Fountainhead PPP Phone Number – Claim Employee Retention Credit | PPP Loan Application

Employee Retention Credit claim up to $26,000 per employee. Fountainhead PPP Phone Number. 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 Phone Number

ERC is a stimulus program developed to assist those companies that had the ability to keep their staff members throughout the Covid-19 pandemic.

 

 

Developed by the CARES Act, it is a refundable tax credit– a grant, not a loan– that you can claim for your business. Fountainhead PPP phone number. The ERC is available to both little as well as mid sized companies. It is based on qualified incomes and healthcare paid to staff members

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Up to $26,000 per  worker
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Available for 2020 and the  very first 3 quarters of 2021
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Qualify with  reduced  earnings or COVID event
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No limit on funding
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ERC is a refundable tax credit.

How much money can you come back? Fountainhead PPP Phone Number

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

 Exactly how do you  recognize if your business is eligible?
To Qualify, your business  should have been  adversely  influenced in either of the  complying with  means:
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A  federal government authority required partial or full shutdown of your business during 2020 or 2021. Fountainhead PPP phone number.  This includes your procedures being limited by business, inability to take a trip or constraints of team conferences
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Gross  invoice reduction criteria is different for 2020  as well as 2021, but is  determined against the  existing quarter as compared to 2019 pre-COVID  quantities
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A business can be eligible for one quarter and not  an additional
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 Under the CARES Act of 2020,  organizations were not able to Qualify for the ERC if they had  currently  obtained a Paycheck Protection Program (PPP) loan.  Fountainhead PPP phone number.  With brand-new regulations in 2021, employers are currently qualified for both programs. The ERC, though, can not relate to the same salaries as the ones for PPP.

Why Us?
The ERC  went through several  adjustments and has many technical details,  consisting of  just how to  figure out qualified  earnings, which  workers are  qualified,  as well as  extra. Fountainhead PPP phone number.  Your business’ certain instance could need more intensive testimonial and also analysis. The program is complex as well as might leave you with several unanswered inquiries.

 

 

We can help make sense of  everything. Fountainhead PPP phone number.  Our devoted experts will certainly guide you and also lay out the actions you need to take so you can maximize the case for your business.

GET QUALIFIED.

Our  solutions  consist of:
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Thorough  analysis regarding your eligibility
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 Extensive  evaluation of your claim
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Guidance on the claiming process  as well as documentation
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 Certain program  competence that a  routine CPA or payroll  cpu might not be  fluent in
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 Rapid  and also smooth end-to-end  procedure, from  qualification to  declaring and receiving refunds.

 Devoted specialists that  will certainly interpret  very  intricate program rules  and also will be  offered to answer your  concerns, including:

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How does the PPP loan  aspect into the ERC?
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What are the  distinctions between the 2020 and 2021 programs and  just how does it  put on your business?
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What are  gathering  policies for  bigger, multi-state  companies,  and also  exactly how do I  translate  numerous states’  exec orders?
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Exactly how do part time, Union, and tipped workers impact the quantity of my reimbursements?

 All Set To Get Started? It’s Simple.

1. We  identify whether your business  receives the ERC.
2. We  evaluate your  case  and also  calculate the maximum  quantity you can  get.
3. Our team  overviews you  via the claiming process, from  starting to  finish,  consisting of proper  documents.

DO YOU QUALIFY?
Answer a few  straightforward  inquiries.

 ROUTINE A CALL.
Frequently Asked Questions (FAQs).

What period does the program cover?
The program began on March 13th, 2020 as well as ends on September 30, 2021, for eligible employers. Fountainhead PPP phone number.
You can  obtain  reimbursements for 2020 and 2021 after December 31st of this year,  right into 2022 and 2023.  As well as potentially  past  after that  also.

We have clients who got refunds only, as well as others that, in addition to refunds, likewise qualified to continue receiving ERC in every payroll they refine through December 31, 2021, at concerning 30% of their pay-roll expense.

We have customers that have actually gotten reimbursements from $100,000 to $6 million. Fountainhead PPP phone number.
Do we still Qualify if we  currently took the PPP?
Do we still Qualify if we did not incur a 20% decline in gross receipts?
Do we still Qualify if we  continued to be open during the pandemic?

The federal government  developed the Employee Retention Credit (ERC) to  supply a refundable employment tax credit to  aid businesses with the  price of keeping  team employed.

Qualified organizations that experienced a decrease in gross receipts or were closed because of federal government order as well as really did not claim the credit when they submitted their original return can capitalize by filing modified employment income tax return. For example, services that file 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 also 2021 quarters. Fountainhead PPP phone number.

With the exemption of a recovery start-up business, many taxpayers became disqualified to claim the ERC for wages paid after September 30, 2021. A recovery start-up business can still claim the ERC for earnings paid after June 30, 2021, and prior to January 1, 2022.

 

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

When the Covid 19 pandemic started, and also companies were compelled to shut down their operations, Congress passed programs to give economic aid to firms. One of these programs was the employee retention credit ( ERC).

The ERC gives qualified companies pay roll tax credit reports for incomes and health insurance paid to staff members. Nevertheless, when the Infrastructure Investment and also Jobs Act was authorized right into law in November 2021, it placed an end to the ERC program.

Despite  completion of the program,  companies still have the  possibility to claim ERC for up to  3 years retroactively. Fountainhead PPP phone number.  Right here is an summary of just how the program works and just how to claim this credit for your business.

 

What Is The ERC?

Originally  offered from March 13, 2020,  with December 31, 2020, the ERC is a refundable  pay-roll tax credit created as part of the CARAR 0.0% ES Act. Fountainhead PPP phone number.  The function of the ERC was to encourage employers to keep their employees on payroll during the pandemic.

Qualifying  companies and  consumers that  got a Paycheck Protection Program loan could claim  approximately 50% of qualified wages,  consisting of eligible  medical insurance  expenditures. The Consolidated Appropriations Act (CAA)  broadened the ERC.  Companies that qualified in 2021 can claim a credit of 70% in qualified wages.

 

Who Is Eligible For The ERC?

Whether or not you get approved for the ERC depends upon the moment period you’re obtaining. To be eligible for 2020, you require to have actually run a business or tax exempt organization that was partly or fully closed down due to Covid-19. Fountainhead PPP phone number.  You also need to reveal that you experienced a considerable decrease in sales– less than 50% of similar gross receipts contrasted to 2019.

If you’re trying to  get 2021, you must  reveal that you experienced a decline in gross  invoices by 80%  contrasted to the  very same  amount of time in 2019. If you weren’t in business in 2019, you can compare your gross  invoices to 2020.

The CARES Act does prohibit independent people from claiming the ERC for their own salaries. Fountainhead PPP phone number.  You additionally can’t claim earnings for certain individuals that belong to you, yet you can claim the credit for incomes paid to staff members.

 

What Are Qualified Wages?

What counts as qualified  salaries  relies on the size of your business  as well as how many  workers you have on staff. There’s no size  restriction to be eligible for the ERC, but  little and large  business are treated differently.

For 2020, if you had greater than 100 permanent employees in 2019, you can just claim the earnings of employees you retained however were not functioning. If you have fewer than 100 workers, you can claim every person, whether they were functioning or not.

For 2021, the threshold was raised to having 500 full-time employees in 2019, giving companies a whole lot more freedom as to who they can claim for the credit. Fountainhead PPP phone number.  Any incomes that are based on FICA taxes Qualify, as well as you can include qualified wellness expenditures when calculating the tax credit.

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

 

 Exactly how To Claim The Tax Credit.

 Despite the fact that the program ended in 2021,  organizations still have time to claim the ERC. Fountainhead PPP phone number.  When you file your federal tax returns, you’ll claim this tax credit by completing Form 941.

Some companies, particularly those that got a Paycheck Protection Program loan in 2020, mistakenly thought they didn’t get the ERC. Fountainhead PPP phone number.  If you’ve already submitted your income tax return and also currently recognize you are eligible for the ERC, you can retroactively apply by submitting the Adjusted Employer’s Quarterly Federal Tax Return (941-X).

 Given that the tax laws around the ERC  have actually  altered, it can make  establishing eligibility confusing for  several  entrepreneur. It’s  additionally  hard to  identify which wages Qualify and which  do not. The  procedure gets even harder if you  have  several  companies. Fountainhead PPP phone number.  And if you fill in the IRS types inaccurately, this can delay the entire process.

Fountainhead PPP phone number.  GovernmentAid, a division of Bottom Line Concepts, assists clients with numerous types of financial alleviation, specifically, the Employee Retention Credit Program.

 

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    Fountainhead PPP Phone Number