Capture Your Employee Retention Tax Credits Before Tax Laws Change!

Connect w/ me directly ASAP to learn more... ~Mike

What is the Employee Retention Credit?

The CARES Act of 2020 created the Employee Retention Credit (ERC) at the same time it enacted the Paycheck Protection Program (PPP). This lesser-known incentive has proven to be a significant opportunity for businesses of all sizes. The ERC allows businesses to recover costs associated with keeping employees on payroll during hardships related to COVID-19.

ERC Credit Amount

The ERC allows qualified employers to recover wages and health plan expenses incurred during COVID-19.

• For 2020 periods, businesses can recover 50% of qualified costs, up to $5,000 per employee
• For 2021 periods, businesses can recover 70% of qualified costs, up to $7,000 per employee, per quarter

Employers are eligible to claim up to: $26,000 per employee

Key Insights

• Businesses who took PPP can also claim the ERC for both 2020 and 2021
• A partial suspension can be related to specific departments, service offerings, programs, etc.
• Additional rules apply for businesses with over 100 (2020) or 500 (2021) full-time employees
• Some affiliated organizations are required to aggregate for gross receipt and full-time employee determinations
• Tax-exempt organizations can be eligible for the ERC

We will also comprehensively review for any other Federal, State, Local business, employee wage and job incentives, credits and cash grants that may apply including innovative strategies like cost segregation to maximize current 100% bonus depreciation on real estate, R&D tax credits, 179D and 45L energy tax credits, Solar and other renewable energy opportunities to maximize.

Connect to explore strategies:

Michael F. D'Onofrio, Managing Director

(ETS) Engineered Tax Services

[email protected]