Life Insurance

Speak with a licensed agent and get expert advice on choosing a plan that’s right for you.

Whole life Policy:

A Whole Life policy can be used as an alternative to a traditional bank to build cash value. By taking out a loan against the policy, you can use the cash value as collateral to borrow money at lower interest rates than you could get from a bank.

Additionally, you can use the cash value of the policy to provide yourself with a death benefit at the end of your life. You can use it for a lot of things, the main purpose is to put your money to work for you, not you for your money. With a whole life policy correctly design and structure you can use it to buy the things you need or want, not using your money and still gain interest and dividends in the process.

Also is the best way to create generational wealth. It’s simply the extra step rich people take but don’t tell. That is where to put your money first and always pay yourself.

If you have any questions, happy to answer them.

You can do things like:

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Buy a car or house or just the down payment

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pay for vacations, invest in something

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Double gaining, be a private money lender and endless opportunities.

Qualifying is complex, we provide white glove service for you!

Two ways to qualify:

A significant decline in gross receipts for any eligible quarter in 2020 or 2021, defined as a 50% reduction in revenue during any quarter in 2020 compared to the same quarter in 2019, or
a 20% reduction in revenue in any quarter of 2021 compared to the same quarter in 2019.

A full or partial suspension of operations due to orders from the federal government, or a state government having jurisdiction over the employer, limiting commerce, travel, or group meetings related to COVID-19.

Below are some examples topics regarding how your business may have been impacted during the COVID pandemic.

Change in business hours
Supply chain or vendor interruptions
Reduction in services offered
Reduction in workforce or employee workloads
Lack of travel and group meetings
... and more

Note: An employer’s independent decision to suspend
part or all of its operations does not meet these criteria.

Partial Suspension – Suspended by Government Order

Partial Suspension

To meet the requirement of a partial suspension of operations for the purpose of claiming the ERC, a business must have experienced a nominal impact to their operations as a result of government order restrictions.

Governmental Orders

It’s important to consider “orders from an appropriate governmental authority” as defined by the IRS.
These orders include those issued by the federal government, state governments, or local governments that limit commerce, travel, or group meetings (for commercial, social, religious, or other purposes) due to COVID-19.

Defining Nominal Impact:

Two Considerations

More than a Nominal Portion of business operations are suspended or modified by a governmental order.
According to the IRS guidance suspended, restricted or modified portions of a business’s operations is considered to be more than nominal if:
1- Gross receipts from that portion account for 10% or more of a business’s total gross receipts, OR
2- Employee hours worked related to that portion account for 10% or more of the total hours worked.
Note: Source IRS Notice 21-20 – Ref: IRS
FAQ#11 & Ref: IRS FAQ#18

Note: An employer’s independent decision to suspend part or all of its operations does not meet these criteria.

The Statutory History of ERC

After the ERC was initially created, the government extended and modified the ERC by subsequent acts. Below is a timeline illustrating the progression and changes to the ERC program.

The CARES Act

The Consolidated Appropriations Act

The American Rescue Plan

The Infrastructure Bill

The CARES Act

The Consolidated Appropriations Act

The American Rescue Plan

The Infrastructure Bill

What is the Employee Retention Credit (ERC)?

The Employee Retention Credit (ERC) is a refundable payroll tax credit for employers who experienced difficulties due to the COVID-19 pandemic from March 13, 2020 to September 30, 2021.