George Calton, Jr. - Financial Advisor

I've had clients ask about the ERC. One year ago, there were plenty of advertisements about "free money," thousands of dollars to companies through the ERC program, and how companies could apply. Fast forward to today, and the IRS has a big problem on its hands -- many of the claims submitted were fraudulent, funds were paid out for and it is now is trying to collect those through civil and criminal enforcement actions.

Financial Lesson: If someone is promising you free government money, buyer beware. The best course of action is to consult with a CPA and other financial professionals who are familiar with how a particular program might work.

What's Happening With the Employee Retention Tax Credit? The pandemic-era employee retention tax credit has received much attention lately from the IRS and Congress. What does that mean for your business?