As an entrepreneur there are tons of ways to put more money in your pocket. We're thrilled to have guest blogger and eWN PLATINUM Member, Theresa Garcia, write for us this week to teach us more about the Employee Retention Credit.
What is the Employee Retention Credit?
It’s a refundable payroll tax credit up to $26,000 per employee for small businesses and non-profits with less than 500 FT employees.
How do you qualify?
With decreased revenue or a COVID event that negatively impacted your business by more than 10%.
Why take action now?
At the end of the year you’ll no longer be eligible for $5000 per employee for 2020.
What is the first thing to do?
Gather your documents for 2019 to 2021. You will need your gross receipts and your average number of full-time employees. Then just tell us how COVID-19 affected your business.
Who do you contact?
There are a lot of businesses out there doing ERC but they’re not necessarily qualified. When you work with Rubi’s Positive Empowerment you’re working with a vendor from the state and federal government who has partnered with processors that have 46 years of forensic accounting experience. These processors are the same people that audit the FBI, Post Office and Securities Exchange.
Don’t leave your money on the table. You have everything to gain and nothing to lose!