Cottage Digital Media has expanded its services for Los Angeles-based restaurants, bars, and entertainment businesses that were affected by the COVID-19 pandemic, helping them claim the tax credit refunds they are owed by the government.
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Focused solely on maximizing refundable claims available under the Employee Retention Tax Credit (ERTC) program, the service, recently enhanced by Cottage Digital Media and offered in partnership with ERTC Recovery Aid, is intended to streamline the refund process for businesses that are yet to apply for IRS funding.
For more information, please visit https://ertcrecoveryaid.com
The newly expanded service is targeted at local small and medium-sized businesses seeking to claim tax credits established by the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Los Angeles-area restaurants, bars, and entertainment venues affected by the pandemic are eligible to claim a percentage of the wages and health plan expenses paid during the dates established by the legislation.
Cottage Digital Media's announcement follows a report by the National Restaurant Association documenting a backlog of refunds at the IRS. Further, many restaurants, bars, and entertainment venues didn't apply for the credit in 2020 and 2021 - despite meeting the eligibility requirements.
Created in 2020, the purpose of the ERTC was to help businesses retain staff despite economic uncertainty. Employers can claim 50% of qualified expenses paid between March 12, 2020, and January 1, 2021, and up to $10,000 in wages paid per employee during the first three quarters of the 2021 fiscal year. In total, businesses may be eligible to claim up to $26,000 per W-2 employee, or $33,000 for qualifying startups.
Small businesses that received funds through the Payroll Protection Program (PPP) may also be eligible to receive ERTC credits thanks to the American Rescue Plan Act of 2021, which modified and expanded the conditions of prior stimulus programs, Cottage Digital Media says.
Businesses in the Los Angeles area can claim their tax credit refunds after completing a 15-minute questionnaire available through Cottage Digital Media's website. No upfront payment is required, with the fee for businesses using the service being entirely based on the amount of the total refund received.
To ensure the maximum refundable credits for its clients, ERTC Recovery Aid does not use automated software, and all files are reviewed by a Certified Public Accountant (CPA) to safeguard against audits.
A spokesperson for Cottage Digital Media says, "We only specialize in maximizing Employee Retention Tax Credits for small business owners. You won’t find us preparing income taxes, compiling financial statements, or providing attestation services of any kind."
More details can be found by visiting https://ertcrecoveryaid.com
Contact Info:
Name: Patti Keitzman
Email: Send Email
Organization: Cottage Digital Media, LLC
Address: 380 Maple Street Suite 1782, Gallatin, TN 37066, United States
Website: https://ertcrecoveryaid.com/
Source: PressCable
Release ID: 89115464
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