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![ERC Phone](https://static.wixstatic.com/media/21bd46_121b92dfc2db4f3a8b923a3977c99e15~mv2.jpg/v1/fill/w_147,h_38,al_c,q_80,usm_0.66_1.00_0.01,blur_2,enc_auto/21bd46_121b92dfc2db4f3a8b923a3977c99e15~mv2.jpg)
EMPLOYEE RETENTION CREDIT
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:
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Fully or partially shut down due to COVID-19
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Have quarterly gross receipts that dropped more than 20% compared with the same quarter of 2019, or
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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:
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The ERC is equal to 70% of qualified wages up to $10,000 per quarter per employee, and
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Your credit could be as high as $28,000 per employee for 2021
Calculating the ERC is complicated, so please contact us for assistance
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