employee retention credit
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Did you ever get fully or partially shut down during the pandemic? Have your revenues been down compared to 2019?

Then the Employee Retention Credit may be for you. Learn more by watching the video below or by reviewing our ERC whitepaper:

The recently passed stimulus bill retroactively allows PPP borrowers access to tax benefits, such as the Employee Retention Credit (ERC). Navigating the interaction between PPP and other programs is complex; effective business and tax planning will be crucial. 

While PPP2 has received the most attention of any provision in the recently-passed stimulus bill (the Consolidated Appropriations Act, 2021 or “CAA”) the package also frees up significant amounts of money in tax benefits and expands eligibility for many programs. Reimbursements (in the form of tax credits) are newly available for qualified employee wages for many companies.We encourage clients to contact us now to review eligibility for these programs. The new stimulus bill also significantly changed tax treatment of PPP forgiveness and the program’s interaction with other relief programs. Many PPP borrowers are now eligible for significant tax relief under the CAA and should plan accordingly. 

Eligible employers can get reimbursed for qualified wages:

  • In 2020: Up to $5,000 reimbursement per employee
  • In 2021: Up to $7,000 reimbursement PER QUARTER, PER EMPLOYEE

Let our CPAs handle complex eligibility rules and calculations for you. Contact us today to claim your complimentary eligibility analysis.