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Old 07-26-2021, 07:16 PM  
Rain Man Rain Man is offline
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Small Business People, have you heard of this?
I'm not familiar with it, but it seems like it's pretty notable. Anyone doing this or done it? It's the Employee Retention Tax Credit (ERTC), which seems to be covid-related.

https://www.shrm.org/resourcesandtoo...ax-credit.aspx
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Old 07-26-2021, 08:01 PM   #2
kccrow kccrow is offline
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Familiar with it but we didn't meet the eligibility criteria. I'd imagine a lot of employers should though.
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Old 07-26-2021, 08:59 PM   #3
Rain Man Rain Man is offline
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Originally Posted by kccrow View Post
Familiar with it but we didn't meet the eligibility criteria. I'd imagine a lot of employers should though.
I'd never heard of it and just happened to see an article. My company got pummeled for a couple of quarters, so this might be a really nice thing for us.
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Old 07-27-2021, 07:54 AM   #4
RockChalk RockChalk is offline
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Originally Posted by Rain Man View Post
I'd never heard of it and just happened to see an article. My company got pummeled for a couple of quarters, so this might be a really nice thing for us.
I've prepared a lot of ERTC claims for clients. It's a very valuable credit to those who qualify, especially if they did not get in on PPP. Even if they did, it's still turned out to be a nice credit in some cases.
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Old 07-27-2021, 08:09 AM   #5
mililo4cpa mililo4cpa is offline
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The company I worked for filed and is getting a sizable credit....and we advise our clients on this as well....
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Old 07-27-2021, 08:09 AM   #6
mililo4cpa mililo4cpa is offline
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Originally Posted by RockChalk View Post
I've prepared a lot of ERTC claims for clients. It's a very valuable credit to those who qualify, especially if they did not get in on PPP. Even if they did, it's still turned out to be a nice credit in some cases.
I second this.....
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Old 07-27-2021, 08:53 AM   #7
chiefforlife chiefforlife is offline
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Originally Posted by kccrow View Post
Familiar with it but we didn't meet the eligibility criteria. I'd imagine a lot of employers should though.
Same here. It sure felt like we met the criteria but when I did the math it wasnt 50% in any one quarter.
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Old 07-27-2021, 09:36 AM   #8
Mr. Plow Mr. Plow is offline
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Had not heard of this one - but it looks like we aren't eligible. Hope people take advantage of it.
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Old 07-27-2021, 09:37 AM   #9
Buehler445 Buehler445 is offline
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I’ll look at it during tax season.

But I probably am ineligible.
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Old 07-27-2021, 10:27 AM   #10
MVChiefFan MVChiefFan is offline
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I own a small people’s business. Stepladders, stools, booster seats, those sorts of things. It’s up and coming, but dwarfs in comparison to the big box stores.
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Old 07-27-2021, 09:00 PM   #11
kccrow kccrow is offline
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Quote:
Originally Posted by chiefforlife View Post
Same here. It sure felt like we met the criteria but when I did the math it wasnt 50% in any one quarter.
Same for us. We had one quarter that was about -30% while the rest were even or better.
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