Stay up to date with money-saving tax initiatives with advice from “accountants near me“.
Don’t Miss this Opportunity to Maximize your Cash Flow.
I wanted to reach out to see if you’ve considered looking into the Employee Retention Credit.
The IRS created some new tax initiatives to mitigate the impacts of COVID-19, and from a business perspective, ERC is very lucrative for businesses.
During the last two years, we have been able to secure significant credits for many clients.
On top of that, new regulations for ERC went into effect for 2021, making it easier to qualify for and significantly more generous.
Basic Parameters for 2020 and 2021:
- 2020:
Eligibility: Decline in gross receipts of 50%+ in 2020 compared to 2019 or partial/full suspension of operationsBenefit: Up to $5k/employee/year in the form of a cash refund
- 2021:
Eligibility: Decline in gross receipts of 20%+ in 2021 compared to 2019 or partial/full suspension of operationsBenefit: Up to $7k/employee/quarter in the form of a cash refund