The Coronavirus outbreak has significantly impacted numerous small to medium enterprises. To alleviate these financial hardships, the government has initiated an Employee Retention Credit scheme to infuse capital into companies that meet certain criteria. Could your business be losing out on essential funds? Keep reading to understand the workings of the Employee Retention Credit and identify top-ranking ERC firms for securing this refund.
The Employee Retention Credit (ERC) is a tax incentive for businesses striving to maintain their workforce amid the COVID-19 pandemic. This reimbursable grant, brought into existence by the Coronavirus Aid, Relief, and Economic Security (CARES) Act of 2020, offers financial respite.
This provision is aimed at companies grappling with closures or significant slumps in gross earnings throughout 2020 and 2021. The fiscal assistance from this program is specifically designed for small and medium-sized enterprises.
Incorporated within a more significant pandemic relief allocation, employers can claim up to $26,000 per employee they manage to retain. It was feasible to garner up to $5,000 per staff member in 2020 and an additional $7,000 per worker during the initial three quarters of 2021. The sum your business can claim hinges on eligible wages and healthcare expenditures incurred for your workforce.
"In our quest to uncover the top ERC entities, we considered the charges for services and the provision of interim financing to ensure continued operations. We examined their holistic qualification procedures and how long they process a claim. As a final measure, we identified unique attributes that distinguished each company."
| ERC Company | Pricing | Bridge Loan Availability | Qualifying Process | Processing Time | Other Features |
| ERC Specialists | A portion based on the refund received | No | Detailed qualification questionnaire | Lightning-fast results | Team of payroll specialists |
| Bottom Line Concepts | Based on your grant | No | Short form followed by a phone call or email | Not Listed | Quiz to see if you qualify |
| Omega Accounting Solutions | Not listed | Yes, financing in as little as three days | Free 10 minute consultation | Not Listed | Employee retention credit calculator |
| ERC Today | A portion based on the refund received | No | 12 question initial application | 1-2 weeks to file | Secure portal |
| ERC Assistant | Not listed | No | 45-second qualification quiz | Not Listed | Business owner knowledge |
| Lendio | 15% of your refund | Yes, funds in as little as 24 hours | Simple eligibility questionnaire | Takes on average 25 days to file | Payroll system integrations, mobile app |
| Innovation Refunds | 25% of your refund | No | 8-minute online application | Not Listed | Audit protection, dedicated ERC refund agent |
| Pricing | Based on a portion of the refund received |
| Star Rating | 4.4 |
With years of proficiency in payroll management, ERC Specialists is a seasoned player when it comes to the best ERC companies. Their advantage is that Employee Retention Credits are processed through payroll returns rather than income taxes.
Businesses working with them reap 10% to 20% more profits compared to those less acquainted with the scheme. The processing pace at ERC Specialists is unparalleled, ensuring quicker payments for you.
Why we chose it: ERC Specialists lives up to its name, averaging higher refunds than other companies in the industry.
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Pricing: The compensation you provide to ERC Specialists isn't fixed; it's contingent on your rebate. You can reimburse after getting your funds or enjoy a reduction in charges if you decide to pay in advance.
Though ERC Specialists brings a wealth of opportunities to the table, it, unfortunately, doesn't provide bridge loans. In case your business is suffering financially due to the pandemic, it's advisable to seek advice from a bank or financial establishment for potential funding solutions.
A comprehensive questionnaire guides you through the criteria determination process. Once this form has been filled out, a representative from ERC Specialists will reach out to inform you if you're eligible for a refund or not.
Thanks to an efficient procedure, ERC Experts pride themselves on their quick response time. Generally, it only takes a couple of weeks to review your documentation and forward you the necessary papers for signature.
Many businesses that propose help with Employee Retention Credit lack the essential payroll expertise required to optimize your grant. ERC Specialists, with years of industry experience under their belt, empower their team to completely comprehend the procedure.
>> Start Using ERC Specialists >>
| Pricing | Based on your grant |
| Star Rating | 4.7 |
Bottom Line Concepts boasts an impressive history in securing ERC grants. Renowned entities such as Rolex, GNC, and even the Boston Red Sox have benefited from their expertise in recovering resources diminished by the COVID crisis. Their team is well-versed in the nuances of grant procedures, retrieving more than $1.2 billion so far. What sets Bottom Line Concepts apart is their payment structure: they only receive remuneration proportionate to the revenue they generate for your business. This ensures there's no financial jeopardy if you fail to qualify.
Why we chose it: Bottom Line Concepts goes to work for you, maximizing your grant amount with its proven process.
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Pricing: The pricing details remain undisclosed on the Bottom Line Concepts website. However, rest easy knowing that payment becomes necessary only when the firm successfully secures grant money for you.
Bottom Line Concepts doesn’t provide any bridge loans. Should you require financial aid to address a temporary operational shortfall, your best option would be a bank or loan organization.
Upon visiting their webpage, you'll encounter a concise questionnaire designed to verify your eligibility. The queries are carefully crafted to assess, even if it's for a lesser duration than the program ordinarily permits. Upon completion, a representative from Bottomline Solutions will connect with you to advance the procedure.
Bottom Line Concepts operates a branch specifically for Employee Retention Credits, catering to a vast client base. Their process is user-friendly and aids in speeding up your refund, albeit the speed at which the IRS processes your funds isn't under Bottom Line Concepts' jurisdiction.
The Bottom Line Concepts crew possesses a detailed understanding of the ERC submission procedure. A straightforward survey guarantees eligibility for reimbursement and accurately determines your entitlements.
>> Best ERC Company: Bottom Line Concepts >>
| Pricing | Not listed |
| Star Rating | 4.6 |
While Omega Accounting Solutions can't dictate IRS operations, they excel in prompt processing on their part. Beginning with a complimentary ten-minute consultation, they lead you to upload your documents.
Their ERC calculator offers a solid estimate of your potential return when it's due. And for those who can't endure the waiting period, bridge loans from Omega Accounting Solutions are available to keep you financially stable.
Why we chose it: Omega Accounting Solutions has a fast application process where you’ll have a rough idea of how much you’re owed within minutes.
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Pricing: Omega does not disclose pricing information on its website. Therefore, during your complimentary consultation, it’s essential to ask about the charges applicable to your particular situation.
As a subsidiary of its mother corporation, Omega Funding Solutions provides short-term financing options such as bridge loans. The sum you qualify for is contingent upon your anticipated ERC refund value when filing. There's no need for an immediate outlay, and the funds could be in your account within a mere three days.
The initiation of the eligibility procedure begins with a straightforward form on Omega Accounting Solutions' online platform. Should you meet the criteria based on the preliminary inquiries, a representative will reach out to provide a no-cost consultation for ten minutes.
Omega guides you through a straightforward three-step process, provided that you fit the prerequisites. It's necessary to upload relevant documents on their platform. Subsequently, in-house specialists will estimate your refund and arrange the filing on your behalf.
Before you even turn in your documentation, Omega Accounting Solutions calibrates your anticipations using an ERC estimator for your group. You won't be required to part with a single penny until you have confirmed what's expected.
>> Start Using Omega Accounting Solutions >>
| Pricing | A portion based on the refund received |
| Star Rating | 4.2 |
Seeking a swift refund? ERC Today could be your ideal solution. Their efficient system expedites the filing process, potentially completing it in just a week, enabling the IRS to swiftly manage your claim. This constitutes their sole focus, and they've mastered navigating bureaucratic complexities without bypassing any steps. They have implemented a fortified client portal to shield your confidential details from widespread online exposure.
Why we chose it: ERC Today’s simple and flexible system can have you filing claims in as little as seven days.
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Pricing: The financial transparency of ERC Today remains somewhat obscured, particularly in regard to their deductions from your refund as operational expenses. The initial submission process doesn't impose any fees during the course of your engagement with them.
ERC Today, as a refund expert, doesn't venture into the realm of bridge loans or additional benefits. Its primary aim centers around securing your funds swiftly by accelerating your filing process.
The first step to discovering your eligibility for a grant is the completion of a 12-question preliminary application. Following approval, you will be granted entry into a secure platform where you can submit all necessary paperwork.
Typically, it requires about one to two weeks for ERC Today to process and forward your claim to the IRS. Not only is this one of the quickest turnaround times in the industry, but it's also counted among the most precise.
ERC Today is well-equipped with program specialists to assist you in managing your claim, sidestepping any potential delays that might arise from your payroll company. All necessary submissions are processed via a secure portal, reassuring that your data is safeguarded.
| Pricing | Not listed |
| Star Rating | 4.5 |
The team at ERC Assistant comprises experienced entrepreneurs who are well-versed in the business landscape. After procuring an excess of $1.5 million beyond their initial predictions, they decided to assist other businesses in achieving comparable victories. The process of qualifying for your grant has been simplified by ERC Assistant's fast and efficient 45-second questionnaire.
Why we chose it: ERC Assistant has the backing of business owners who have been through the process to get you the maximum refund for your company.
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Pricing: Establishing your endorsement via ERC Assistant comes without any charges. Although the firm refrains from disclosing its pricing structure, its commission is contingent on the refund you receive.
At present, ERC Assistant doesn’t offer any bridging loans. Their dedicated team connects you with an optimal company to expedite your refund process. In case of urgent financial assistance, it's advisable to seek a trustworthy lending institution.
In less than a minute, precisely 45 seconds, you can ascertain your eligibility for a refund courtesy of the ERC Assistant's swift qualification procedure. If you satisfy the prerequisites, one of our team members will reach out t guide you through subsequent actions.
Although ERC Assistant doesn't function as an accounting entity, selecting the correct one for your needs may require a bit of time. Having a top-tier firm on your side often makes the process of filing considerably smoother.
The operations of ERC Assistant are spearheaded by fellow entrepreneurs, not desk-bound workers. Their experience with the procedure provides them with a comprehensive understanding of how to secure the most substantial grant for your small or medium-sized enterprise.
| Pricing | 15% of your refund |
| Star Rating | 4.4 |
Lendio distinguishes itself through the myriad of financing options it offers for your business, ensuring you maintain peak performance. Be it funds for machinery, settling outstanding invoices, or any other financial need, Lendio is at your service.
You can expect to have the required capital in less than a day. They offer some of the most competitive rates for ERC processing in the market, and their convenient mobile application allows you to apply from just about anywhere.
Why we chose it: Lendio has a long list of financing opportunities for acquisitions, equipment, and general use to keep you in business while you wait for a refund.
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Pricing: Opting to check your eligibility or applying for reimbursement through Lendio comes at no financial cost. Once it's time to access your funds, the company stakes a fair claim of 15% for their involvement in the procedure.
Lendio goes beyond offering bridge loans. This company can provide general loans that are processed within a day of application, featuring fair repayment rates. In addition to this, they extend particular loan options with favorable conditions designed to elevate your business operations.
The journey with Lendio begins effortlessly with a brief survey. Upon successful completion, a representative will initiate contact to assist you in finalizing the procedure.
Experiencing a slight delay when navigating Lendio's application procedure is common. On average, it takes around 25 days to submit your claim with the IRS. Following that, you're largely dependent on the government's efficiency to receive your due amount.
Dealing with documentation can be tiresome. Hence Lendio collaborates with more than 150 payroll applications to expedite the process. You can forward requests from your computer or leverage their superb mobile application to send in your application from any location with internet access.
| Pricing | 25% of your refund |
| Star Rating | 4.3 |
Experience reassured filing with Innovation Refunds, where your Employee Retention Credit documentation undergoes rigid analysis by a squad of tax lawyers. They won't see a dime until you secure your funds, and they stand ready to vouch for their work in case the IRS starts questioning. Rather than dealing with impersonal computer algorithms, Innovation Refunds provides you with an assigned ERC refund specialist for personalized attention to your claim.
Why we chose it: A power-packed team of tax lawyers, coupled with complimentary audit safeguards, guarantees you extract maximum value from your refund while ensuring its security.
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Pricing: The scheme of Innovation Rebates will reduce your Employee Retention Credit by 25%, reflecting the effort you put in to amplify your earnings. As the prosperity of the firm is interlinked with yours, you can be assured that you are receiving the maximum possible benefits. With complete transparency and devoid of any concealed charges, you possess full awareness from inception to conclusion.
Innovation Refunds concentrates its efforts entirely on securing your funds and does not offer interim loans to bridge any income discrepancies. If you need financial assistance before your payout lands, consider exploring financing options with your bank.
The journey of staking your claim commences with assessing your grant eligibility and then strategically striving to maximize the monetary return. This procedure might require a commitment of approximately eight minutes for form completion.
When interacting with Innovation Refunds, be assured that you're communicating with a genuine individual who operates within standard business hours. Their representatives swiftly and proficiently process your claims while ensuring they meticulously dedicate time to secure what is rightfully yours.
When you engage the services of Innovation Refunds, you are assigned a dedicated agent who manages your claim process until its conclusion. You don't have to worry about being shuffled between different representatives or interacting with impersonal algorithms that might make inaccurate judgments about your business. After receiving your funds, Innovation Refunds is responsible for shielding you from audits at no additional cost to you.
While there's a surge in the establishment of ERC corporations, it doesn't imply they all operate identically. We employed specific standards to identify the top-performing ERC firms you can leverage for claim submission and securing your reimbursement.
Want to learn more about ERC companies and the filing process? This FAQ may have the answers you’re looking for.
The enterprises featured on our ERC roster are all bona fide entities recognized for handling Employee Retention Credit applications. While we can't vouch for the legitimacy of other firms, it’s probable that a few unscrupulous ones may seek to defraud businesses.
It's common for businesses to claim a proportion of your rebate, usually between 20-30%, for the completion and submission of your ERC documents. This may seem like a substantial amount, but it’s crucial to balance this against the time you would spend on paperwork and compare it with your anticipated refund.
The deadline to file for an Employee Retention Credit for 2020 is April 15, 2024. Filing for 2021 ends one year later, on April 15, 2025.
As of the moment, the IRS requires approximately five months to complete a claim review. This is under the condition that you've submitted flawless paperwork at your initial attempt in an area where an ERC firm can provide assistance.
Knowing that one might be eligible for government aid because of COVID-related shutdowns can feel like a sigh of relief. Regrettably, applying for and securing these funds can be quite protracted and complex. This is where ERC firms come in handy, streamlining the process and ensuring you receive an accurate payout as swiftly as possible. Though we rank Bottom Line Concepts highly, each company on our list has the potential to serve your needs proficiently.
