I bet your business could use an influx of cash. What if you could get up to $33,000 from the IRS for each employee, and all you had to do was have a quick conversation? With a fast call to Abedian + Totlian (818) 243-3455, we will be able to tell you if your business qualifies for the Employee Retention Credit!
The Employee Retention Credit (ERC) allows employers who have been affected by Covid-19 regulations to receive payroll tax credits up to $33,000 for each employee. As part of the CARES Act, this is another great opportunity to infuse your business with cash. Your business could qualify for the ERC, even if you received the PPP Loan!
What is the ERC?
The ERC is a fully refundable tax credit that is available to employers who are able to keep their employees on payroll, and is based on qualifying wages. The incentive, part of the CARES Act, encourages businesses to keep their employees even with a decline in revenue or government ordered shut-down.
Who Qualifies for the ERC?
Employers who:
-Have fully or partially suspended operations due to government mandated Covid-19 shut-downs.
-Experienced a significant decline in revenue as a result of Covid-19.
How Much Can I Get?
Eligible businesses can receive up to $33,000 per employee.
-Up to $5,000 for each full-time employee retained from 10/01/2020 and 12/31/2020.
-Up to $28,000 for each employee retained from 01/01/2021 and 12/31/2021.
Currently there is legislation moving through Congress that could end the ERC months earlier than expected. Don’t miss out on this amazing tax credit, call Abedian + Totlian today to for your complimentary consultation to see of your business qualifies! Give us a call, there is nothing to lose! (818) 243-3455.