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Our government has identified unhealthy lifestyle choices as one of our greatest threats to our nation’s security. These unhealthy choices we make as a society today will have long term, detrimental implications to our future. An already burdened healthcare system is just going to get worse if we don’t take action to better ourselves.The Preventative Health Initiative program was created to educate our population and eventually curb the steady increase of diabetes, heart disease, obesity and many other lifestyle diseases costing our country billions per year in healthcare expenses. A trend downwards will translate to TRILLIONS in savings over the next decade. As part of the Affordable Cares Act, our government is providing tax savings incentives for businesses and tax credits to employees who participate in basic preventative health measures aimed at educating the lifestyle choices we make daily. From shopping at the supermarket to seeking mental health counseling, these resources are aimed at helping all of us live healthier,longer lives.
In order to motive participation, employees will receive an average of $150/month just to participate in 4 simple PHS events per year. Whether it’s completing a health profile with 3 helpful videos or full embracement of all resources offered, their tax credit is theirs to keep for participating. All with zero net effect on their current take home pay.
In addition, for each employee participating, the employer will receive an average of $500 per employee per year in payroll tax credit savings. This savings is recognized right away from the reduction in the employers tax liability creating immediate cash flow.
In summary, healthier workers both physically and mentally, tax credit incentives to the employee, payroll tax savings to the employer, ALL AT NO NET COST.
Many ERC recipient companies that have already filed and received their credit for ERC have NOT amended their corporate or personal returns. It is required by the IRS that these amendments be filed!! We are aware that mane ERC companies did not advise their clients on this filing.
Unfortunately, it is a filing that needs to take place in order to stay compliant and not trigger an Audit. Fortunately, WE ARE HERE FOR YOU!! Our expert CPA’s will get in touch with you within 48 hours and advise you on the filings you need done! We’ll get you on the right track so you and your business can enjoy and spend the money you received for ERC without any penalties!
Get in touch with us NOW!
With access to your payroll diaries, our expert team will perform a detailed analysis of each employee and provide their tax benefit as well as the employer total payroll tax credit.
With basic payroll documentation, our team will have your analysis complete in 3-5 business days. Please click here to complete your questionnaire.
Our short questionairre will help us understand what tax saving programs your company is eligible for. It also includes a savings calculator to project potential savings based on payroll data and available government programs like PHS.
Hassle Free Process: Say goodbye to complex paperwork and compliance headaches. We handle it all, so you can focus on growing your business.
Trust in our proven track record of securing substantial payroll tax savings for businesses just like yours.
Relax knowing your payroll taxes are optimized, and you’re in compliance with all regulations.