FREE Video revealing Everything you need to know...
About The Employee Retention Tax Credits
And how your business can benefit from it
Employee Retention Tax Credits
- First introduced in CARES Act on March 25, 2020
- 2020: 50% wages, max of $5,000 per employee
- 2021: 70% wages, max $21,000 per employee ($7,000 per employee for the first 3 quarters in 2021)
- Fully refundable tax credit against employer portion of social security.
- Paid to you directly via check
- Available to profit and non-profit organizations
Employee Retention Tax Credits Misconceptions
False beliefs about ERC payments:
- ERC is a credit your CPA claims on your annual tax return and our work on this credit/refund check will not interfere with your CPA’s traditional tax work.
- ERC is a loan and needs to be repaid or “forgiven” like a PPP
- ERC impacts your PPP forgiveness or eligibility for PPP-2
- ERC requires a revenue reduction
Want To lean more about ERC?
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