Chamber on Tap - Sponsored by Coomber Consulting
Tired of the Spammers and Robocalls about ERTC?
The Encinitas Chamber of Commerce is holding a Seminar at Modern Times Chamber on Tap to help you find out if your business can qualify to receive up to $26,000.00 per W2 Employee in a TAX REFUND CHECK!
What is it?
The Employee Retention Tax Credit program (ERTC) is a federal program created by Congress in the CARES Act which provides qualifying employers (business owners and non profit organizations) tax refunds of up to $26,000 per W-2 employee. Most businesses, even essential businesses and non-profits qualify under the "Government Order" test, although there is also a "Gross Receipts" test. THIS IS NOT A GOVERNMENT LOAN.
Which Size of Businesses Can Qualify?
Employers that had 100 or fewer full-time W-2 employees in 2019 can qualify for both 2020 and 2021 tax credits. Do you have 100 or fewer W-2 Employees?
How Do I Qualify?
There are two tests for qualification purposes (you only need ONE to qualify): The Gross Receipts test and the Government Orders test. The Gross Receipts test is met when the business suffered a decline in gross revenue of 50% in 2020 from the same quarter of 2019 and a decline of 20% in 2021 from the same quarter of 2019. The Government Orders test is met when a business suffered a full or partial suspension of its operations as a result of a ?government? order (federal, state, local, or health department) limiting commerce, travel, or group meetings. Any disruption of the business operations due to a government order qualifies the business for tax credits, whether or not it was deemed an essential business.
There is no revenue component to the Government Orders test.
90% of CA Businesses will qualify, are you one of them?
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