Tax Incentive Programs

We’ve Got You Covered with Tax Incentive Programs

Employee Retention Tax Credit (ERC)

Unlock significant tax benefits through our employee retention credit services

The Research & Development (R & D) Tax Credit

Fuel innovation with research and development tax credits tailored for your growth.

Employee Retention Tax Credit (ERC)

One of our areas of expertise are the Government’s Tax Incentive programs. We want to help our clients take full advantage of these currently available programs before it’s too late.

As a result of the Coronavirus pandemic the CARES (Coronavirus Aid, Relief, and Economic Security) Act was established. It’s $370 billion in funding is available to small business and individuals as a stimulus to aid in these recent difficult times. For keeping employees during the pandemic certain businesses are allowed to claim a tax credit, the Employee Retention Tax Credit. The Act was signed into law March 27, 2020.

The ERC allows employers to claim a payroll tax credit for retaining employees during the pandemic. If the employer meets eligibility, they can apply for a 50% credit against the wages they paid during the covered quarters. The credit would be up to $10,000 of wages that qualify per employee paid annually between March 13, 2020 and December 31, 2020. The maximum credit for 2020 is $5,000 per employee.

An extension was implemented for January 1, 2021, to September 30, 2021 with the COVID-19 Relief Package. If an employer qualifies, they can claim a credit for 70% of the wages they paid per quarter up to a limit of $10,000 of qualified wages per employee. $21,000 is the maximum credit per employee for 2021.
This Is How Your Business Qualifies

There are two paths to qualify:

#1, As a result of a government order you experienced a full or partial suspension of business operations.

#2, Compared to the same quarter in 2019 the business suffered a significant decline in revenue.

The decline in revenue needs to be equal to or greater than 50% for 2020, and a decline of 20% or more in 2021 compared to the same quarter in 2019.

This Is How Eligible Employers Apply for the ERC

We work with qualified employers and review their appropriate financial records and determine the dollar amount of their estimated credit.

On the employer’s behalf our team will complete and file the correct IRS forms. We will additionally prepare and retain all supporting paperwork.

  • Step 1:  Provide needed documents
    Our team will go to work on the details to determine your calculated ERC credits.
  • Step 2:  Your returns will be amended
    Our team will prepare, audit your documents, and assist you in filing the required 941x amended returns.
  • Step 3:  Receive your tax credit
    You will receive a check from the IRS. Please allow us the assist you in getting your ERC tax credit.

The Research & Development (R&D) Tax Credit

Did you know that your small business may be eligible to receive congressionally mandated Tax-Credits & Incentives that you probably don’t know even exist?

Congress enacted the R & D tax-credit in 1981 and according to recent IRS data, has been expanded through several administrations. It was designed to help American businesses be more competitive & keep jobs in the USA and their local communities. They reward companies who innovate, expand their business & develop or improve existing products and services. Additionally, over 40 states also offer Tax Credits and Incentives at the State level.

While approximately 6 out of 10 large companies take advantage of these Tax Credits & Incentives, fewer than 5% of small companies file for them.

The real truth, is that most companies just don’t know about them. Let us help you discover these Tax Credits and Incentives for your business.

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