This episode serves as an imperative guide to the ERTC and succinctly lays out why businesses should take advantage of this lucrative opportunity by partnering with The Lake Law Firm. With deadlines approaching and misunderstandings regarding the ERTC abound, Mr. Blom separates fact from fiction. Listen now to learn how The Lake Law Firm can maximize your business’ ERTC refund.
Preparing for ERTC Statute of Limitations
Many have wrongfully assumed that the Employee Retention Tax Credit is over, but the ERTC is alive and well. However, the statute of limitations for the varying quarters is approaching. Mr. Blom covers the upcoming statute of limitations for the different 2020 and 2021 quarters available under the ERTC. There is still time to apply for the ERTC, but the clock is ticking.
ERTC Qualifications: Revenue Drop Test vs. Government Mandate Test
A common ERTC misunderstanding is that only businesses that experienced a decline in revenue can apply for the Employee Retention Tax Credit. Some business owners are hesitant to apply because their profits remained the same or even increased during the pandemic. On episode 155 of the Grow Your Law Firm podcast, Blom and Hardison elaborate on other criteria that qualify a business for the ERTC.
For example, the pandemic hindered many law firms because of nationwide court closures. If court closures affected your operations, this could entitle your law firm to the Employee Retention Tax Credit. Listen to this episode to get more information about additional qualifiers for the ERTC apart from revenue decline.
The Lake Law Firm’s Distinct ERTC Services
Also, on Hardison’s podcast, Mr. Blom details why The Lake Law Firm is unlike payroll companies and accounting firms promoting the ERTC. This podcast segment discusses The Lake Law Firm’s no-upfront fee, efficient turnaround time, and unique audit defense services. The ERTC services helmed by the expansive and capable team at The Lake Law Firm far surpass those offered by standard accounting and payroll businesses.
Tune into episode 155 of the Grow Your Law Firm podcast to discover how The Lake Law Firm can maximize your ERTC refund.