Are you aware there is an additional cash flow resource available to many businesses relating to the pandemic? This resource is called the Employee Retention Credit (ERC) and if you are a qualifying business that meets the requirements of the ERC, the credit can be rather large. The concept of the ERC is rather simple but the calculations could be complex. The ERC is a refund of employer payroll taxes paid in qualifying quarters based on the following criteria:
• Were your gross receipts cut in half during any 2020 quarter?
• Were your business operations at least partially disrupted during 2020 or 2021 (and that includes not being able to operate due to suppliers not getting you materials, as well as quarantine time – as long as it was due to a governmental mandate)?
• Were your gross receipts less than 80% in any 2021 quarter when compared to 2019?
• Do you average less than 500 employees?
• Did you start your business after February of 2020?
The ERC is a pure cash return of payroll taxes paid. To learn more about the details of the ERC, how to calculate the determination of qualification and the quarters that would apply to your business, join Mark Heath, Partner and Director of Tax Services as he discusses the details of the ERC. Mr. Heath leads the firms ERC practice in which the firm has helped numerous businesses apply for and receive the ERC.
Thursday, June 2 at 2 PM EST
This free, one-hour webinar will take place on Thursday, June 2 at 2:00 p.m. EDT. One “Tax” CPE credit is available for this webinar. The level for this webinar is overview and there are no prerequisites for attending. This program is a live webinar which offers the opportunity to ask questions and interact with the presenters.
We look forward to you joining us for this webinar! Remember to visit our events page which contains details on all upcoming and past events.