TAKE ADVANTAGE OF 2020 & 2021 TAX CREDIT
Find out whether your business is eligible for the Employee Retention Tax Credit. Contact us and we’ll assist you in getting the incentive for your business!
The 2020 Tax Year
How Much Can My Business Claim?
The total credit available for 2020 is 50% of qualifying wages paid to qualifying employees during the year after March 12, 2020. The maximum credit amount is $5,000 per employee for the year.
Your business may be eligible for the ERC if it experienced a significant decline in gross receipts during the quarter or experienced a full or partial suspension of operations due to government order.
Under the first option, the decline in gross receipts must have been over 50% when compared to the same quarter in 2019. Under the second option, your operations must have been restricted so that your business was unable to operate at normal capacity.
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