Did your company’s gross receipts decline by 50% in any quarter for 2020 or by 20% in Q1/Q2 2021 compared to the same quarter in 2019?
Was your company subject to a full or partial suspension due to a government mandate/order that had a more than nominal (10%) effect on your business?
If so, you could be eligible to receive up to $19,000 per employee through the new Employee Retention Credit (under the CARES act).
This credit is fully refundable and offsets an employer’s payroll taxes to help keep cash in the business immediately.
If you think you might qualify or would like to discuss, please contact your CPA and we’d be happy to discuss the ERC with you.