Real Benefits from the Employee Retention Credit in Healthcare

With many businesses continuing to face the repercussion of COVID-19, there are still opportunities to receive additional cash to help support your business. The benefits that businesses are experiencing from the Employee Retention Credit (ERC) have been astounding. If your business has not investigated this credit, time is of the essence. Although the ERC calculations can be meticulous (especially for businesses that received a PPP loan), the potential benefits that practices had seen are worth examining. We have worked with many business owners in the healthcare industry (medical, dental, veterinary practices, and others) to help calculate and claim this credit.

Some examples of the Employee Retention Credits realized include:

  • Small dental practice with eight employees will benefit from a credit of about $19,000.
  • Optometry practice with 23 employees claimed a little over $70,000 in credit.
  • Medical office with 39 employees claimed a credit close to $160,000.

If your business has faced a significant decline in gross receipts in 2020 and 2021 or was forced to shut down or modify services due to the governor’s mandates, you may qualify.

The ERC can be substantial and help you continue to succeed in these uncertain times. Our ERC team has the knowledge to determine the qualifications, feasibility, help calculate the credit, and claim it.

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Robert DeVries
Robert DeVries

Robert is an Associate in BeachFleischman's Tax department.

Lyuda Eisenman
Lyuda Eisenman

Lyuda Eisenman is a Tax Shareholder for BeachFleischman PC. She has provided accounting, tax and numerous consulting services for a variety of privately held companies and has over 12 years of experience in public accounting.

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