Non Refundable Portion of Employee Retention Credit for Businesses
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Non Refundable Portion of Employee Retention Credit for Businesses

What is the Non Refundable Portion of Employee Retention Credit The non-refundable portion of the Employee Retention Credit corresponds to the Social Security contributions made by your company. It is regarded as non-refundable because it cannot exceed the sum you were required to pay. Your responsibilities are offset by the income tax credit’s non-refundable portion. …

ERC Revenue Reduction: How it Affects Employee Retention Credit
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ERC Revenue Reduction: How it Affects Employee Retention Credit

ERC Revenue Reduction Overview When the US Congress initially proposed ERC, there were many concerns about its eligibility. Companies had to demonstrate that the pandemic had severely harmed them to be qualified to file an ERC claim. One of the primary requirements for ERC eligibility criteria was that firms prove a 50% or greater decrease…

Calculate ERC Gross Receipts Test 2021 and 2020
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Calculate ERC Gross Receipts Test 2021 and 2020

Gross Receipts Impact on ERTC Qualification Many businesses don’t realize there is still time to claim employee retention credit. However, to qualify, employers must fulfill certain conditions. One of the most complex is proving a significant decline in business via gross receipts from 2020 and 2021 against corresponding quarters from 2019.  This can be challenging…

ERTC for Hotels and the Hospitality Industry
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ERTC for Hotels and the Hospitality Industry

ERTC Assistance for the Hospitality Industry The Employee Retention Tax Credit (ERTC) program was a hope of light in the dark months of the global pandemic (2020-2021). With nearly every business industry bearing the unavoidable impact of the countrywide lockdown, many businesses crashed to the core. Unlike a few other industries, the hospitality industry could…

ERTC Health Fitness Centers: Gyms and ERC Group Fitness Facilities Qualify 
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ERTC Health Fitness Centers: Gyms and ERC Group Fitness Facilities Qualify 

Understanding ERTC for Fitness Facilities The Employee Retention Tax Credit (ERTC) program by CARES Act helped many businesses during the global pandemic to ensure survival. Small and medium businesses with less than 500 employees could receive tax credits of up to $5000 (2020) and $21,000 (2021) per employee. Since the worldwide lockdown force-stopped business operations,…

Understanding Employee Retention Credit for Employees 
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Understanding Employee Retention Credit for Employees 

ERC and Employees The employee retention credit for employees is a comprehensive program to reward businesses that kept their employees during the global pandemic period. Since the pandemic led to a global lockdown, thousands of businesses worldwide have suffered. Many companies laid off their employees to ensure survival. The ERTC program gives back to companies…

How to Avoid ERTC Scams, Choose Wisely
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How to Avoid ERTC Scams, Choose Wisely

Legislation passed in response to the COVID-19 pandemic has drawn many suspicious actors eager to get a portion of the tax credit intended for eligible employers and small/medium-sized businesses. It’s essential to be diligent about trending ERTC scams. The newest are so-called ERTC firms that promise owners massive, backdated tax benefits via tax credit for…