Are you a Recovery Startup Business? Claim the ERTC Credit!
Are you a business owner that started your company February 15, 2020 or later you could qualify for the Startup Business ERTC Credit? Are you aware that you may qualify for the Recovery Startup credit for the Employee Retention Tax Credit? In the beginning, the ERTC was only for businesses that had a mandatory reduction of services or shutdown, or they met the income reduction requirements. In 2020, that was 50% compared to the same quarter in 2019. Those numbers, of course, for 2021 were reduced to 20% for the same quarter of 2019 compared to 2021 or a mandatory shutdown.
But with the third and fourth quarters of 2021. if you started your business after February 15, 2020, even if you did not have a mandatory shutdown. Of course, you don’t have that reduction of services to compare to 2019 because you weren’t operating. You can qualify for the recovery startup business assuming that you have wages that were paid that you can use for the Employer Retention Tax Credit. To qualify, you must have had at least one employee who is not a majority owner or a related individual that was paid for that period of time.
And if qualified, we can determine that credit for you and help you receive those funds that are due. If you have questions feel free to reach out to us at ERTCWizard.
We’ll be happy to help you understand these credits, how to apply for them, and if you want our assistance to actually do the filings for you. We can do that as well.
The Startup Business ERTC Credit is a tax credit that can help offset the costs of starting a new business. The credit is available to businesses that are able to create new jobs and investment in the economy. To be eligible for the credit, businesses must meet certain criteria including being headquartered in the United States and having less than $5 million in annual revenue. The credit can be used to offset the costs of things like employee salaries, research and development, and marketing expenses. Additionally, businesses that receive the credit must create at least 10 new jobs or invest at least $500,000 in the economy.
The Startup Business ERTC Credit is a great way to offset some of the costs associated with starting a new business. However, it is important to note that the credit is only available to businesses that meet certain criteria. Be sure to research the credit and determine if your business qualifies before making any decisions.
Do you have a Startup Business? See if you qualify for Startup Business ERTC Credit today!
If you have any questions about the Startup Business ERTC Credit, please contact us today. We would be happy to help you determine if your business qualifies for the credit.
Thank you for your interest in the Startup Business ERTC Credit!