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Get more money for your restaurant!!!

Join the NMRA for a webinar with Brad Steward from Pulakos CPAs on the Federal Employee Retention Credit.

Recent legislative action(s) in December of 2020 and March of 2021 have made the Federal Employee Retention Credit, originally part of the CARES Act (March of 2020), available to more employers.

Think of the Federal Employee Retention Credit as a grant for your business to spend in whatever manner you desire. This is not a loan, so it does not need to be paid back.

Using the Federal Employee Retention Credit, a qualifying business can claim: (1) up to $5,000 per employee for 2020; and (2) up to $7,000 for each quarter of 2021. The funds can be spent on any business need, and there is no forgiveness form needed.

The Federal Employee Retention Credit is available to businesses with: (1) less than 101 employees in 2019 for the 2020 credit period; and (2) less than 501 employees in 2019 for the 2021 credit and meet the following criteria:

·        Those who Covid-19 has negatively impacted through a “full or partial closure” by federal, state or local government; or

·        Businesses who experienced a 50% decrease in gross receipts over any given quarter in 2020 (2019 compared to 2020), or a 20% decrease in gross receipts in a quarter (2019 compared to 2021)

The Federal Employee Retention Credit expires January 1 of 2022.