Fountainhead PPP Login – Claim Employee Retention Credit | PPP Loan Application

Employee Retention Credit claim up to $26,000 per employee. Fountainhead PPP Login. Even if you have already claimed for PPP Loan Application. How to claim Employee Retention Credit or ERC for your business.

 Regarding The ERC Program
What is the Employee Retention Credit (ERC)? Fountainhead PPP Login

ERC is a stimulus program developed to assist those organizations that were able to preserve their staff members throughout the Covid-19 pandemic.

 

 

Developed by the CARES Act, it is a refundable tax credit– a give, not a loan– that you can claim for your business. Fountainhead PPP login. The ERC is readily available to both tiny as well as mid sized organizations. It is based upon qualified incomes and medical care paid to workers

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 Approximately $26,000 per  staff member
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 Readily available for 2020  and also the first 3 quarters of 2021
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Qualify with decreased revenue or COVID event
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No limit on  financing
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ERC is a refundable tax credit.

Just how much money can you return? Fountainhead PPP Login

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

 Exactly how do you know if your business is  qualified?
To Qualify, your business  should have been negatively impacted in either of the following  means:
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A government authority required partial or  complete  closure of your business  throughout 2020 or 2021. Fountainhead PPP login.  This includes your procedures being limited by commerce, failure to take a trip or restrictions of team conferences
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Gross receipt reduction  standards is  various for 2020  as well as 2021,  however is  gauged against the  present quarter as compared to 2019 pre-COVID  quantities
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A business can be eligible for one quarter and not  one more
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 Under the CARES Act of 2020,  companies were not able to Qualify for the ERC if they  had actually already  gotten a Paycheck Protection Program (PPP) loan.  Fountainhead PPP login.  With new regulation in 2021, employers are currently qualified for both programs. The ERC, however, can not relate to the exact same earnings as the ones for PPP.

Why  United States?
The ERC underwent  numerous  adjustments  as well as has  numerous  technological details, including  just how to  establish  professional  earnings, which employees are eligible,  and also more. Fountainhead PPP login.  Your business’ specific situation may call for even more intensive evaluation as well as analysis. The program is intricate and also might leave you with lots of unanswered questions.

 

 

We can  aid make sense of  everything. Fountainhead PPP login.  Our devoted experts will assist you and describe the actions you require to take so you can maximize the claim for your business.

 OBTAIN QUALIFIED.

Our  solutions include:
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 Detailed  assessment  concerning your  qualification
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 Extensive analysis of your claim
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 Assistance on the  asserting process and  documents
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Specific program expertise that a  routine CPA or  pay-roll  cpu  may not be  skilled in
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 Quick  as well as smooth end-to-end  procedure, from eligibility to claiming  as well as receiving  reimbursements.

Dedicated  experts that  will certainly  translate  very complex program  regulations  and also will be  offered to answer your  inquiries, including:

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 Exactly how does the PPP loan  element into the ERC?
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What are the differences  in between the 2020 and 2021 programs and how does it  relate to your business?
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What are  gathering  regulations for  bigger, multi-state employers,  and also  just how do I interpret  numerous states’  exec orders?
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Exactly how do part time, Union, and tipped employees impact the quantity of my reimbursements?

 All Set To Get Started? It’s Simple.

1. We  establish whether your business qualifies for the ERC.
2. We  assess your  insurance claim  as well as  calculate the maximum  quantity you can receive.
3. Our  group  overviews you  via the  asserting process, from  starting to end, including proper  paperwork.

DO YOU QUALIFY?
Answer a  couple of  easy questions.

 TIMETABLE A CALL.
Frequently Asked Questions (FAQs).

What period does the program cover?
The program began on March 13th, 2020 and ends on September 30, 2021, for qualified employers. Fountainhead PPP login.
You can  make an application for  reimbursements for 2020 and 2021 after December 31st of this year, into 2022  as well as 2023.  As well as  possibly beyond  after that  also.

We have customers that obtained reimbursements just, as well as others that, along with refunds, additionally qualified to continue receiving ERC in every payroll they refine through December 31, 2021, at regarding 30% of their pay-roll price.

We have clients that have actually obtained reimbursements from $100,000 to $6 million. Fountainhead PPP login.
Do we still Qualify if we  currently took the PPP?
Do we still Qualify if we did not incur a 20%  decrease in gross  invoices?
Do we still Qualify if we  continued to be open  throughout the pandemic?

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

Qualified organizations that experienced a decline in gross invoices or were closed because of government order as well as didn’t claim the credit when they submitted their initial return can take advantage by submitting adjusted employment tax returns. Businesses that file quarterly work tax returns can submit Form 941-X, Adjusted Employer’s Quarterly Federal Tax Return or Claim for RefundPDF, to claim the credit for previous 2020 as well as 2021 quarters. Fountainhead PPP login.

With the exception of a recovery start up business, the majority of taxpayers ended up being ineligible to claim the ERC for wages paid after September 30, 2021. Fountainhead PPP login.  A recoverystartup business can still claim the ERC for wages paid after June 30, 2021, and before January 1, 2022. Qualified employers may still claim the ERC for prior quarters by submitting an appropriate adjusted work income tax return within the due date stated in the equivalent kind directions. Fountainhead PPP login.  As an example, if an employer files a Form 941, the company still has time to file an modified return within the time set forth under the “Is There a Deadline for Filing Form 941-X?” area 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 began, and also organizations were required to close down their operations, Congress passed programs to give financial assistance to companies. One of these programs was the worker retention credit ( ERC).

The ERC offers qualified companies payroll tax debts for wages and health insurance paid to workers. When the Infrastructure Investment as well as Jobs Act was signed into regulation in November 2021, it put an end to the ERC program.

 Regardless of the end of the program, businesses still have the  possibility to  insurance claim ERC for  approximately  3 years retroactively. Fountainhead PPP login.  Below is an introduction of just how the program jobs as well as exactly how to claim this credit for your business.

 

What Is The ERC?

Originally  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 login.  The objective of the ERC was to motivate employers to keep their staff members on payroll during the pandemic.

 Certifying  companies  and also  customers that  obtained a Paycheck Protection Program loan  might claim  approximately 50% of qualified  incomes, including  qualified  medical insurance  costs. The Consolidated Appropriations Act (CAA) expanded the ERC. Employers that qualified in 2021 can claim a credit of 70% in qualified  incomes.

 

Who Is Eligible For The ERC?

Whether or not you receive the ERC depends upon the time period you’re obtaining. To be eligible for 2020, you need to have actually run a business or tax exempt organization that was partially or totally closed down due to Covid-19. Fountainhead PPP login.  You also need to show that you experienced a significant decrease in sales– less than 50% of comparable gross invoices compared to 2019.

If you’re trying to qualify for 2021, you  have to  reveal that you experienced a  decrease in gross  invoices by 80% compared to the same time period in 2019. If you weren’t in business in 2019, you can compare your gross  invoices to 2020.

The CARES Act does ban self employed individuals from asserting the ERC for their own earnings. Fountainhead PPP login.  You additionally can’t claim salaries for details people who belong to you, however you can claim the credit for incomes paid to staff members.

 

What Are Qualified Wages?

What counts as qualified  earnings  relies on the size of your business  and also  the number of  staff members you have on  team. There’s no  dimension  limitation to be eligible for the ERC, but small  as well as  big  firms are treated differently.

For 2020, if you had greater than 100 permanent staff members in 2019, you can only claim the salaries of employees you maintained however were not functioning. If you have less than 100 employees, you can claim everybody, whether they were working or not.

For 2021, the limit was increased to having 500 permanent staff members in 2019, offering companies a great deal more flexibility regarding who they can claim for the credit. Fountainhead PPP login.  Any kind of wages that are based on FICA taxes Qualify, and also you can consist of qualified health expenses when computing the tax credit.

This revenue needs to have been paid in between March 13, 2020, and September 30, 2021. recovery start-up services have to claim the credit through the end of 2021.

 

 Just how To Claim The Tax Credit.

Even though the program  finished in 2021,  services still have time to claim the ERC. Fountainhead PPP login.  When you submit your federal tax returns, you’ll claim this tax credit by submitting Form 941.

Some businesses, especially those that obtained a Paycheck Protection Program loan in 2020, erroneously believed they really did not qualify for the ERC. Fountainhead PPP login.  If you’ve already filed your income tax return and also currently understand you are qualified for the ERC, you can retroactively use by filling out the Adjusted Employer’s Quarterly Federal Tax Return (941-X).

Given that the tax laws around the ERC have actually transformed, it can make determining eligibility confusing for lots of business owners. The procedure gets even harder if you have several businesses.

Fountainhead PPP login.  GovernmentAid, a department of Bottom Line Concepts, assists clients with different forms of monetary relief, especially, the Employee Retention Credit Program.

 

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