CARES Act Employee Retention Credit
Uncle Sam will pay 50-70% of wages up to $26,000 PER RETAINED EMPLOYEE…beyond PPP.
Watch our Fox4 ERTC Interview!
Recent Fox4 interview re CARES Act Employee Retention Tax Credits and other benefits available to small businesses during the pandemic. We’ve helped recover Millions of Dollars for countless qualifying employers already; let us do the same for you.
What is the ERC?
Refundable, payroll tax credit to incentivize the retention of employees during the time when a restaurant was impacted by government ordered shutdowns due to the coronavirus.
What is the ERC?
Refundable, payroll tax credit to incentivize the retention of employees during the time when a restaurant was impacted by government ordered shutdowns due to the coronavirus.
Who is Eligible?
Those whose operations are fully or partially suspended due to the coronavirus. Note: Virtually 100% of all restaurants meet these criteria. Those whose gross receipts have been impacted >50% in 2020 or >20% in 2021
What is the ERC Worth?
Earn up to:
$5,000/employee for 2020
$14,000/employee for 2021
70 Full-Time Employees w/a PPP Loan of $496,500:
Up to $350,000 ERC Refund
Up to $1,500,000 in additional tax credit
What is the ERC Worth?
Earn up to:
$5,000/employee for 2020
$14,000/employee for 2021
70 Full-Time Employees w/a PPP Loan of $496,500:
Up to $350,000 ERC Refund
Up to $1,500,000 in additional tax credit
But What about my PPP Loan?
A PPP loan is no longer prohibited from claiming the ERC. However, an ERC may not be claimed for wages paid with the proceeds of a PPP loan that has been forgiven (no double-dipping). This change is retroactive for wages paid after March 12, 2020.
The Challenge
The process is complex:
Forms and rules are dynamic
Payroll providers cannot qualify employees and are unsure of the process
Wages CAN NOT conflict with PPP forgiveness
Subject to IRS audit, which could add costs to defend
The Challenge
The process is complex:
Forms and rules are dynamic
Payroll providers cannot qualify employees and are unsure of the process
Wages CAN NOT conflict with PPP forgiveness
Subject to IRS audit, which could add costs to defend
Our Solution
Our expert team of tax professionals will:
Determine eligibility
Crunch the payroll data
Correspond wth tax agencies and payroll providers
File all necessary forms
Provide audit defense if needed
Client Examples
