The ERTC was established by the Coronavirus Aid, Relief, and Economic Security (CARES) Act, and provides a credit equal to 50 percent of qualified wages and health plan expenses paid after March 12, 2020 and before Jan. 1, 2021.
A per-employee $10,000 maximum of qualified 2021 wages (Q1, Q2, Q3).
That is a potential of up to $21,000 per employee!
Even if you previously participated and collected funding under the PPP program, you probably now also qualify to receive additional funding under the ERTC program. If you didn’t participate in the PPP Program, then you probably have an even bigger check with your name on it.
The ERTC program has been expanded to help more business owners retain their employees, and it pays you money for the W-2 employees that you had employed and retained during the years 2020- 2021. The qualification for each year is slightly different but depending upon what you paid out to W-2 employees in wages for both years, you could qualify to get back as much as $26,000 PER EMPLOYEE. NO that is not a TYPO.
You could possibly receive as much as 70% of the wages you paid out, up to $10K PER EMPLOYEE PER QUARTERS 1, 2 & 3 in 2021! In most cases, we are talking about a nice big check coming to you as the business owner, so you should definitely follow through with this to see what your business can qualify or. Most businesses were affected in one way or another by the negative effects Covid had on the economy, but the good news is that the government has made it much easier now to qualify for this ERTC funding and because of recent changes, now more businesses can qualify.
The best thing about these FUNDS is that they never have to be paid back. What business wouldn’t benefit from this program?
