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About ERC

ERC EXPLAINED

ERC is a government stimulus program designed to help businesses that were able to retain their W-2 employees during Covid-19 pandemic. Established by the CARES Act, it is a refundable tax credit- that YOU can claim for your business!

FAQ's

Can I apply for ERC if I'm self-employed?

No. Only W-2 employees wages can be claimed and you cannot claim your own wages as a majority owner even if you are on a W-2 wage.

Can I apply for ERC if I have 1099 employees?

No. Only W-2 employee wages can be claimed for the credit.

Can I apply for ERC if I have family on payroll?

Yes! You can apply for the ERC, HOWEVER you may not claim the ERC on wages paid to family members of majority owners. This includes immediate family plus in-laws, aunts, uncles, and cousins.

Can I get ERC if my business revenue went up?

Yes! Your business will be able to qualify for ERC if you had a full or partial suspension of operations.

What are qualified wages for ERC?

The Employee Retention Credit (ERC) uses qualified wages as the basis for its calculation, which covers any wages paid that subject to FICA taxes. These qualified wages can include various types of compensation, such as salaries, hourly wages, vacation pay, and certain health plan expenses, among others.