The Employee Retention Credit (ERC) explained w/ Catherine Tindall
Service Business Mastery for Skilled Trades: Unlocking HVAC, Plumbing & Electrical Success
Release Date: 02/01/2023
Service Business Mastery for Skilled Trades: Unlocking HVAC, Plumbing & Electrical Success
Welcome to the Service Business Mastery Podcast! Visit our website for more episodes and insights! In this episode, we are joined by Patrick Lange from the Business Modification Group. Patrick, an expert in business valuations and sales, provides useful and actionable insights on maximising your business's value. Patrick is not only knowledgeable in business valuation but also actively engages on multiple platforms like YouTube, LinkedIn, and Facebook, where his mission is to educate people for free on how to raise the value of your business if you intend to sell it. He has...
info_outline Driving Your Business Forward: The Big Picture on Truck Wraps and Service Business Growth w/ CJ StratteService Business Mastery for Skilled Trades: Unlocking HVAC, Plumbing & Electrical Success
Have you ever wondered how a creatively branded service vehicle can create a massive impact on your small business's visibility and growth? In the current age of digital marketing dominance, we're shifting our focus to a traditional yet remarkably effective marketing method that can generate immense recognition for skilled trades businesses, HVAC companies, and the plumbing industry. CJ Stratte, the brilliant and dynamic CEO of On The Move Trucks, a nationwide truck leasing company, joins us in today's episode of the Service Business Mastery Podcast, to teach us more! CJ, an expert in brand...
info_outline Accounting Doesn’t Have to Suck | HVAC Business Finance Tips w/ Spencer Sheinin CPAService Business Mastery for Skilled Trades: Unlocking HVAC, Plumbing & Electrical Success
If you are passionate about your skilled trades service business but struggle to see it grow, or if you're simply curious about running a successful service enterprise, this episode of the Service Business Mastery Podcast is for you! In this episode, "Accounting Doesn't Have to Suck," hosts Tersh Blisset and Joshua Crouch engage with guest Spencer Sheinin, CEO and Founder of Shift Financial Insights, in a deep dive into the world of accounting, and how as daunting as it may appear, it doesn't have to suck! They explore hiring problems often faced by small and medium-sized businesses and how...
info_outline Revolutionizing HVAC Maintenance through Technology w/ Brian Feenie and Ben ReedService Business Mastery for Skilled Trades: Unlocking HVAC, Plumbing & Electrical Success
Are outdated practices holding back the HVAC industry from reaching its full potential? In this episode of Service Business Mastery, hosts Tersh Blisset and Joshua Crouch delve deep into the world of HVAC maintenance and how cutting-edge technology is reshaping the customer experience and the growth of HVAC businesses. We have the pleasure of welcoming Ben Reed and Brian Feenie from Measure Quick, a leading software solution for HVAC professionals. Ben and Brian have a combined experience of over 40 years in the home services and HVAC industries. They are passionate advocates for...
info_outline What Data Scientists Can Teach Us About Marketing with Rick B. & Carole LawsonService Business Mastery for Skilled Trades: Unlocking HVAC, Plumbing & Electrical Success
For many service businesses, marketing can feel like throwing random things at a wall and seeing what sticks. Sometimes, you get lucky. But in the ever-shifting landscape of new Google algorithms and increasingly tech-savvy competitors, luck isn’t gonna cut it. That’s why the best marketing is data-driven marketing. In this episode, we learn how to think more like data scientists when it comes to our marketing by speaking with Carole Lawson, bonafide data scientist and Chief Data Officer, and Rick B., CEO at MarketStorm, the company that’s delivering better marketing...
info_outline Negotiation Masterclass with Brian WillService Business Mastery for Skilled Trades: Unlocking HVAC, Plumbing & Electrical Success
The journey from technician to entrepreneur is fraught with risk — but as those who have successfully walked the path will tell you: with big risks come big rewards. In this episode, we speak with someone who has successfully walked the entrepreneurial path many times: Brian Will, Best-Selling Author and Business Consultant at Brian Will Media. Brian shares the secrets to scaling your business, from hiring to negotiating to checking your ego at the door — and everything in between. SHOW NOTES - Introduction and the problem with BLTs [0:00] - Introducing Brian Will [9:48] - The...
info_outline How Virtual Training is Reshaping the Service Business Landscape with Ken Midgett & Dan ClapperService Business Mastery for Skilled Trades: Unlocking HVAC, Plumbing & Electrical Success
Every technician knows the power of that on-the-job “aha” moment — when it finally clicks and training goes from theoretical to practical. What if your technicians could have that “aha” moment before they ever even leave for the job? In this episode, Ken Midgett, Plumbing Market Director, and Dan Clapper, HVAC Market Director, of Interplay Learning, join the show to share the exciting ways VR learning is making it easier for your techs to gain the skills needed to thrive in today’s service business landscape. SHOW NOTES - The benefits of remote training [0:00] - How...
info_outline The New Era of Business: Strategies for Success in the HVAC and Plumbing Industry w/ Noah Carter + Justin RileyService Business Mastery for Skilled Trades: Unlocking HVAC, Plumbing & Electrical Success
Is the traditional way of doing business becoming obsolete in the modern era? In this episode, Tersh Blisset and Joshua Crouch explore the changing landscape of service businesses, specifically in the HVAC and plumbing industry, and discuss how businesses can adapt to the new era of business. Our guests for this Service Business Mastery episode are our sponsors, Justin Riley + Noah Carter, the co-founders of Upfrog, a company that provides innovative solutions for service businesses. We have invited them to share their expertise and insights on navigating the evolving business landscape...
info_outline Innovate Your Business with CHATGPT and STORYBRAND Featuring RICK BERGMANService Business Mastery for Skilled Trades: Unlocking HVAC, Plumbing & Electrical Success
In this episode of the Service Business Mastery podcast, host Tersh Blisset is joined by guest Rick Bergman for an engaging discussion on innovative techniques to grow your business. Despite Joshua being absent due to a speaking engagement, the conversation flows seamlessly as they dive into various topics that are crucial for service business owners, managers, and technicians. One of the key highlights of this episode is the importance of utilizing technology to streamline operations and stay ahead of the competition. Rick Bergman shares his insights on tools such as Chat GPT and STORYBRAND,...
info_outline Building a Business Where Everybody Wins With Tommy MelloService Business Mastery for Skilled Trades: Unlocking HVAC, Plumbing & Electrical Success
A successful service business is one where everybody wins — your company, your employees and your customers. Sure, it can be a challenge to elevate your business to this level, but when you reap the rewards, you’ll find it’s more than worth it. That’s why in today’s episode, we’re joined by the legendary Tommy Mello, CEO at A1 Garage Door Service, who discusses his new book, Elevate, which is packed with tactics and strategies to overcome the challenges of growing your service business and help you reap those rewards. SHOW NOTES - Marketing and...
info_outlineAre you a business owner who saw your revenues plummet during the height of the COVID-19 pandemic due to government restrictions? Then you could be eligible to receive financial assistance from the government in the form of the Employee Retention Credit (ERC). Unfortunately, because of the complicated procedures in place, many business owners end up filing bad claims or worse, not file a claim at all.
Unfortunately for many business owners, the procedure for submission and evaluating whether you qualify for the credit at all is complex, and may involve digging through government announcements for the exact restriction that may have affected you. There is also the process of determining how much credit you qualify for, based on things like the wages your employees earned, and whether you paid them through the Paycheck Protection Program, among others.
The good news is that you may be eligible for up to $5000 per employee that you paid during the whole year of 2020 and $7000 per employee for three quarters during tax year 2021. The bad news is that there are several exemptions and caveats that apply, and they are enough to make anybody’s head spin. But if you have a headcount of more than 10 employees, and feel like government restrictions really impacted on your ability to operate and create revenue, then it’s worth having a tax professional evaluate your case.
In this episode, Catherine Tindall, one of the partners at Dominion Enterprise Services, a specialty CPA firm that specializes in helping businesses maximize their tax credits, gives us information about the ERC and whether you might be leaving a very significant number of dollars off the table by not filing a claim. She also talks about the consequences of filing a bad ERC claim, which can lead to an unapproved claim or worse, a stringent audit by the IRS.
In this episode, we discuss:
- What the Employee Retention Credit (ERC) is all about
- How to know if you are qualified to file an ERC claim
- What the process of filing an ERC claim can look like
- Why you need to know how to avoid filing a bad ERC claim
Check out these resources we mentioned during the podcast:
- This episode is kindly sponsored by Sera (visit their website) and CompanyCam (visit www.companycam.com/SBM for a 14 day trial and 50% off your first two months).
- Visit www.companycam.com/SBM and use code SBM for a free 2-week trial, 1:1 training and account setup, and 50% off your first two months!
Meet the Hosts:
Tersh Blissett is a serial entrepreneur who has created and scaled multiple profitable home service businesses in his small town market. He’s dedicated to giving back to the industry that has provided so much for him and his family. Connect with him on LinkedIn.
Joshua Crouch has been in the home services industry, specifically HVAC, for 8+ years as an Operations Manager, Branch Manager, Territory Sales Manager and Director of Marketing. He’s also the Founder of Relentless Digital, where their focus is dominating your local market online. Connect with him on LinkedIn.
Meet the Guest:
Catherine Tindall is one of the partners at Dominion Enterprise Services, a specialty CPA firm that works with other firms and their clients to maximize their tax credits.
Dominion Enterprise Services has a Proactive Tax Planning & Compliance Strategy that is holistically designed for your business goals to maximize your cash flow/savings and minimize your stress. Unlike typical tax professionals, Dominion Enterprise Services specializes in advanced tax reduction on top of routine tax compliance work.
Visit Dominion Enterprise Service’s Website: https://dominiones.com/
Check Out Catherine’s Ebook on the top 5 ERC mistakes to avoid: https://dominiones.com/for-business-owners/
Tune in to hear the latest and greatest in business services trends on Service Business Mastery on Apple Podcasts, Spotify, and our website.
Listening on a desktop & can’t see the links? Just search for Service Business Mastery in your favorite podcast player.