Unlock Employee Retention and Recruiting Benefits with Grazzy and the ERTC
The Employee Retention Tax Credit (ERTC) was available during the pandemic to provide employers with relief from the economic hardships caused by the COVID-19 pandemic. This tax credit helps employers reduce their employment tax burden and can be as high as $26,000 per employee. Eligible employers can claim the ERTC on their 2020 and 2021 tax returns. Additionally, eligible employers can claim the ERC for wages paid from October 1, 2021, through December 31, 2021, if they qualify as a recovery startup business.
Grazzy, a next-gen employee payments platform, is helping hotels, bars, restaurants, salons and more improve employee retention and recruiting by increasing wages, unlocking instant access to same-day earnings, and offering more inclusive financial wellness for hourly employees. The platform offers digital tipping enablement at no cost and the lowest fees in the market. It also helps hourly employees make more money, access it the same day, and save and spend in better ways. As a result, Grazzy reduces retention and recruiting costs for hospitality and services businesses of any size.
Grazzy provides a P2P payments experience that is both modern and user-friendly, but also offers the enterprise-level branding, compliance, and reporting necessary to maximize ROI. It also unlocks cash constrained same-day tip-outs and offers staff access to today's earnings automatically in 30 mins or less. Furthermore, automated fund transfers at the end of a shift reduce the risk involved for businesses who don't want to keep money in a safe to facilitate same-day tip outs to staff.
Overall, the Employee Retention Tax Credit is a valuable tax credit that helps employers lower their employment taxes and provide relief to their employees. Grazzy is taking it a step further by offering digital tipping, same-day pay, and better, more inclusive banking capabilities for hourly employees. This helps them make more money, access it the same day, and save and spend in better ways.
0. “Employers should be wary of ERC claims that are too good to be true” www.cdbradshaw.com, 24 Jan. 2023, https://www.cdbradshaw.com/employers-should-be-wary-of-erc-claims-that-are-too-good-to-be-true/
1. “Employee Retention Credit allows home care employers to claim $21K” www.mcknightshomecare.com, 24 Jan. 2023, https://www.mcknightshomecare.com/employee-retention-credit-allows-home-care-employers-to-claim-21k/
2. “Grazzy Raises $4.25MM to Power Hospitality's Future of Digital Tips …” seedround.info, 24 Jan. 2023, https://seedround.info/grazzy-raises-4-25mm-to-power-hospitalitys-future-of-digital-tips-same-day-pay-and-financial-wellness-for-hourly-workers/
3. “Grazzy Raises $4.25MM to Power Hospitality's Future of Digital Tips …” whatsuppub.com, 24 Jan. 2023, https://whatsuppub.com/news/national/article_11dcbc09-b49e-5d03-a439-98d970123a13.html
4. “Community Bank System, Inc. Reports Fourth Quarter And Full Year …” www.businesswire.com, 24 Jan. 2023, https://www.businesswire.com/news/home/20230124005349/en/Community-Bank-System-Inc.-Reports-Fourth-Quarter-And-Full-Year-2022-Results