Employee Retention Credit – Do You Qualify?

1. Did you pay W2 wages to employees and/or yourself? If yes, continue. If no, you don’t qualify for the ERC.

If you answered yes to #1 AND answer yes to any of those questions below, call us.

2. Did you experience a partial or full government mandated shutdown of your business during 2020 and 2021?

3. Did you have a decline in gross receipts of at least 50% in Q2, Q3, Q4 of 2020 as compared to the same quarter in 2019?

4. Did you have a decline in gross receipts of at least 20% in Q1, Q2, Q3, Q4 of 2021 as compared to the same quarter in 2019?

If you answered yes to #1 and yes to any of the other questions, please let us know so we can see if you have money coming back from the IRS. Previously you were not entitled to have both the PPP loan and be eligible for this credit. Not only did that change, but the credit amount became substantial (Cap of $5,000 per employee in 2020 and Cap of $7,000 per employee per quarter in 2021.)