ERC TEXAS RESTAURANT ASSOCIATION

GET UP TO $26,000 PER EMPLOYEE FIND OUT HOW...

Thursday February 16
4:30PM -8:00PM

Briscoe Carpenter Livestock Center

1403 Washington St, Dallas, TX 7521

Expanded Tax Credits Available for 2021

Most employers, including tax-exempt organizations, can qualify for the Employee Retention Tax Credit (ERC). For employers that qualify, including those with a PPP loan, the credit can be claimed against a portion of payroll from March 13, 2020, to June 30, 2021, and is paid directly to the business in the form of a refund check.


Tax Credit Highlights

✓ Up to $26,000 per employee

✓ Not a loan

✓ No “forgiveness” paperwork

✓ Check from US Treasury

✓ Use the money for any purpose

✓ Can also have PPP, PPP2



FREE TAX REVIEW

Professional Tax consultants from Polaxis will be on hand  to perform FREE multiyear tax reviews of your business to ensure that you are taking full advantage of the many tax strategies that are available  to the community   

REGISTER FOR THE ERC SEMINAR

REGISTER FOR THE TEXAS RESTAURANT ASSOCIATION 
ERC SEMINAR

Registration - Houston

 FEATURED SPEAKERS 

CARLOS WHITE|  DALLAS FRANCHISE INTIATIVE
Carlos White is an Ivy League-law trained transactional attorney that specializes in optimizing business systems and structuring domestic and international franchising and licensing arrangements. Currently, Carlos serves as a Partner at Lathrop GPM, a firm that was named the 2021 Best Franchise Law Firm in the world by Global Franchise Magazine. Carlos has been recognized multiple times by D Magazine as one of the best franchise lawyers in Dallas.
Economic development and business mentoring are passions for Carlos, and he has served on various economic development boards throughout the Dallas-Fort Worth metroplex. Recently, Carlos has been tapped as Franchise Impact Ambassador by Mayor Eric Johnson of Dallas. In this role, he will lead the Mayor’s first-of-its-kind Franchise Initiative that showcases Dallas as a global leader in franchising and preeminent hub for creating, incubating, and scaling racially and ethnically diverse franchise businesses.
STEPHANIE ERWIN| POLAXIS
Stephanie provides in-depth accounting expertise and presents financial advice for the creation and implementation of new business strategies and cost efficiency measures. She thrives in fast paced environments and navigates ambiguity with a clear vision and a keen eye on company metrics and trends. 
Stephanie began her career with Deloitte where she provided over 15 years of public and private audit and advisory services to companies across the U.S. in various industries including healthcare, real estate, not-for-profit, and retail. After Deloitte, she served as an Asst. Controller overseeing the day-to-day operations of the Accounting Department and developing and implementing internal controls to mitigate external and internal risks.
ROSCO GRAVES JR | POLAXIS
Rosco has partnered with CEOs and executives to gather and interpret data to generate meaningful insights. He has a proven track record of leading initiatives to unlock value through tax, financial and operational strategies and enjoys making the complex simple, clear, and actionable.
 Prior to Polaxis, Rosco worked in various industry leaders in consumer products, manufacturing, and Oil & Gas. He also owned a group fitness franchise. Rosco began his career in Big Four public accounting; spending seven years in Deloitte’s audit practice.
KATE SHAVER | ACCELERATE TAX
Kate is the President of Operation at Accelerate Tax.  She is seasoned leader with experience across both public and privately held institutions that delivers results, motivates employees and delights customers.  Kate has a deep understanding of building and executing business plans, either in a startup environment or a growth strategy of an existing business and achieving the targeted objectives. 

THURSDAY FEBRUARY 16 , 2023

4:30 PM

DOORS OPEN

5:00 PM

PRESENTATIONS BEGIN
TOPICS
  • INTRODUCTION 
  • BUSINESS ENTITY STRUCTURES
  • BEST PRACTICES  FOR TAX & BOOKKEPPING 
  • IMPORTANCE OF MBE CERTIFICATION

6:00 PM

BREAK

6:15 PM

ERC AND TAX REVIEWS BEGIN

The ERC Basics

What is ERC?

ERC is an actual check refund sent to you from the IRS - not a loan. It is a refund against payroll taxes (Social Security, Medicare, etc.)

Employees

You can receive up to  $26,000 per employee with no total limit.

You are eligible regardless of PPP loans

Ways to Qualify

  • Sales & Revenue declines
  • Affected by Government Shutdown Orders
  • Affected by Supply Chain Interruptions

Receiving Your Refund

The IRS can take anywhere from 3-18 months to send your refund

With our Rapid ERC option, receive your refund in as little as 1-2 weeks.

Frequently Asked Questions

  • WHAT IS THE ERC

    The Employee Retention Credit (ERC) is a refundable tax credit, which means the IRS will mail a tax refund check to eligible businesses. It is the result of a stimulus program created by Congress to compensate businesses that retained employees during the COVID-19 pandemic. The program has been amended several times since it was initially enacted into law, and it has complex rules to assess eligibility and calculate the maximum available credit. While the simplest eligibility test is tied to a material decline in sales (revenue) in 2020 or 2021, many businesses are eligible whether or not they experienced a revenue decline or participated in the Paycheck Protection Program.

  • WHAT IS MY MAXIMUM ERC CREDIT?

    Your business may qualify for a maximum of $26,000 per employee, but most businesses do not qualify for the full amount since eligibility is determined on a quarter-by-quarter basis. The professionals at Accelerate Tax are ERC experts and will help your business get the highest refund possible, by assessing every eligibility option you may have in 2020 and 2021 and maximizing applicable payroll amounts.

  • WHY HAVEN'T I HEARD OF THIS?

    Unlike the Paycheck Protection Program (PPP), most banks and financial institutions are not participating in this program because unlike the PPP, the ERC is not a forgivable loan program. The ERC is a unique and specialized tax credit. Many accountants and CPAs are not processing ERC applications because it is a one-time program and because of the unique complexities for determining qualification and the size of the credit. 

  • MY REVENUES DIDN'T DROP DURING COVID. AM I STILL ELIGIBLE?

    Yes, you likely are.  You may be eligible if you were affected by a partial or complete government shutdown. This could include examples where face-to-face customer interactions were limited or your supply chain was materially impacted.

  • WHAT DOCUMENTATION IS NEEDED TO APPLY?

    In order to process your application, we will need you to provide us with revenue information, payroll data, previously filed IRS Form 941s, and 2019 employee counts. One of our ERC professionals will then prepare and file your Form 941-Xs and supporting documentation with the IRS.

  • CAN I GET MY REFUND CHECK IMMEDIATELY?

    If your business qualifies for our Rapid ERC payment program, you could receive your refund within 1-2 weeks. Our Rapid ERC program provides term loans or cash advances of up to 100% of your ERC amount.

  • HOW WILL I KNOW THE STATUS OF MY APPLICATION?


    The IRS does not have a customer portal to provide status updates on your application. For customers that are not eligible for, or do not take advantage of, our Rapid ERC program, we ask that you are patient while the IRS processes your refund. This could take a few months for smaller credits and a year or more for larger credits.

  • IF I RECEIVED A PPP LOAN, CAN I QUALIFY FOR ERC?

    Even if your business received a PPP loan, you may still be eligible for ERC. PPP loan forgiveness may reduce the size of your ERC in certain quarters, depending on the amount of the PPP loan that was forgiven and other payroll information.  Our CPAs are experts in maximizing your ERC.

Share by: