You may be eligible for tax credits, even if you received a PPP loan, or didn’t qualify under the original rules. Watch this short video or take a 60-second quiz to find out.
The Employee Retention Tax Credit program has ended, but it’s not too late to file for your credits. Even if you’ve already filed, ERTC specialists can help you to amend your claim to include any eligible tax credits.
With many employers filing their taxes for 2021, this new video aims to help you determine how much you can claim in tax credits, and answer some questions about the ERTC program. The program was originally slated to end in 2020, but the American Rescue Plan extended it through September 2021.
Visit https://www.globenewswire.com/news-release/2021/12/30/2359046/0/en/Small-Business-Employee-Retention-Credit-2021-ERTC-Eligibility-Report-Launched.html to read a report about changes to the eligibility requirements.
In this new video, Scott Hall partners with ERTC Today to let you know that you may qualify for tax credits even if you have already enrolled in the Paycheck Protection Program. Previously, businesses could only enroll in one program, but when the Consolidated Appropriations Act was passed, it amended the rules to allow you access to both.
Because of the large number of changes made to the program since it was originally begun, many employers have misconceptions about the eligibility requirements and the tax credits available to be claimed. The total amount available per employee has increased, as well as the rules defining small vs large employers.
For 2020, you can claim 50% of your employee’s wages, up to $5,000 per employee, per quarter. With the increases introduced in the new amendments, you can now claim up to 70% of eligible wages, to a maximum of $7,000 per employee, per quarter, for wages paid in 2021.
Changes to the rules defining what it means to be a small employer, for the purposes of the ERTC, allow companies with more employees to qualify. To be eligible as a small employer for 2020, you must employ 100 or fewer full-time employees on average. For 2021, that number has increased to allow up to 500 or fewer full-time employees.
In the video, you can find more information about determining your eligibility, and how to get in touch with ERTC specialists who can help you file your paperwork. Unlike the PPP, ERTC is not a loan program, and tax credits do not have to be repaid. To take a short quiz that will help to determine if your business is eligible, please visit https://ertcquiz.com
A company spokesperson said: “The CARES Act has become the second-largest source of financial help to small businesses during the pandemic. More businesses can use this act today. This report explains everything you need to know about the ERTC if you are a small business owner.”
You definitely don’t want to miss out on this program, and it costs nothing to find out if you’re eligible. Just answer a few non-proprietary questions in the quiz, or watch the brief video to find out more – with absolutely no obligation.
Visit https://vimeo.com/667464464 to watch the full video for more information.