C&A Helps a Non-Profit Organization Obtain Over 5 Million Dollars in ERTCs
Even essential businesses experienced disruptions to their operations in 2020 and 2021. For our non-profit client, this was their reality.
Find out how they obtained over five million dollars in ERTCs with the help of the C&A tax experts.
The Problem
Our client, a non-profit organization in Massachusetts, has 320 employees on their payroll. The company was deemed essential, but it still experienced business disruptions. As a result, they paid people not to work during the pandemic.
They took out an initial Paycheck Protection Program (PPP) loan — later forgiven.
The organization reached out to us for information on how they could obtain Employee Retention Tax Credits. We’ve helped many clients obtain ERTCs, and we were confident we could help them.
The C&A Solution
With ERTCs, companies can claim up to 26,000 dollars in tax credits for each employee they kept on the payroll in 2020 and 2021. Congress made this program available for businesses deemed essential and non-essential and for all industries.
However, many clients who come to us for a free ERTC consultation believe that their PPP loan may impact their ability to obtain ERTCs. But that’s not true.
Companies who take out a PPP loan or have a PPP loan forgiven can still claim ERTCs.
Our non-profit client had taken out a PPP loan, which was later forgiven. But no matter what the status of their PPP loan, we would have been able to get them the tax credits they deserved.
In this particular case, our client received $5,610,210 in ERTCs for tax years 2020 and 2021.
Contact C&A today for your free ERTC consultation.
No matter if your business was deemed essential or not, you are likely eligible for the employee retention tax credit. If you have a PPP loan forgiven, or want to preserve your ability to have a PPP loan forgiven, guess what? You can also claim the ERTC.
Contact us today for a FREE consultation to see how much you can get.
Industry
Non-Profit
Blogs and Resources
The Importance of Tax Advisors for Scaling Businesses: Mitigating Risks and Maximizing Opportunities
Tax advisors are crucial for scaling businesses, helping to mitigate risks, maximize opportunities, …
Read More10 Reasons Why Business Owners Should Never File Their Taxes On Time
Discover why filing for a tax extension offers business owners the extra time needed to reduce their…
Read MoreBusiness Brokerage Firms Are Not Operating In Your Best Interest. Here's Why.
Discover why traditional business brokerage firms may not operate in your best interest and how to p…
Read MoreAvoiding Overpayment: Common Tax Mistakes Made by Seasonal Businesses
Learn how seasonal businesses can avoid common tax mistakes and save money by accurately estimating …
Read MoreWhy Business Owners Miss Out on Valuable Tax Advice Beyond Their CPA
Missed opportunities in tax strategy can cost business owners. Learn why relying solely on your CPA …
Read MoreIt's Not Too Late! Strategies To Reduce Your 2024 Taxes Before (and after) Year End
Explore actionable strategies to reduce your 2024 taxes before and after year-end. Learn how to defe…
Read More