Money Small Business People, have you heard of this?

**Rain Man** · 07-26-2021, 07:16 PM

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

kccrow · 07-26-2021, 08:01 PM

Familiar with it but we didn't meet the eligibility criteria. I'd imagine a lot of employers should though.

**Rain Man** · 07-26-2021, 08:59 PM

Quote:

Originally Posted by kccrow

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.

**RockChalk** · 07-27-2021, 07:54 AM

Quote:

Originally Posted by Rain Man

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.

mililo4cpa · 07-27-2021, 08:09 AM

The company I worked for filed and is getting a sizable credit....and we advise our clients on this as well....

mililo4cpa · 07-27-2021, 08:09 AM

Quote:

Originally Posted by RockChalk

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.....

**chiefforlife** · 07-27-2021, 08:53 AM

Quote:

Originally Posted by kccrow

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.

Mr. Plow · 07-27-2021, 09:36 AM

Had not heard of this one - but it looks like we aren't eligible. Hope people take advantage of it.

**Buehler445** · 07-27-2021, 09:37 AM

I’ll look at it during tax season.

But I probably am ineligible.

MVChiefFan · 07-27-2021, 10:27 AM

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.

kccrow · 07-27-2021, 09:00 PM

Quote:

Originally Posted by chiefforlife

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.

07-26-2021, 07:16 PM
Rain Man NFL's #1 Ermines Fan Join Date: Jul 2001 Location: My house Casino cash: $3338491 VARSITY	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
Posts: 141,337

07-26-2021, 08:01 PM	#2
kccrow MVP Join Date: Oct 2011 Location: Michigan Casino cash: $3257078	Familiar with it but we didn't meet the eligibility criteria. I'd imagine a lot of employers should though.
Posts: 12,622

07-27-2021, 08:09 AM	#5
mililo4cpa Veteran Join Date: Jan 2017 Location: Orlando, FL Casino cash: $3210400	The company I worked for filed and is getting a sizable credit....and we advise our clients on this as well....
Posts: 3,230

07-27-2021, 09:36 AM	#8
Mr. Plow In Search of a Life Join Date: Dec 2005 Casino cash: $1997391	Had not heard of this one - but it looks like we aren't eligible. Hope people take advantage of it.
Posts: 30,803

07-27-2021, 09:37 AM	#9
Buehler445 Supporter Join Date: Apr 2007 Location: Scott City KS Casino cash: $2334734	I’ll look at it during tax season. But I probably am ineligible.
Posts: 56,771

07-27-2021, 10:27 AM	#10
MVChiefFan Veteran Join Date: Jul 2002 Location: Here Casino cash: $1624975	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. __________________ I haven’t slept for ten days straight… because that would be way too long.
Posts: 3,476	2 0