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Established by the CARES Act, the ERC is a refundable tax credit - a grant, not a loan - that you can claim for your business. The ERC is available to both small- and mid-sized businesses. It is based on qualified wages and healthcare paid to employees.
- Up to $26,000 per employee
- Available for March 13 – December 31, 2020 and 3 quarters of 2021
- Qualify with decreased revenue or COVID event (government shutdown, etc.)
- No limit on funding
- ERC is a refundable tax credit
- PPP loans reduce wages eligible for credit.
Read our blog post to learn if your business is eligible, the amount of money you can get back, and other important information including why you need to be cautious of outside companies who are advertising preparation of the ERC.
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