In this video update, we discuss several small business case studies and examples across a variety of industries and the actual refund checks that those companies are receiving for their ERTC rebate.

Depending on when you filed for the ERTC it's can take somewhere between 6 to 9+ months to actually receive the refund check back to the business. That said, things are starting to backlog fairly significantly at the IRS and it will probably get pushed out longer than a year or depending on how well they're able to keep up with the demand for it right now.

But we wanted to discuss some case studies to give you an example of the different types of industries that are qualifying for this refund program. One thing to note is that there's not a direct correlation between the size of the refund check and the number of employees a business has.

Obviously there's some correlation to that in terms of how much payroll they have, but there are several variables that go into these calculations that can definitely differ. So for example, we had a small nonprofit with less than 30 employees get back more than $750,000. We've also had scenarios where a company with several hundred employees only got back $150,000, so it's kind of all across the board in terms of how the actual calculations end up working out.

But there are definitely some obvious industries like bars, nightlife, clubs, healthcare, restaurants, gyms, hospitality, etc. Most of those types of companies were affected in one way or another in every single state across the country, so there are some industries that are kind of a no-brainer for this.

But there are a lot of other industries that you might not think would be eligible for this just based on the fact that they had their best revenue years in 2020 and/or 2021. Most people don't realize this, but you can actually have an increase in revenue and still qualify for the ERTC. It's really just designed to be an incentive for retaining your employees through the pandemic and a thank you to help kickstart the economy and all the small businesses that make it up. Here are some example industries and their corresponding refund checks:

Bar & Nightlife Industry - $553,500+ in 2020 & 2021 - 41 employees

Healthcare Industry - $599,891.59 for 2020 – 195 employees

Contracting Industry - $364,283.71 for Q1 2021 - 59 employees

Nonprofit Industry - $111,150.41 for 2020 - 25 employees

Restaurant Industry - $213,029.88 for 2020 – 56 employees

Distribution Industry - $1,152,330.98 for Q1 2021 – 208 employees

Home Services Industry - $39,262.33 for 2020 – 23 employees

Manufacturing Industry - $252,104.88 for 2020 – 63 employees

Hospitality/Hotel Industry - $620,416.97 for 2020 - 383 employees

Marketing Industry - $50,954.46 for Q3 2021 - 11 employees

Food Prep Industry - $528,340.02 for Q1/Q2 2021 - 156 employees

School/Education Industry - $111,150.41 for 2020 - 25 employees

Gym & Exercise Industry - $51,455.01 for 2020 - 16 employees

Church/Religious Organization - $30,782.22 for 2020 - 12 employees

Franchise Industry - $371,551.39 for 2020 - 312 employees

Beaty/Hair Salon Industry - $107,793.22 for 2020 - 36 employees

Staffing/Recruiting Industry - $275,099.46 for 2020 - 326 employees

Field Exam Industry - $324,846.66 for Q1/Q2 2021 - 30 employees

Engineering Industry - $21,000+ for Q1-Q3 2021 - 2 employees

Restaurant Industry - $1,950,000+ for 2020 & 2021 - 150 employees

Franchise Industry - $5,250,000+ for 2020 & 2021 - 350 employees

Software Industry - $398,017.23 for 2020 - 19 employees

Insurance Industry - $127.932.01 for 2020 - 9 employees

Security Industry - $1,245,000+ for 2020 & 2021 - 389 employees

Nonprofit Industry - $245,000+ for 2020 - 49 employees

Campground/RV Industry - $260,973.10 for 2020 - 73 employees

Cleaning Industry - $170,865.03 for 2020 - 55 employees

Pizza & Sandwich Industry - $376,455.17 for 2021 - 91 employees

Multi Location Restaurant - $203,233.79 for 2020 - 53 employees

Another factor you want to pay attention to is the years that they've applied for so far because all these case studies are just what they've applied for so far, but they a lot of businesses are eligible for additional quarters too and they haven't filed for those time periods yet.

Another thing to mention is that a lot of these businesses were told prior that they wouldn't be eligible for this program by their CPA or accountant (or some other advisor). There are some industries that are a no-brainer for this and almost always qualify for this like restaurants and healthcare, but some of the businesses like manufacturing, marketing agencies, private schools, churches and religious organizations, franchises, etc.

Likewise, if an investment group has several franchises in a holding company, as long as at least one location qualifies for this then technically that whole group should qualify for the rebate across every location.

Something else to point out is that the maximum number of employees you can have to qualify for this is 500 full-time employees - but it's not full-time equivalent. So what that means is that you can technically have unlimited part-time employees.

We're seeing a lot of scenarios in the staffing/recruiting industries and restaurant groups with upwards of 2000 part-time employees qualifying for the ERTC now. As long as the business is eligible and as long as the employee count doesn't exceed that 500 full-time employees then technically they can be approved and that's where we're seeing some huge refunds like $5.2M or more.

Anyway, the goal of this is to show you some examples of all the different industries that are qualifying for this program right now and to implore that you at least look into it and even get a second (or third) opinion if needed to see if you're eligible for this and make sure you're not leaving any money on the table.

Because we've run into so many scenarios where businesses were told that they won't qualify for this, but find out later they actually are when they have a specialist firm take another look.

A lot of accountants, CPAs, tax attorneys, and financial advisors aren't up to date with the most recent legislation (to no fault of their own because it's been a crazy couple of years and tax law doesn't usually change that frequently), but it's still worth looking into.

So if this sounds interesting and you haven't applied for it yet then I would highly recommend at least taking our free 30-second eligibility quiz below to see if you could be eligible for this refund as well.

If we're not 100% certain then we'll ask you some more questions and we can also connect you with a specialist CPA firm who can give you advice based on your specific circumstances and business.

Likewise, we have several FAQS listed below as well if you want to read through those as well as several recent success stories, reviews, testimonials, etc. The entire process only takes a few minutes to gather the forms upfront and the credit calculation - depending on the complexity of your business/payroll - usually only takes a few weeks to complete.

Then if you want to move forward to obtain the refund credit, you would just amend the returns and wait to get paid. The current turnaround timeline is about 5-9+ months. But that could become significantly longer in the near future, but if you need the capital sooner, we recently found a 3rd party commercial lending company that can shorten that timeline down to 2-4 weeks.