Can your business get the employee retention tax credit if you’ve already got the PPP & PPP2? (yes!)

It turns out you can. In fact, I had a client who came to me, he owns a restaurant in Oklahoma and his accountant told him that, “hey, you can’t get the employ your attention tax credit because you already got the PPP & PPP2 and you already took the restaurant revitalization fund.” And what happened?

I said, well, let’s take a look at this. Let’s break it down. And we went through the process and we looked at all of his stimulus packages. We looked at all of his, everything that he received. We looked at all of his payrolls. We did all the different periods of qualifying periods and, covered employees, and uncovered the excluded employees.

Turns out that his account was wrong and that’s okay. Most accountants are focused on keeping their clients and compliance, but they’re not looking for where are additional opportunities?

We’ve done this for probably close to 150 clients now we know the federal guidelines very well and more importantly, we know how to interface between all the different aid provisions that are out there. In fact, we developed a number of tools to ensure that we’re not double-dipping in the process to ensure you’re maximizing your aid amounts.

We show you all the analysis and actually, this doesn’t even cost anything. We would rather do all the work upfront, and if we find additional aid for you awesome we’ll talk about what it looks like to capture that aid. But if we go through that we can’t find anything. Hey, you know what? I’d rather do that and take, you know, take a little bit of risk. you do a little bit of work upfront to know whether or not certainly we could get something for you.

-Brad