The Employee Retention Credit
Trusaic in collaboration with Adequate Funding specializes in maximizing the Employee Retention Credit for small businesses, enabling you to receive up to $26,000 per employee.
CREDITS GENERATED FOR CLIENTS
$200,000,000+
STEP #1
Fast qualifying process
Trusaic's proprietary software and tax professionals will guide you through a simple, quick, and comprehensive qualifying process and begin onboarding procedures once eligibility is determined.
STEP #2
Efficient onboarding
Our team of specialists will import your data and calculate a real-time refund for your business.
STEP #3
Submit refund to IRS
We handle the entire process of documenting, and preparing for submission of your Employee Retention Credit refund to the IRS.
STEP #4
Receive your refund
Collect your IRS refund. We only request payment after you've received your refund.
STEP #5
Rest assured
In the unlikely event of an IRS inquiry, you can be sure your refund claim and records are in good hands.
ERC program overview
What is the Employee Retention Credit (ERC)?
The ERC is a refundable tax credit established by the CARES Act to help businesses that were able to retain their employees during the Covid-19 pandemic. Here are some key points:
- Available for both small and mid-sized businesses
- Based on qualified wages and healthcare paid to employees
- Provides up to $26,000 per employee
- No limit on funding
- Available for 2020 and the first 3 quarters of 2021
How much money can you get back?
You can claim up to:
- $5,000 per employee for 2020
- $7,000 per employee per quarter for 2021
How do you know if your business is eligible?
To qualify, your business must have been negatively impacted in either of the following ways:
- A government authority required partial or full shutdown of your business during 2020 or 2021. This includes your operations being limited by commerce, inability to travel, or restrictions of group meetings
- Gross receipt reduction criteria is different for 2020 and 2021, but is measured against the current quarter as compared to 2019 pre-COVID amounts
Other important points to note:
- A business can be eligible for one quarter and not another
- With new legislation in 2021, employers are now eligible for both the ERC and the Paycheck Protection Program (PPP)
- The ERC cannot apply to the same wages as the ones for PPP
Our unique value proposition
The ERC program can be overwhelming, with technical details and complex requirements that vary based on your business's unique circumstances. Navigating the process on your own can leave you with unanswered questions and potential missed opportunities for maximizing your claim.
But you don't have to go it alone. Our team of experts specializes in ERC and can help you make sense of it all. We'll guide you every step of the way and ensure that you're taking full advantage of the program's benefits.
Our services offer:
Dedicated experts to navigate the complex ERC program rules and answer your questions such as:
How the PPP loan affects your ERC claim
What are the differences between the 2020 and 2021 programs and how they apply to your business
Aggregation rules for larger, multi-state employers, and how to interpret multiple states' executive orders
The impact of part-time, Union, and tipped employees on your refunds
Ready to get Started? It's easy.
- Qualification determination for your business
- Thorough analysis to compute the maximum amount you can receive
- Claiming process guidance with end-to-end support and documentation assistance
Qualify Now
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About Trusaic and Adequate Funding
With Trusaic's expertise in regulatory compliance and data analysis, we help businesses navigate the complexities of the ERC and other tax credit programs. Our team provides comprehensive support, from determining eligibility to preparing documentation and filing claims.
Meanwhile, Adequate Funding helps organizations access funding and capital to support their growth and innovation. Through partnerships with lenders and financial institutions, we help businesses take advantage of tax credit programs.
Our mission is to empower businesses with the financial tools they need to succeed. Contact us today to learn more about how we can help your business thrive.
More about ERC
Schedule a consultation call to learn more about the Employee Retention Credit (ERC) and how it can benefit your business.
Please note that if you only have 1099 employees, you do not qualify for the ERC.
The ERC is a stimulus program that rewards businesses for retaining their employees during the Covid-19 pandemic. You could be eligible to receive up to $26,000 per employee, with the program available for 2020 and the first 3 quarters of 2021. To qualify, your business must have experienced a decrease in revenue or a Covid-related event. Contact us to schedule your ERC introduction call and get started on maximizing your claim.