ERC is a stimulus program designed to help those businesses that were able to retain their employees during the Covid-19 pandemic.
You can claim up to $5,000 per employee for 2020. For 2021, the credit can be up to $7,000 per employee per quarter.
Established by the CARES Act, it is a refundable tax credit – a grant, not a loan – that you can claim for your business. The ERC is available to both small and mid-sized businesses. It is based on qualified wages and healthcare paid to employees.
How do you know if your business is eligible?
To qualify, your business must have been negatively impacted in either of the following ways:
Our services include:
Dedicated specialists that will interpret highly complex program rules and will be available to answer your questions, including:
Funderial assists clients with various forms of financial relief, particularly, the Employee Retention Credit Program.
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Your business qualifies for the ERC, if it falls under one of the following:
Yes. To qualify, your business must meet either one of the following criteria:
Many items are considered as changes in business operations, including shifts in job roles and the purchase of extra protective equipment.