Employee Retention Credit is a fully refundable tax credit for a percentage of the qualified wages you pay employees. It’s applied to your federal payroll tax liability. Any excess credit amount is refundable.
Basically, it's a payroll credit for having employees. If we could max the credit in one quarter for even a single employee it could be $7,000 for having that one employee. The more employees and the more periods of qualification could equal more. Hard to judge what the credit would be without getting into the details. It could get as high as $33,000 per employee.
How this process works for us is I would first see what periods the business qualifies, seek payroll data from you and do a high level analysis. We would let you know our findings within a range and at that point you can either elect to engage in our services to calculate the credit to the penny and prepare the forms to claim. Basically everything up to that point is no cost to you. If you do elect to engage in our services our fee never exceeds 5% of the credit value. Basically it is free to find out what is possible.
If you are interested in find out out what is possible - click here to join the portal and start the process.