Employee Retention Tax Credit
As an Employer, you may qualify for up to $26,000 per Employee
Employee Retention Tax Credit
As an Employer, you may qualify for up to $26,000 per Employee
As an Employer, you may qualify for up to $26,000 per Employee
As an Employer, you may qualify for up to $26,000 per Employee
The Employee Retention Tax Credit is a recovery credit for businesses who had W-2 employees during the Covid Pandemic
The CARES Act is the same legislative act that created 2 economic recovery programs for businesses: 1) the Paycheck Protection Program (PPP) and 2) The Employee Retention Tax Credit (“ERC”). Initially, businesses could only apply for one. In 2020 the legislation changed and now in addition to PPP, your business may qualify for a stimulus check of up to $26,000 per employee by claiming employee retention tax credits.
Did you have a reduction in Gross revenue in 2020 and 2021 compared to the same periods in 2019?
Did you incur additional expenses to the business to deal with the Pandemic?
Did you have to adopt new means of doing business? Give up trade shows? Go Virtual?
Running a holiday sale or weekly special? Definitely promote it here to get customers excited about getting a sweet deal.
What did you change? What do you do now that is different to pre-covid? What have you stopped doing?
How were your office operations impacted? Were Warehouse and Distribution operations impacted? Were Customer Facing operations impacted?
An employer who had W-2 employees during the pandemic could receive up to $26,000 for every qualified employee. That could add up to a sizeable cash tax credit!
Number of employees = Potential Tax Credit
1 employee = $26,000
2 employees = $52,000
3 employees = $78,000
4 employees = $104,000
5 employees = $130,000
10 employees = $260,000
20 employees = $520,000
30 employees = $780,000
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