Challenge

Like many small business owners, Paul Bolden found himself paying rent for an office closed by the COVID-19 pandemic, while helping his employees adjust to a remote work environment. Despite use of supports like the federal Paycheck Protection Program (PPP), there simply wasn’t enough revenue to cover employee salaries, their health insurance premiums, and other benefits. Paul decided to sacrifice his own pay, rather than lay off any staff.  

How Paychex Helped

Until his Paychex representative contacted him, Paul didn’t realize how simple it could be to claim the federal Employee Retention Tax Credit (ERTC) for keeping his staff employed. Thanks to our ERTC Service, Paul filed amended tax returns to claim more than $70,000 he can now invest back into his agency. He even received help submitting the paperwork, making the process almost as simple as running his payroll.

Success Strategy

Paul can’t help but smile at the support he received to recoup some of his losses and put his attention back on growing his business. He remains committed to supporting his staff.

 “I am forever grateful for the thoughtfulness that I had the opportunity to get that money,” Paul says, noting the benefits will impact his employees as well. “It goes all the way down to the everyday people who are working to feed their families.”