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Let’s help you get the highest possible funding for your business. ADS Funding Solutions can help you obtain ERC Payroll Tax Credits, Up to $26,000 per employee!

What is the Employee Retention Credit?
The Employee Retention Credit is one of the largest refundable tax credits available to business owners which can be claimed on qualified wages, including certain health insurance costs, paid to employees. Businesses can get up to $26,000 per employee retained despite the effects of the COVID-19 pandemic.

CARES Act – 2020
Business owners who qualify, including borrowers who took a loan under the initial PPP, can claim the credit against 50% of qualified wages paid up to $10,000 per employee annually. This is for wages paid between March 13 and December 31, 2020.

Consolidated Appropriations Act – 2021
Business owners who qualify, including PPP recipients, can claim a credit against 70% of qualified wages paid. Moreover, the wages that qualify for the credit are now $10,000 per employee per quarter.

American Rescue Plan Act – 2021
Under this act, the credit remains at 70% of qualified wages up to a $10,000 limit per quarter. Therefore, employers can get a maximum of $7,000 per employee per quarter through the first three quarters of 2021. This is after the passage of the Infrastructure Investment and Jobs Act changed the end date of the program for most businesses. However, Recovery Startup Businesses (RSBs) were eligible through the end of 2021. RSBs could be eligible to take a credit of up to $50,000 for the third and fourth quarters of 2021.

See the IRS guidelines Here

How Do the Credits Work?
The Coronavirus Aid, Relief, and Economic Security Act (also known as the CARES Act) was signed into law on March 27, 2020, to assist businesses. Under this Act, businesses can keep their workers employed through the Payroll Protection Program (PPP) administered by the Small Business Administration and Employee Retention Credit (ERC) administered by the Internal Revenue Service.

Employee Retention Credit (ERC) allows employers with businesses financially impacted by COVID-19 to be eligible for up to $26,000 per employee.

ERC is not a loan, so there is no repayment.

There are also no restrictions for how recipients of the credit must use the funds.

Up to $26,000 Per w-2 Employee
Full Time and Part Time Employees Qualify.

2020 ERC Program – Refundable tax credit of 50% of up to $10,000 in wages paid per employee from 3/12/20-12/31/20 by an eligible employer with a potential of up to $5,000 per employee.

2021 – The ERC increased to 70% of up to $10,000 in wages paid per employee per quarter for Q1, Q2, and Q3 with a potential of up to $21,000 per employee.

If you need more information about the benefits of ERCs, ADS Funding Solutions is here to help you.

Get in Touch

Schedule a free consultation with us to discuss your eligibility and how to get the highest possible funding through the Employee Retention Credit.