ERC Program: Employee Retention Tax Credit for COVID Interruptions

two women paying for their coffees at a cafe

Inflation has taken a toll on small to mid-sized businesses across the country. A recent survey from the US Chamber of Commerce found that 88% of small business owners are concerned about rising prices – with one in three owners naming inflation as the top concern. 

Celero has paired with Adesso Capital to provide real solutions for small businesses. We are excited to provide companies with the expanded Employment Retention Credit (ERC) to help businesses keep their employees on the payroll.

What is the ERC Program?

The ERC was created as a federal incentive to aid in employee retention. Your business could qualify for up to $26,000 per W2 employee, with the opportunity for an additional $7,000 by the end of the year. 

Even if you received original Payment Protection Program funding during the pandemic, your company can still take advantage of this opportunity. The money you receive is not a loan. 

Who Is Eligible?

Employers are eligible to receive the credit if government orders limiting commerce, travel, or group meetings due to COVID-19 caused a full or partial interruption to the business or a significant decline in gross receipts during any calendar quarter. 

We’ve partnered with Addesso Capital to make the filing process simple and easy. Not only will Adesso Capital handle the processing of your tax credit, the company will also maximize the money you receive. 

How does the ERC Help Small Businesses?

Small businesses have been hit hard, not only in terms of their revenue, but also in their purchasing power and ability to compete with larger companies for talented employees. The new ERC tax credit enables small businesses to pay competitive wages and attract and retain great employees. 

Celero and our partners are here to help small businesses stand strong in a competitive market. The ERC is a vital resource for our small businesses to survive and grow. 

Contact us today to learn more about the ERC program for Celero merchants, powered by Adesso Capital.