Proudly serving Stout Street portco's!
What is the Employee Retention Credit?
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Created by Congress to encourage employers to keep their employees on the payroll during the months affected by the coronavirus pandemic
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A fully refundable tax credit for a percentage of the qualified wages you pay your employees
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Available to all employers of any size that paid qualified wages to their employees during the COVID19 shutdown
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Recent change now allows you to claim up to $7,000 per quarter, per employee
Who is eligible?
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Are you a business that had to partially or fully suspend operations due to COVID-19?
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Did your revenue decline by 20% or more in any quarter in 2021 compared to the same quarter in 2020 (or 2020 to 2019)?
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Did you start a new business (or new trade within your business) after February 15th, 2020 and have less than $1M in revenue?
If yes to any of the above, you likely qualify!
Example
Say you have 10 employees. You pay each employee $10,000 in qualified wages during the quarter. Because you can claim $7,000 per employee per quarter, your Employee Retention credit would be $70,000 ($7,000 X 10 employees).
How it works
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Take our preliminary assessment to see if you’re eligible
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TaxTaker will determine and calculate your qualifying wages
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We’ll help you get your money ASAP
See if you qualify in 2 minutes or less.
