Do You Qualify for the Employee Retention Credit?

Take the Quick Test and Find Out

The expanded Employee Retention Credit (ERC) provides welcome relief for businesses and organizations hardest-hit by the global pandemic. Optimizing the credit so that it has the best possible impact can be complex – especially if you have FFCRA or other wage-based credits.

Here’s what you need to know.

ERC qualifications

You may qualify for the ERC if:

  • Operations were fully or partially suspended by a government order, or
  • Gross receipts were less than 50% compared to the same quarter in 2019, or
  • You experienced decline in gross receipts of 20% or more during the first two quarters of 2020 compared to the same two quarters in 2019

NOTE: Obtaining a PPP loan does NOT disqualify you from the ERC. And, credits for 2020 can be obtained retroactively – it’s not too late!

How much is the credit?

For 2020, the credit is capped at $5,000 per employee.

For 2021, the cap increases to up to $14,000 per employee ($7,000 per quarter for the first two quarters). (Learn more.)

Do you qualify?

Find out if you qualify, and what the ERC may be worth to your business or organization: take the ERC Quick Test and a member of our COVID-19 Advisory Team will contact you with next steps.

Timing is everything – true-up calculations are due just days after the quarter’s last payroll. Working with a qualified tax professional can give you the peace of mind you need to focus on the future. Take the Quick Test now.

TAKE THE QUICK TEST

Barnes Dennig COVID-19 Advisory Team

What Our Clients Say

“I love communication: Matt exceeded all my expectations in this process. The PPP loan process he used was seamless, easy, and efficient.”

– Bernard M., Barnes Dennig Client

“Always quick on email response but also reached out in the midst of COVID to see how our business was doing and provided details on the PPP loan.”

– Barnes Dennig Client, 2020

“It was challenging to decipher all the government benefits in relation to COVID-19. Our Barnes Dennig representatives took time to meet with us on several occasions to explain the options and provide their deep analysis, so we could make the best decisions for our organization.”

– Jen A., Business Operations Director