Part of the CARES Act, the Employee Retention Tax Credit (ERTC) gives tax credits of up to $26,000 per employee for businesses affected by the COVID pandemic. The (ERTC) represents the single largest small business stimulus in U.S. history behind the Paycheck Protection Program (PPP). Despite this, many businesses still do not understand how tax credits work, how much stimulus is available, and how to get it since PPP loans got all the attention in 2020 and early 2021.
In order to claim the ERTC, employers must report their total ERC-qualified wages for each calendar quarter on their amended federal employment tax returns. As a result of recent legislation, employers can now also claim the ERTC even if they received a PPP Loan.
There are many companies out there who are soliciting employers with offers to help them apply for the ERTC. Many of them have dubious credentials or charge exorbitant fees for their services. P3 Cost Analysts is a trusted and active Chamber Member and is currently offering a 10% discount off commissions for Anne Arundel Chamber members. P3 fees are based only on the amount of ERTC you receive. If they calculate no credit due, there is no fee.
If you haven’t yet looked into your eligibility for ERTC, we encourage you to contact:
Larry Levine, Expense Reduction Consultant
email@example.com | 410-205-2475