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ERC - Employer Retention Credit 1. Can we still apply for
ERC - Employer Retention Credit 1. Can we still apply for the credit? 2. What quarters are covered if we can still apply? 3. Do we still have to exclude the wages used for PPP loans 4.What form do we … read more
Yaw, CPA
Yaw, CPA
6,485 satisfied customers
Is there an easy way to understand how to file the 941 for
Is there an easy way to understand how to file the 941 for employee retention credit, and how do you know what to claim if was partial disruption to services but not profit loss… read more
Carter McBride
Carter McBride
LLM
9,250 satisfied customers
If a Motel owner business claimed ERC in 2020 under recovery
If a Motel owner business claimed ERC in 2020 under recovery startup business, can the same owner claim ERC under Partial Shutdown for 2021 if the breakfast area and swimming pool of the motel owner i… read more
Carter McBride
Carter McBride
LLM
9,250 satisfied customers
My gross sales did not fall more than 50 percent but we did
My gross sales did not fall more than 50 percent but we did shut down our showroom and we retained many employees. Do we qualify for the retained employee tax credit?… read more
Barbara
Barbara
Enrolled Agent, Paralegal
24,410 satisfied customers
Irwin Are you familiar with ERC employer retention Credit
Hi Barbara It's me again , Irwin Are you familiar with ERC employer retention Credit Where can I read what the definition of the term If your business was adversely affected means It seems that you ca… read more
Barbara
Barbara
Enrolled Agent, Paralegal
24,410 satisfied customers
Taxpayer filed income taxes on accrual basis in 2019. In
Taxpayer filed income taxes on accrual basis in 2019. In 2021, their taxes are filed on cash basis. How are gross receipts compared for ERC purposes?… read more
Yaw, CPA
Yaw, CPA
6,485 satisfied customers
I read somewhere that the ERC credit per employees is 33K
I read somewhere that the ERC credit per employees is 33K How is this calculated for 2020 & 2021 Ty… read more
Barbara
Barbara
Enrolled Agent, Paralegal
24,410 satisfied customers
Are 2020 and 2021 considered separately for the ERTC Gross
Are 2020 and 2021 considered separately for the ERTC Gross Receipts test? For example, my client did not meet the gross receipts test for Q4 2020. If my client does meet the gross receipts test for Q1… read more
Yaw, CPA
Yaw, CPA
6,485 satisfied customers
A PA lawyer, who is a Schedule C proprietor, had a reduction
A PA lawyer, who is a Schedule C proprietor, had a reduction in revenue of greater than 50% in the second quarter of 2020 due to the courts suspending operations as a result of Covid-19. He has 3 empl… read more
Yaw, CPA
Yaw, CPA
6,485 satisfied customers
TAX QUESTION ERC FOR 2020 Is the first quarter calculation
TAX QUESTION ERC FOR 2020 Is the first quarter calculation based on a partial period - specifically for payroll paid between 3-13 - 3-31? (In order to receive the credit it appears Form 941 needs to b… read more
Yaw, CPA
Yaw, CPA
6,485 satisfied customers
A client of mine during the second quarter of 2020 had city
A client of mine during the second quarter of 2020 had city restrictions that not more then so many people can be allowed in his auto store for service. Is that considered partial shutdown of the busi… read more
Barbara
Barbara
Enrolled Agent, Paralegal
24,410 satisfied customers
We qualify for ERC for 2nd-4th qtr 2020. PPP loan was
We qualify for ERC for 2nd-4th qtr 2020. PPP loan was forgiven. Payroll wage Dates for forgiven PPP are 5-11-20 - 10-12-20. ERC is per quarter. Can we claim ERC for qtr 2 per dates 4-01-20 - 5-11-20 a… read more
Yaw, CPA
Yaw, CPA
6,485 satisfied customers
About employee retention tax credit, CA, discussing with
Pediatric therapy center was whether affected by covid government, or state, or county order.. so I could judge if I am qualified to get employee retention tax credit.… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
22,707 satisfied customers
Have a question regarding Employee retention credit for
have a question regarding Employee retention credit for 2020. My business qualifies for quarter 2 2020 because the the receipts were 50% less than 2019. If the wage for an employee for the quarter is … read more
Carter McBride
Carter McBride
LLM
9,250 satisfied customers
For ERC it says revenue has to drop quarter to quarter from
For ERC it says revenue has to drop quarter to quarter from 2019. It adds that If revenue hasn't dropped by more than 50%, you may still qualify for the ERC if your business operation has been partial… read more
Carter McBride
Carter McBride
LLM
9,250 satisfied customers
How do you calculate the ERTC for 1st quarter of 2021. What
How do you calculate the ERTC for 1st quarter of 2021. What exact amounts does the 70% credit apply to? Just the base wage or base wage plus fica plus fringe plus retirement etc?… read more
Diligent Mike
Diligent Mike
Attorney
Master's Degree
347 satisfied customers
For ERC, Q42020 revenues are down by over 50% when compared
For ERC, Q42020 revenues are down by over 50% when compared to Q4 2019. Is Q1 2021 an automatic quarter eligible for ERC or does the company have to reset based on Q1 2021 revenues?… read more
Carter McBride
Carter McBride
LLM
9,250 satisfied customers
ERC I am trying to help a client with the ERC as it applies
For Carter ERCHey- I am trying to help a client with the ERC as it applies to 2020 and am a little confused with what I have read.1. I know you have until 1/31 to submit Q4 941 to claim ERC. If it has… read more
Carter McBride
Carter McBride
LLM
9,250 satisfied customers
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