The Employee Retention Credit was first launched in the early days of the COVID-19 pandemic as part of the CARES Act relief package. It was intended as an extra incentive for smaller businesses to retain their employees. The credit is up to $26000 per employee.
Business has been fully or partially suspended due to orders from an appropriate governmental authority limiting commerce, travel or group meeting due to COVID-19 or the business has experienced a significate decline in gross receipts or the business qualifies as a recovery startup business. A recovery startup business (RSB) is defined as an employer who began carrying on a trade or business after February 15, 2020, with annual gross receipts of up to $1 million, and otherwise would not qualify for the ERC.
We specializes in tax credits like the employee retention credit. As part of every engagement, we analyze your eligibility for both 2020 and 2021. We optimize your claim and help you remain compliant by preventing double-dipping with other tax credit programs. With every calculation, we include a formal tax opinion that documents your eligibility and qualified wages.
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