Eligible employers can claim the ERC for calendar quarters prior to Q4 2021. For the first three quarters of 2021, eligible employers can still claim a maximum payroll tax credit of $7,000 per employee per quarter. For the entire year 2020, the maximum credit is $5,000 per employee. The total possible credit is $26,000.
ERC Estimation Tool
A simple form to help businesses calculate their potential Employee Retention Credit.
FINDING YOUR EMPLOYEE RETENTION CREDIT
FOR Q1-Q3 2021
This form estimates the credit per eligible quarter of 2021. The max credit for 2021 is $21,000.
Number of Employees
Total Wages Paid Per Quarter
(Maximum $10k/quarter/employee)
Wages Paid To Owner
Wages Paid With PPP Loans
Estimated Total Qualified Wages
Total Estimated Credit on Wages (70%)
FAQs
How many employees can a business claim the ERC for?
If you’re a business with less than 100 employees, the ERC can ordinarily be claimed on all employees. Businesses with more than 100 employees are subject to additional restrictions.
Call us to learn more.
If my business received a PPP loan, is it still eligible to receive an ERC tax credit?
Even if your business applied for and received PPP funding, you may be eligible for the ERC credit. The best way to determine eligibility is to begin our pre-qualification process.
Why can’t my payroll service or accountant do this for me?
Payroll services often aren’t equipped to properly evaluate and quickly process ERC credits. Our tax attorneys are well-versed in the details of this federal program and understand how they can be uniquely applied to YOUR business.