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Claim your Employee Retention Credit

Claim your Employee Retention Credit

June 10, 2021

Small businesses should consider their eligibility for Employee Retention Credit (ERC) in 2021, while claiming tax credits for 2020. This is a financial relief resource due to Covid-19, which allows for refundable tax credit to help a business with their cost of keeping their staff employed. ERC is apart of the CARES Act, and your businesses may be able to claim it even if you received a PPP loan. It is active through the end of 2021 and can be claimed retroactively (back to march 2020). Ultimately, the maximum yearly benefit for 2021 is $28,000 per employee.

Below is a flow chart to help you determine your business's eligibility based on the requirements to claim ERC. These include a full or partial closure due to a government order (meaning if your business was considered non-essential) and a decline in gross receipts. If you qualify or have other questions, give us a call at (850) 934-4288 to schedule an appointment.