Hardware Podcasts

BONUS: Understanding the Employee Retention Credit (ERC) for Manufacturers

Manufacturing Happy Hour · 25 Mar 2022 · 13m

What this episode covers

Josh Fox, CEO of Bottom Line Concepts, explains the Employee Retention Credit (ERC) to manufacturers, clarifying that companies receiving PPP funds can also claim ERC due to rule changes in 2021. He details qualification criteria based on employee count and operational changes like supply chain disruptions or layout modifications, noting that 80% of potential clients are unaware they qualify. Fox highlights the financial impact, estimating savings of $8,000 to $10,000 per employee, which can amount to millions for mid-sized firms, and urges manufacturers to act quickly despite IRS processing delays.

Most relevant to

early-stage companies

Topics

Mentioned

Companies
Bottom Line Concepts
Also
PPP, IRS

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