Recovery Start up Business ERC

8 Jun 2021 · 1 min

Watch on YouTube

1:10

A short YouTube video by Donna Genie (uploaded June 8, 2021) describing eligibility and benefits of the Employee Retention Credit (ERC) for "recovery startup businesses." Key points: businesses started or purchased after Feb 15, 2020 with annual revenues under $1,000,000 may qualify; the video states a 70% credit on wages up to $7,000 per quarter for quarters 3 and 4 of 2021, with a stated maximum credit of $50,000 per business. The speaker gives contact info (me@donnaaccounting.com) and asks viewers to subscribe.

Questions this video answers

After February 15, 2020.

Under $1,000,000 per year.

70% credit on wages, up to $7,000 per quarter.

$50,000 per business.

me@donnaaccounting.com

Chapters

Did you buy or start your studio after February 15, 2020? If so, you may qualify for the employee Retention credit that is available for recovery startup businesses. As long as your business started after February 15th of 2020 and your revenues are under 1 million dol the year, those are the qualifying features. You'll be able to get a 70% credit on wages paid to employees up to $7,000 per quarter for quarters three and four of 2021. The maximum credit amount overall is $50,000 per business. Nothing to sneeze at. I'd love to be able to help you take advantage of this. If you feel like you might be an eligible candidate, please email me@donnaaccounting.com Please check us out and subscribe to our YouTube page and our Facebook page. Thank you very much.