The recent American Rescue Plan Act extended and enhanced the Employee Retention Credit (ERC), originally introduced in 2020. For 2021, the ERC generally applies to companies that:

​

• Fully or partially shut down due to COVID-19

• Have quarterly gross receipts that dropped more than 20% compared with the same quarter of 2019, or 

• Qualify as a "recovery startup business" that began operating after February 15, 2020, and has average annual gross receipts of $1M or less.

 

If your business qualifies:

​

• The ERC is equal to 70% of qualified wages up to $10,000 per quarter per employee, and

• Your credit could be as high as $28,000 per employee for 2021

 

Calculating the ERC is complicated, so please contact us for assistance

​

​

​

​

​

​

​