How Startups Can Make an Extra $50,000 With The ERC (Employee Retention Credit)

22 Jun 2021 · 1 min

Watch on YouTube

1:03

Donna Genie explains the Employee Retention Credit for startups: 70% of wages up to $7,000 per employee per quarter. You qualify if you started after February 15, 2020, have under $1 million in annual sales, and can claim quarters 3 and 4 of 2021 for up to $50,000.

Questions this video answers

70% of wages.

$7,000 per employee per quarter.

$50,000 per business.

Business must have started after February 15, 2020.

Less than $1,000,000 in sales for the year.

Chapters

Start your business after February 15th of 2020. If so, you may be eligible for the Employee Retention Credit that is specifically developed for recovery startup businesses. The credit is 70% of wages up to $7,000 per employee per quarter to a maximum of $50,000 for each business. The only requirements are that you started your business after February 15th of 2020 and that you have less than a million dollars in sales for the year. This credit is available for quarters three and four of 2021. So I'd love to help you take advantage of this. I'm Donna Bordeaux Moves. I'd love to hear from you if you feel like you qualify. I want to get you some money.