About the Employee Retention Credit
The Employee Retention Credit is a pandemic-related form of financial aid for businesses and nonprofits and is not anything that has to be repaid. It essentially is "free money". The ERC is a credit against previously paid payroll taxes and is calculated based upon historical wage and certain health benefit (if any) expenses. The analysis is performed on a per-quarter basis, and it's possible to qualify for the ERC on up to seven calendar quarters and receive up to $26,000 PER EMPLOYEE!
In order to qualify for the credit, an entity must satisfy at least one of two requirements:
1. A significant revenue loss during one or more calendar quarters in 2020 and/or 2021 relative to the comparable quarter in 2019. (The definition of "significant" varies depending upon whether the qualifying quarter is in 2020 or 2021.)
2. Business operations were fully, or partially, suspended as a direct result of government-issued mandates related to the pandemic.
Blewgrass CPA, PLLC is one of the few firms that actually specializes in the Employee Retention Credit! We determine eligibility for FREE and don't get paid unless, and until, YOU get paid!
Contact Us Today to Schedule a Free Consultation.
