I have talked to employers all over the country in various business fields. Some businesses are thriving in the midst of the Covid Era while some are struggling to keep their doors open. All of them looking to see what this Employee Retention Credit is all about.
The Employee Retention Credit is a fully refundable payroll tax credit for employers equal to 50 percent of qualified wages that Eligible Employers pay their employees. The maximum amount of qualified wages taken into account with respect to each employee for all calendar quarters in 2020 is $10,000, so that the maximum credit for an Eligible Employer for qualified wages paid to any employee is $5,000. The Cares Act and ARP Act made adjustments to this credit for 2021 by increasing the credit to 70% and allowing it to restart each quarter.
The Employee Retention Credit (ERC or ERTC) was put in place and revised to ensure small businesses can continue keeping their businesses going and employees working in the midst of an unknown future. There are two qualifying factors in determining the eligibility of the ERTC.
The qualification consult* takes 15-20 minutes discussing your business, financials, and covid habits to see if you qualify. Not all employers will qualify for this credit. Once qualification is determined, we take care of the rest.**
I have heard of many companies charging 15-20% of the credit. You will not find that here. We understand this is a Covid related credit and want to ensure you have available funds to keep your business running. I have established reasonable flat fees for this service.
Call 479-219-3732 to setup a consult today!
*Qualification Consult is non-refundable.
** Minimal payroll documentation will be required.