TAX AND CONSULTING INC.
The Employee Retention tax Credit (E & M) is the largest government stimulus program in history. Find out if your business is eligible to receive a grant of up to $26,000 per employee!
The Employee Retention Credit (ERC) was authorized under the CARES Act and encourages businesses to keep employees on the payroll.
The 2020 ERC Program is a refundable tax credit of 50% of up to $10,000 in wages paid per employee from 3/12/20-12/31/20 by an eligible employer. THAT’S UP TO $5,000 PER EMPLOYEE!
The 2021 ERC Program has increased to 70% of up to $10,000 in wages paid per employee per quarter for the first 3 quarters of 2021. THAT’S UP TO $21,000 PER EMPLOYEE!
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Our deliverable is ready-to-file with the IRS without involving your payroll company.
I recently had the pleasure of working with ERC Today to successfully file for tax credits for our business, a company of over a dozen employees. My management team and I were incredibly pleased by how quick of a turnaround they were able to get with the IRS, something we didn’t expect at all. Thank you.
ERC did an outstanding job handling our Employee Retention Credit. Our bank had partnered with another company, who turned us away since we are in their words, too small of a business to bother with. I found ERC and am so glad I did. The process was easy and they had no problem answering my many questions.
If you're looking for help filing for the Employee Retention Credit, I highly recommend ERC Today. Their attention to detail, quick responses, and helpful advice will make your experience stress free and successful - just like ours!
Austin and his team did an outstanding job with securing funds for our Employee Retention Credit. We appreciate all his hard and efficient work. I would highly recommend his services.
I didn't think I qualified and they showed me how I did. They helped me with all the paperwork and I already have my money.
The CARES Act’s Employee Retention Credit is a fully refundable tax credit. For the 2020 program, the ERC is equal to 50% of qualified wages (including allocable qualified health plan expenses) that eligible employers pay their employees. This applies to wages paid after 3/12/2020 and before 1/1/2021. The maximum amount of wages taken into account with respect to each employee for all calendar quarters is $10,000, so that the maximum credit for an employee is $5,000.
For the 2021 program, the credit is increased to 70%, and the limit is $10,000 per quarter. This means the annual maximum for an employee is $26,000.
The tax credit offsets all withheld federal employment taxes including federal income tax withholding, Employer FICA and Medicare. Any excess credit will be refunded or advanced by the IRS.
Eligible Employers for the purposes of the Employee Retention Credit are those that carry on a trade or business during calendar years 2020/2021, including a tax-exempt organization, that either :
The only types of businesses that are not eligible to claim the CARES Act and employee retention credit are federal, state, and local government entities. Self-employed individuals are also ineligible for support, but there are nuance requirements that may allow you to claim.
Tribal governments may be eligible. As you navigate through the application process, you’ll learn quickly what you’re eligible for, and how we can assist you.
If you’re still unsure of whether or not you and your business qualify, start gathering your documents. Applying to determine if you qualify is the only way to know for sure. Even if you’re not eligible under the ERC and CARES Act, you might be eligible for another program.
Employee retention program tax credits (ERTC) are an incredibly valuable benefit for employers. By taking advantage of this program, businesses can receive a tax credit in recognition of the time and effort they’ve devoted to developing their employees and providing them with resources to help them succeed. This employee tax retention credit program provides incentives to employers who have taken steps to invest in their workforce, helping them to retain long-term, committed employees who will be more productive and successful in their roles.
Stephen attended UNC-Chapel Hill where he obtained his B.S. in Business Administration. He received his Masters in Accountancy from UNC Charlotte. He is the founder of 1095EZ Online, and CEO of ERC Today. Stephen also serves as Chairman of the Huntersville Town Planning Board. He is a guru in process engineering and efficiency.
Andrea received her B.S. in Business and MBA with an emphasis in Accounting from Winthrop University. She serves as the company’s Chief Financial Officer. She is also Chair of the Stewardship Committee at First Baptist Church of Huntersville, Treasurer for the Huntersville Chamber, and Treasurer-Elect for her daughter’s school’s PTA.
John is a visionary connector and graduated from Chowan University. As Chief Revenue Officer, John oversees the company’s sales, partnerships, and strategies surrounding business development. John spent most of his career at ADP. Aside from traveling the world with ADP, he generated millions in revenue and also developed several strategic partnerships.
