FREE MONEY FOR US BUSINESS OWNERS! What exactly is ERTC?

What's employee retention Credit (ERC)?

The Employee Retention Tax Credit (ERTC) is an IRS tax credit designed to help small businesses retain their employees in these tough times. The credit refunds payroll costs already spent.

There is no need to pay back the ERTC which is, in a way, like the stimulus check that everyday taxpayers received. Any business that has less than 500 employees could be eligible. This includes non-profits as well as start-ups.

What do I need to know to determine if I have the right qualifications?

In order to qualify for the ERTC your company must have been affected in one of two ways.

A decrease in gross receipts during a declared quarter. In any quarter declared by 2020, an drop by 50% or greater must be proven to be eligible for the credit; however the credit can be capped at $5,000 per year. In 2021, the credit was expanded for businesses who have experienced only 20% decrease in revenue. Each quarter from 2021, companies can qualify for up to $700 in credits per employee.

Or or a "Complete or Partial" Closure of your company. In all over America, across the United States, local government restrictions and mandates were put in the law, such as social distancing, being forced to work from home, or even closing your business completely.

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