A Financial Reward for Dedicated Construction Employers

The Employee Retention Credit gives a refund to companies who were impacted by the COVID-19 pandemic

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Sponsored by Omega Accounting Solutions

If your company experienced any financial loss due to the COVID-19 pandemic, you could be eligible for a payroll tax credit that can give you up to $26,000 per employee. This is called the Employee Retention Credit or ERC.

The ERC provides a refund on wages and healthcare costs to eligible employers who kept employees working during the COVID-19 pandemic. The refund checks are being sent to qualifying businesses all over the country.

Construction companies that have already taken advantage of the ERC have received hundreds of thousands of dollars in return from the government. An electrical contracting company in California received an ERC refund of $2.6 million from the IRS based on a reduction in gross receipts during the crisis, and a landscaping company in Utah qualified through suspension of services and received an ERC refund of $437,000. 

To receive this credit, companies only need to prove they experienced financial losses or suspended services due to government orders that led to project interruptions, difficulty sourcing materials, budget cuts, or other trials during the pandemic. 

If you think it sounds like a daunting task to receive this money, it’s not. There are so many resources your company can rely on to make sure you’re maximizing your ERC benefit. ForConstructionPros.com has partnered with Omega Accounting Solutions, which specifically works to help construction companies in this space. 

Their ERC specialists can quickly evaluate whether your company is entitled to the credit and provide any needed guidance. They even have a refund calculator on their website to see how much you could get back from the IRS. 

We understand contractors have a lot on your plate, but there is money that still exists out there as a reward just for keeping your crews employed during the pandemic. We want to make sure you receive your share for being a good employer, even when times got tough. For more information, visit https://bit.ly/forconstructionpros today.

Do you quality for the ERC?Images courtesy of Omega Accounting Solutions

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