Employee retention credit
Taxsound too good to be true?
What is the Employee Retention Credit? What does it have to do with me? How much can I get?
The Employee Retention Credit is a payroll tax REFUND / 50% of qualified wages Eligible Employers pay their employees.
2020: maximum refund $5000 per employee
2021: maximum refund $7000 per employee per quarter
There are two qualifying factors in determining the eligibility of the ERTC.
- Fully or partially suspended operation during any calendar quarter due to orders from an appropriate governmental authority limiting commerce, travel, or group meetings (for commercial, social, religious, or other purposes) due to COVID-19; or
- Reduced gross revenue during the calendar quarter as compared to 2019. There are additional rules and factors regarding the gross receipts which can be found at irs.gov
The qualification consult takes 15-20 minutes discussing your business, financials, payroll and covid habits to see if you qualify. Not all employers will qualify for this Tax Credit / Refund. Once qualification is determined, we take care of the rest.
Many companies charge 15-20% of the refund or indiscriminately qualify non-eligible Employers. You will not find that here. We are confident in our qualification process. I have also established reasonable flat fees for this service.