Tuesday, June 21, 2022

Employee Retension Credits, do you quaify?

YOU QUALIFY IF:

A governmental authority ordered your business to shut down or reduce its hours.

  • Your business fully or partially shut down during any quarter of 2020 or 2021 (starting March 12, 2020).
  • The credit applies only to the portion of the quarter(s) you were affected by the shutdown.

OR

Your business experienced a significant reduction in gross receipts.

  • For any quarter of 2020, your gross receipts were 50% or less than the same quarter in 2019

OR

  • For any quarter of 2021, your gross receipts were 80% or less than the same quarter in 2020 OR 2019