Arbela Finance Group is proud to announce the launch of their newest offering, starting September 13, 2022. The company has a background in business financing and bill reduction services. After several months supporting existing clients, they are focusing their team on assisting additional business owners with the Employee Retention Tax Credit, or ERTC.
Interested parties can view more details and complete a complimentary application on the following website: https://www.arbelafinancegroup.com
With the launch of their ERTC service update, Arbela Finance Group will be helping established and start-up businesses navigate the sometimes challenging process.
Janice White, Senior Account Manager of Arbela Finance Group had this to say about the pending new launch:
“Many businesses struggle with how to apply for the ERTC. The landscape has changed in 2022 but the application process involves filing their amended Form 941 Employer Quarterly Tax Filing.
“Some owners report being incorrectly told that they are ineligible because they had previously obtained a Payroll Protection Program (PPP) loan. Fortunately this isn’t true.
“ERTC eligibility criteria really depends on a few keys things. First a business must have had W-2 employees on their payroll. The next step is understanding whether the business was affected by a full or partial shutdown order during the 2020 or 2021 period. Finally, they need to have suffered reduced revenue as a result of the shutdown order.
“If these criteria are met, the business is likely to be eligible. While prior PPP loans reduce the tax credit amount a business is entitled to, they can qualify for both programs. The best way to find out exactly what a business can receive is to apply.
“For prior quarters, business owners can file an amended form (the Form 941-X) to minimize their current quarter’s tax contribution and request a refund of the excess credits paid. Any PPP loans are considered as part of the overall assessment.
“Where owners get tripped up is in correctly determining their eligibility per quarter and by employee type. It can be challenging and time consuming.
With many tax accountants focusing on preparing federal and state income tax returns and staying up-to-date on the ever-changing income tax code, the complexity of the ERTC program falls beyond their scope of services.
“As a result, this often leads to owners missing out on this valuable program and the funds they are entitled to.
“Our business and our partners have witnessed countless owners receiving substantial tax credits, thanks to a thorough assessment of their situation.”
Those interested in learning more about the ERTC program and their eligibility, or to make an application, can do so here: https://www.arbelafinancegroup.com.
Arbela Finance Group
PO Box 43
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Ireland Daily News journalist was involved in the writing and production of this article.