Are you missing out on ERC tax credits?
January 11, 2023 | 10:29 am CST
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Concerns have been raised that many companies in the woodworking industry might be missing out on eligibility for a tax credit program that came out of pandemic relief efforts passed by Congress.

The Employee Retention Credit is a program of the CARES ACT passed by Congress during the COVID pandemic. Sister programs PPP & EIDL are now ended, but ERC remains available. Companies that qualify for ERC can obtain up to $26,000 per W-2 employee. Many businesses have not yet applied for ERC.

“There are many reasons why companies have not yet taken advantage of the ERC program,” said Shawn Maberry, owner of RSA Solutions. Inc. “That includes lack of awareness, revenue didn’t decrease, CPA told them they probably didn’t qualify, fear it is a scam, or because they received PPP.  None of these are valid reasons for not qualifying.”

Maberry said RSA Solutions offers a free, no obligation call to help businesses learn how to qualify and what the processes are to receive funding. You can schedule here.

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About the author
William Sampson

William Sampson is a lifelong woodworker, and he has been an advocate for small-scale entrepreneurs and lean manufacturing since the 1980s. He was the editor of Fine Woodworking magazine in the early 1990s and founded WoodshopBusiness magazine, which he eventually sold and merged with CabinetMaker magazine. He helped found the Cabinet Makers Association in 1998 and was its first executive director. Today, as editorial director of Woodworking Network and FDMC magazine he has more than 20 years experience covering the professional woodworking industry. His popular "In the Shop" tool reviews and videos appear monthly in FDMC.