276k is the average tax credit claimed on behalf of Reindeer clients.
Here are your most common questions, answered.
No. You can include wages paid to both part-time and full-time workers, but can only claim the credit on the first $10,000 paid to each employee for each period they are claiming the credit for. This means that if an employee was paid more than $10,000 in a given period, the employer can only claim the credit on the first $10,000.
Answered by Maya Sussholz, Tax Credit Specialist
The ERC and PPP are both COVID-19 relief programs, but the ERC is a tax credit that businesses can claim on their tax returns, while the PPP is a loan program with forgiveness provisions. Businesses can claim both the ERC and PPP, but the same wages cannot be used to calculate both programs.
Answered by Felice Krieger, Tax Credit Specialist
No, the ERC is not a loan. Unlike the PPP, the ERC is a refundable tax credit, which means businesses can receive a refund if the credit amount exceeds their tax liability. Take advantage of it with Reindeer’s specialists today!
Answered by Harry Seth, Tax Credit Specialist
Reindeer’s refund specialists help you navigate the complexities of tax incentives and ensure you are maximizing your eligibility and receiving the full benefit of available tax credits. We do it with exclusive BuckRun™ technology that not only makes the process seamless for you, but allows our employees to focus on the finer details and maximize your benefits to its fullest potential. BuckRun™ utilizes our premier technology to deliver your paycheck 4x faster.
Answered by Harry Seth, Tax Credit Specialist
BuckRun™ Swift is a Reindeer trademark technology that allows us to deliver your paycheck up to 4X faster than the average response. Leveraging our unique systems, and with a specialized understanding of ERC, your paycheck is in your hands faster than most think possible.
Answered by Maya Sussholz, Tax Credit Specialist
The following industries are a partial list:
- Hospitality (hotels, restaurants, and bars)
- Entertainment (movie theaters, museums, and sports venues)
- Transportation (airlines, trains, and buses)
- Non-profit organizations
- Educational institutions
- Healthcare providers
- Professional service firms (law, accounting, and consulting)
- Retailers
Answered by Felice Kreiger, Tax Credit Specialist
The short answer is yes, you can still qualify, even if you were profitable. As long as you meet the eligibility requirements, which are based on revenue decline OR business suspension due to the COVID-19 pandemic, you can still receive the ERC. Take our free qualification exam to learn more about if you qualify!
Answered by Max Bernard, Tax Credit Specialist
You can spend your ERC refund on anything you like. Use it to invest back in your business or reward it to yourself as a personal attribution. For example, investing in your business can include payroll, business rent and utilities, and other similar items.
Answered by Sadie Patel, Tax Credit Specialist
The timeline for receiving your refund can vary, but it typically takes several weeks to process your tax return. Then, it can take several months for the IRS to send checks and receive your refund. When you work with Reindeer, our team takes care of the process for you, so you can focus on running your business while we secure your ERC for you. And with BuckRun™ Swift, the process is sped up so you get your check in less than a few weeks, from fill-out to fruition.
Answered by Marc Frost, Tax Credit Specialist
When doing it yourself, we agree that it could be a hassle. However, when working with Reindeer, we take care of it for you, while securing you a higher than average return. We’ve secured for our clients hundreds of thousands (individually!) and we can do the same for you.
In a nutshell: If a few hundred thousand speaks to you, then you should speak to us.
Answered by Owen Martinez, Tax Credit Specialist
In short: by working with Reindeer!
In long, to maximize your ERC eligibility, you can work with Reindeer to:
- Review your business’s financial and tax records.
- Ensure compliance with applicable regulations and tax laws.
- Identify all eligible wages and expenses.
- Calculate your credit accurately.
- File your tax return on time and with all necessary documentation.
Answered by Marc Frost, Tax Credit Specialist
Reindeer’s team of experts can help businesses identify all available tax benefits, ensure compliance with federal and state regulations, and streamline the process of claiming tax incentives. When you work with Reindeer, our team takes care of the hassle for you, so you can focus on running your business.
Answered by Sadie Patel, Tax Credit Specialist
We’re happy to help.
Join the over 1000s businesses claiming their refunds with Reindeer today.
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