Helping 1099 workers and business owners receive up to $32,220 in government funds for covid relief through the FFCRA (family first coronavirus response act).

Boost Your Business with the Employee Retention Credit Are you a business owner? If so, you may be interested in the Employee Retention Credit (ERC), a tax incentive program introduced by the U.S. government in response to the COVID-19 pandemic.  The ERC is designed to encourage businesses to retain their employees during difficult economic times by providing a tax credit for eligible wages paid to employees.  What is the Employee Retention Credit (ERC)?The Employee Retention Credit (ERC) is a tax credit that was introduced as part of the CARES Act in March 2020. The ERC is designed to provide financial relief to businesses that were affected by the COVID-19 pandemic and incentivize them to retain their employees on payroll. Who is Eligible for the ERC?Eligibility for the ERC depends on several factors, including the size of the business, the impact of the pandemic on the business, and whether or not the business received other forms of COVID-19 relief, such as a Paycheck Protection Program (PPP) loan. Generally, businesses that experienced a significant decline in gross receipts or were subject to a government-mandated shutdown or suspension of operations due to COVID-19 may be eligible for the ERC. How Does the ERC Work?The ERC provides eligible businesses with a tax credit equal to a percentage of qualified wages paid to employees during a specified period. The percentage of the credit and the maximum amount of qualified wages that can be used to calculate the credit varies depending on the timeframe in which the business is eligible and the size of the business. Under the original CARES Act, the ERC was a 50% tax credit on up to $10,000 of qualified wages per employee per year, for a maximum credit of $5,000 per employee. However, the CAA and ARPA expanded the ERC to provide a 70% tax credit on up to $10,000 of qualified wages per employee per quarter, for a maximum credit of $7,000 per employee per quarter.

Vacation rental management company at the Turtle Bay resort on the North Shore of Oahu.

Financial analyst in the Private Wealth Management division in San Francisco.

Staff auditor.