All About Daily Tulsa News

Small Business Staff Member Retention Credit 2021-- ERTC Qualification Report Launched

Jun 1

ERTC Today is a tax credit consulting company that has created an online tool to assist small business owners in determining if they are eligible for 2021 Employee Retention Tax Credit.

Participants can also use the newly launched tool to get consultations about their eligibility for the tax credit, and what amount they can expect. The ERTC does not have to be paid back, and any business, with fewer than 500 employees, both non-profits and start-ups, may potentially qualify.

The tool, along with more information about the ERTC, can be found at http://localrecoveryhelp.com

This announcement is to increase awareness of the newly approved tax credit. The IRS initiated it to help small businesses maintain their staff during difficult times.

During the pandemic, many businesses have struggled with staff and supply shortages, closures, and ongoing uncertainty. Over the past two years, lawmakers have created several relief programs to assist business owners and employees in these difficult times. One such program is the ERTC, which was introduced in March 2020 as part of Coronavirus Aid, Relief and Economic Security Act (CARES Act).

Businesses could be eligible for relief if they had to suspend or complete their normal operations in 2020 or 2021 because of a government order. This applies if they engaged in trade or business during these years and their employers were operating during the qualifying year.

No matter if the business owner received assistance through the Paycheck Protection Program (PPP), refunds can be up to $28,000 per employee. Before March 2021, many businesses chose the PPP, but since IRS regulations have changed many more businesses are eligible for both relief programs.

GL Digital, a Phoenix-based digital content marketing company and enterprise software provider dedicated to small business support, endorses ERTC Today. In addition to tax consultation, GL Digital provides many small business other resources, including advice on social media management software, domain name registrars, webinar tools, and video hosting platforms.

Interested parties can find more details at http://localrecoveryhelp.com