Optimizing Employee Retention Tax Credits & maximizing tax credit refundable claims! Financial Relief For The Employers
50% of Annual wages upto $10K per employee.
70% of Quarterly wages upto $10K per employee.
Employee retention tax credit is available till Q3, 2021 only.
Upto $50,000 each for Q3, 2021 & Q4, 2021.
To support the businesses during these tough times of COVID19 pandemic, the Government in the United States brought a breather for the businesses known as “Employee Retention Tax Credit”.
Employee Retention Credit is a refundable tax credit against employment taxes equal to 50% of the qualified wages an eligible employer pays to employees after March 12, 2020 but before January 1, 2021 and 70% of the qualified wages an eligible employer pays to employees after December 31, 2020 but before January 1, 2022.
Working on eligibility checkups, industry checkups and business impact analysis. We determine the eligibility for claiming employee retention tax credits and choose the best course of action to maximize the credits under gross receipts test and shutdown orders.
We prepare ERC tax credits considering various complex parameters like constructive ownerships, payroll costs on PPP loan forgiveness etc., which are critical to compute accurate tax credits.
Handling ERC audits & notices by the IRS, tracking ERC refunds post tax credit claim submissions.
The business was under full or partial suspension of the operation of their trade or business during any calendar quarter because of governmental orders.
Experienced significant decline in gross receipts of atleast 50% in 2020 or 20% in 2021 on quarterly basis in comparison to 2019 quarters.
Upto $50,000 in ERC credits for each Q3 2021 & Q4 2021 to leverage the startup businesses who began operations on or after 02/15/2020.
A severely financially distressed employer is a business who has experienced a more than 90% decline in current quarter gross receipts compared to the same quarter in 2019.
Get started today with our professional taxation preparation services which have no long-term contracts and are set up to be customized to your needs. Give us a call or fill out our simple contact form.