Fountainhead PPP Submitted To Verifier – Do you qualify? Employee Retention Credit Up To $26,000 Per Employee

Claim up to $26,000 per Employee for the Employee Retention Tax Credit Retroactively until 2024. Fountainhead PPP Submitted To Verifier. Do you qualify for 50% refundable tax credit? ERC program under the CARES Act encourages businesses to keep employees on their payroll.

About The ERC Program
What is the Employee Retention Credit (ERC)? Fountainhead PPP Submitted To Verifier

ERC is a stimulus program developed to help those businesses that had the ability to maintain their workers throughout the Covid-19 pandemic.

 

 

Established by the CARES Act, it is a refundable tax credit– a give, not a loan– that you can claim for your business. Fountainhead PPP submitted to verifier. The ERC is available to both little and mid sized companies. It is based upon qualified incomes as well as health care paid to workers

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Up to $26,000 per  staff member
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Available for 2020  as well as the  initial 3 quarters of 2021
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Qualify with  reduced  profits or COVID event
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No  restriction on  financing
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ERC is a refundable tax credit.

How much money can you get back? Fountainhead PPP Submitted To Verifier

You can claim up to $5,000 per worker for 2020. For 2021, the credit can be approximately $7,000 per employee per quarter.

 Just how do you  understand if your business is  qualified?
To Qualify, your business must have been  adversely impacted in either of the following ways:
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A government authority required partial or  complete shutdown of your business during 2020 or 2021. Fountainhead PPP submitted to verifier.  This includes your procedures being limited by business, failure to take a trip or limitations of group meetings
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Gross  invoice  decrease  standards is different for 2020  as well as 2021,  however is  gauged  versus the current quarter as  contrasted to 2019 pre-COVID amounts
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A business can be eligible for one quarter  as well as not another
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 At first, under the CARES Act of 2020,  organizations were  unable to  get the ERC if they  had actually already  gotten a Paycheck Protection Program (PPP) loan.  Fountainhead PPP submitted to verifier.  With new legislation in 2021, companies are now qualified for both programs. The ERC, though, can not put on the same salaries as the ones for PPP.

Why Us?
The ERC  went through several  adjustments  and also has  several  technological  information, including  exactly how to  establish  professional  earnings, which  workers are  qualified, and  a lot more. Fountainhead PPP submitted to verifier.  Your business’ details instance could require more intensive testimonial and also analysis. The program is complex and could leave you with numerous unanswered questions.

 

 

We can  assist  understand it all. Fountainhead PPP submitted to verifier.  Our dedicated professionals will lead you and also lay out the actions you require to take so you can optimize the claim for your business.

GET QUALIFIED.

Our  solutions include:
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 Complete  examination  concerning your eligibility
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 Extensive analysis of your  insurance claim
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Guidance on the  asserting process  as well as  documents
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 Certain program  proficiency that a  normal CPA or  pay-roll processor might not be  fluent in
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 Quick and smooth end-to-end process, from eligibility to  declaring  and also  obtaining  reimbursements.

 Committed  professionals that will  analyze  extremely  complicated program  regulations  and also will be  offered to  address your questions, including:

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 Exactly how does the PPP loan factor  right into the ERC?
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What are the  distinctions  in between the 2020 and 2021 programs and  just how does it apply to your business?
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What are aggregation  regulations for  bigger, multi-state employers, and  exactly how do I interpret  several states’  exec orders?
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Just how do part time, Union, as well as tipped workers affect the quantity of my reimbursements?

Ready To Get Started? It’s Simple.

1. We  figure out whether your business  gets approved for the ERC.
2. We  evaluate your claim  as well as  calculate the maximum amount you can receive.
3. Our  group  overviews you  via the claiming  procedure, from  starting to end,  consisting of  appropriate  documents.

DO YOU QUALIFY?
Answer a few  basic questions.

 ROUTINE A CALL.
Frequently Asked Questions (FAQs).

What period does the program cover?
The program started on March 13th, 2020 and ends on September 30, 2021, for qualified companies. Fountainhead PPP submitted to verifier.
You can apply for  reimbursements for 2020  and also 2021 after December 31st of this year, into 2022  and also 2023.  And also potentially  past then  as well.

We have clients who obtained refunds just, and also others that, in addition to refunds, additionally qualified to proceed getting ERC in every pay roll they refine with December 31, 2021, at concerning 30% of their payroll expense.

We have clients that have actually obtained refunds from $100,000 to $6 million. Fountainhead PPP submitted to verifier.
Do we still Qualify if we already took the PPP?
Do we still Qualify if we did not  sustain a 20%  decrease in gross  invoices?
Do we still Qualify if we remained open during the pandemic?

The federal government established the Employee Retention Credit (ERC) to  supply a refundable  work tax credit to  assist businesses with the  expense of keeping staff  utilized.

Qualified companies that experienced a decline in gross receipts or were shut as a result of federal government order as well as really did not claim the credit when they filed their original return can take advantage by filing modified employment income tax return. For example, businesses that submit quarterly work income tax return can submit Form 941 X, Adjusted Employer’s Quarterly Federal Tax Return or Claim for RefundPDF, to claim the credit for prior 2020 and 2021 quarters. Fountainhead PPP submitted to verifier.

With the exception of a recovery start up business, many taxpayers came to be ineligible to claim the ERC for incomes paid after September 30, 2021. Fountainhead PPP submitted to verifier.  A recovery start-up business can still claim the ERC for salaries paid after June 30, 2021, and also before January 1, 2022. Eligible employers might still claim the ERC for previous quarters by submitting an relevant adjusted work income tax return within the due date stated in the equivalent kind directions. Fountainhead PPP submitted to verifier.  For example, if an employer submits a Form 941, the employer still has time to submit an modified return within the moment set forth under the “Is There a Deadline for Filing Form 941-X?” section in Form 941-X, Adjusted Employer’s Quarterly Federal Tax Return or Claim for Refund.

 

What Is The Employee Retention Credit (ERC), And How Does The Program Work?

When the Covid 19 pandemic started, and also services were required to shut down their operations, Congress passed programs to provide monetary assistance to companies. Among these programs was the worker retention credit ( ERC).

The ERC provides eligible employers pay roll tax credits for salaries as well as medical insurance paid to staff members. When the Infrastructure Investment and also Jobs Act was signed right into law in November 2021, it put an end to the ERC program.

Despite  completion of the program, businesses still have the  possibility to  insurance claim ERC for  as much as three years retroactively. Fountainhead PPP submitted to verifier.  Here is an review of just how the program works and just how to claim this credit for your business.

 

What Is The ERC?

 Initially  readily available from March 13, 2020, through December 31, 2020, the ERC is a refundable  pay-roll tax credit created as part of the CARAR 0.0% ES Act. Fountainhead PPP submitted to verifier.  The objective of the ERC was to encourage employers to maintain their workers on payroll throughout the pandemic.

Qualifying  companies and borrowers that  obtained a Paycheck Protection Program loan  might claim  approximately 50% of qualified  incomes, including eligible health insurance  costs. The Consolidated Appropriations Act (CAA) expanded the ERC.  Companies that qualified in 2021 can claim a credit of 70% in qualified  earnings.

 

 That Is Eligible For The ERC?

Whether or not you receive the ERC relies on the time period you’re looking for. To be eligible for 2020, you need to have run a business or tax exempt organization that was partially or totally closed down as a result of Covid-19. Fountainhead PPP submitted to verifier.  You also need to show that you experienced a substantial decline in sales– less than 50% of equivalent gross invoices compared to 2019.

If you’re trying to  get approved for 2021, you  need to  reveal that you experienced a  decrease in gross  invoices by 80%  contrasted to the same  period in 2019. If you weren’t in business in 2019, you can  contrast your gross receipts to 2020.

The CARES Act does restrict freelance people from claiming the ERC for their own salaries. Fountainhead PPP submitted to verifier.  You likewise can’t claim wages for particular people that relate to you, however you can claim the credit for salaries paid to staff members.

 

What Are Qualified Wages?

What counts as qualified  earnings  relies on the  dimension of your business  as well as how many  workers you  carry  personnel. There’s no size limit to be  qualified for the ERC,  yet  tiny  as well as large companies are  discriminated.

For 2020, if you had greater than 100 permanent staff members in 2019, you can only claim the earnings of staff members you kept yet were not working. If you have less than 100 employees, you can claim everyone, whether they were functioning or otherwise.

For 2021, the limit was increased to having 500 full time staff members in 2019, giving companies a great deal much more flexibility as to that they can claim for the credit. Fountainhead PPP submitted to verifier.  Any wages that are subject to FICA taxes Qualify, and you can include qualified health expenses when determining the tax credit.

This income should have been paid in between March 13, 2020, and September 30, 2021. However, recoverystartup services have to claim the credit with completion of 2021.

 

How To Claim The Tax Credit.

 Although the program ended in 2021,  companies still have time to claim the ERC. Fountainhead PPP submitted to verifier.  When you file your federal tax returns, you’ll claim this tax credit by completing Form 941.

Some companies, specifically those that got a Paycheck Protection Program loan in 2020, mistakenly thought they didn’t qualify for the ERC. Fountainhead PPP submitted to verifier.  If you’ve already submitted your income tax return and also now understand you are eligible for the ERC, you can retroactively use by submitting the Adjusted Employer’s Quarterly Federal Tax Return (941-X).

Because the tax regulations around the ERC have actually altered, it can make establishing qualification puzzling for many business proprietors. The process gets also harder if you own multiple businesses.

Fountainhead PPP submitted to verifier.  GovernmentAid, a department of Bottom Line Concepts, helps clients with different kinds of financial relief, particularly, the Employee Retention Credit Program.

 

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    Fountainhead PPP Submitted To Verifier