the amount the Business Owner receives!
As an Insurance Agent you can offer this to your commercial clients and enable them to receive up to $26,000 per W2 employee they had during 2020 and 2021.
This money is paid directly to the Business Owner, it does not have to be paid back, and the Business Owner can use the money for anything they want to!