As a leading Texas accounting firm, Haynie & Company understands firsthand how the pandemic has caused radical change throughout the economy. Regardless of your company’s industry or sector, chances are you have faced once-in-a-lifetime challenges. The Haynie & Company team of CPAs in Brownsville, Texas has become experts on all tax credits —especially Employee Retention Credit (ERC) consulting services.
Employee Retention Credit (ERC) Texas
Brownsville’s Trusted ERC Consultant CPAs
The Employee Retention Credit is one of several programs the federal government implemented in the wake of the total shutdown in early March of 2020. This program reimburses businesses through a tax credit—i.e. a check from the IRS. But the fact is that much of it isn’t simple for many businesses. Haynie & Company is a trusted advisor that helps businesses like yours parse the Employee Retention Tax Credit requirements to ensure you get your funds.
Haynie & Company CPAs have helped clients secure millions in Employee Retention Credits and is the preferred ERC consultant of Lone Star National Bank.
Do you Qualify?
- This legislation was aimed specifically for small businesses, so it is much harder to qualify for ERC if the company is classified as a large business. (Over 100 full time employees in 2020, and over 500 full time employees in 2021.)
- 2020: Was there a decline in revenues? Determine decline by comparing the 2020 quarter to the same quarter of 2019. If there was a reduction of greater than 50% you are eligible for ERC. You continue to be eligible until the quarter after the first quarter that gross receipts rise above 80% when compared to the same quarter in 2019.
- 2021: Was there a decline in revenues? If there was a reduction of greater than 20% when compared to a similar quarter of 2019, you are eligible. Note this is a change over the 50% rule from 2020. For employers that were not in existence in 2019 you can use the corresponding quarters of 2020.
- Did you experience a full government shutdown during 2020 and 2021? For example, a business that had to completely shut its doors and was unable to operate virtually for a period of time.
- Did you experience a partial shutdown (government restrictions on operations that limited full operations) during 2020 and 2021? This is particularly applicable to restaurants and bars (closure of a dining area, limited guests in a dining area, earlier than normal closure times, etc.)
- You can’t double dip and claim ERC on wages that were paid with PPP dollars. Nevertheless, our experts understand how PPP and ERC can best work together.
You need an expert to evaluate your business and quickly identify if ERC applies to you. Consultations are free, and you only pay if you qualify. Haynie & Company’s focus is to encourage employers to work with us on any aspect of the Employee Retention Tax Credit process. There are countless conditions, contingencies, and stipulations that require the service of a knowledgeable and experienced CPA. That’s why Haynie & Company, following the initiation of employee retention credits, created a team of professional ERC consulting CPAs dedicated to facilitating businesses’ applications.
Haynie & Company’s Team of Specialized ERC Consulting CPAs
During the pandemic, businesses across the country were forced to watch their books with a hawkish eye. The government’s stimulus, generated primarily through the Paycheck Protection Program, was essential to keeping businesses running as COVID-19 shut down the economy. Haynie & Company began receiving calls at branches throughout the country from owners, executives, and managers seeking advice about the PPP loan forgiveness. Our consultant CPAs helped dozens upon dozens of businesses ensure that their original applications and forgiveness applications were accurate, avoiding disastrous wait times in the event of requests for changes or further information.
Haynie & Company has received the same number of requests for the team of specialized ERC consulting CPAs we formed in wake of the IRS amendment. Our ERC consulting CPAs have made life infinitely easier for businesses across the nation, offering advice on everything from wages paid to gross receipts. Further than the spared effort and resources, companies find that working with a professional ERC consultant offers peace of mind and the assurance that they will get the reimbursement they deserve. Haynie & Company understands more than anyone that businesses are relying heavily upon these funds and that any hitch or delay can cause severe disruptions for operations and development. Our tax credits consulting CPAs stay with clients every step of the way so they are constantly apprised of the status of their funds.
With the American Rescue Plan Act being so crucial to cash flow management and employee pay, Haynie & Company offers your business a lifeline as you continue through the pandemic and beyond. Regardless of your sector, industry, size, or age, Haynie & Company’s team of specialized ERC CPAs will make absolutely certain that you get your money back in a timely manner.
Do You Need Help with Your Employee Retention Credit? Contact Haynie & Company Today
Since 1960, Haynie & Company has provided the full range of CPA services to businesses of all shapes and sizes. The pandemic thrust upon our economy a novel set of challenges, and our team of professional CPAs responded, creating a nationwide team of pandemic stimulus consultants. Our Employee Retention Credit CPAs have helped countless businesses ensure their ERC applications go smoothly. Visit us online, call, or email us anytime for more information or to schedule a free consultation.
