Businesses with payroll can receive up to $26,000 in tax credits per employee.
The Employee Retention Credit is a program that provides funding for eligible businesses that were impacted by the pandemic in the form of tax credits and not as a loan. For 2020, the maximum a business can receive is $5,000 per employee. For 2021, the maximum a business can receive is $7,000 per employee, per quarter for the first three quarters of 2021. In total, this adds up to a maximum of $26,000 per employee.
Even if a business was provided funding through the PPP or other grants, they may still be eligible for funding under this program.
Our services involve a comprehensive analysis of the relevant tax and financial records to determine eligibility for the program. We will then prepare the appropriate documentation to obtain the funds. This includes coordinating with PPP loans and other COVID-19 relief obtained to maximize your benefits under this program.
The time to determine eligibility and file for these credits is limited. Find out if you qualify today!