Is Your Business Saving Money This Tax Season?
If you have employees on payroll this year, you may be missing out on a LOT of money. We’re here to help. Learn more about the Employee Retention Tax Credit (ERTC) and see if you qualify for massive savings before tax season.
FAQs
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WHAT'S AN ERTC?
Under Section 2301 of the Cares Act passed into law by Congress, Employee Retention Tax Credit (ERTC) provisions allow for a 50% credit up to the first $10,000 of wages PER EMPLOYEE in 2020. More recently, the ERTC was modified and increased from 50% to 70% of eligible wages for up to $14,000 for first and second quarters of 2021.
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People call the Employee Retention Tax Credit different names: the Employee Retention Credit, the Cares Act Employee Retention Credit and the Employer Retention Credit, but here we'll just refer to it as the ERTC.
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HOW DOES IT SAVE YOU MONEY?
Previously many businesses couldn't claim the ERTC unless they received PPP funds. This changed December 27th, 2020 with amended rules. Now, you can go back and amend your quarterly payroll tax returns to claim a refund. That could mean up to $7,000 per employee in savings for your business and bottom line!
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You will now be able to take up to 50% of the first $10,000 of wages paid in 2020 for each employee. Even better, the credit increases to 70% of the first $10,000 in the first and second quarter of 2021 - up to $5,000 for each employee in 2020 and $7,000 in 2021.
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WHY WORK WITH US?
Most accountants and CPAs are overwhelmed with the flood of changes occurring every day. It’s hard to stay updated with credit calculations, especially with the pressure of upcoming deadlines and regulations. We help you and your existing accountant take advantage of this credit and refund without any distractions or headaches.
Why? ERTC is our primary focus. Find out if you’re eligible above to get started.
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Extremely helpful & so easy to work with! Found Ted by watching some of his YouTube videos on Employee Retention Credit, when I couldn't find any other helpful resources. Sent him an inquiry for help, and he responded almost immediately, jumped right on my case, and was able to help me sort through it within hours. Have never gotten such professional, helpful support so quickly. We are Denver-based, and it was incredibly easy to collaborate/work remotely with Ted in Chicago. Based off this experience, I will definitely be working with him in the future and would 100% recommend him to any friend!
It was great working with ops accounting to figure out the ERC qualified wages. Totally recommended and very knowledgeable
Guys, Ted is the best. Period. I started a small private chef business and was so confused about what I needed to do in terms of taxes and some other business questions and Ted was able to seamlessly guide me through the entire process.