144 - You Probably Qualify for ERTC

There's another pandemic financial incentive that you probably haven't claimed yet. Not PPP. Not EIDL. The Employee Retention Tax Credit (ERTC). A lot of businesses didn't qualify when the program first launched. But the government updated the qualifications this summer and the chances are that you now most likely qualify.
Join Martin, Khalil, and Daniel from Tax Credit Authority as they go over the ERTC qualification process, how much a company can claim, and why you should not miss out on this benefit for your business.
Time Stamps 00:16 - Martin's Recent Trips 01:33 - Episode and Guest Intro 02:21 - How Martin Got Connected with TCA 03:59 - What is ERTC? 05:12 - Introduction to Tax Credit Authority 06:04 - Which Companies Qualify for ERTC? 07:14 - Other Factors to Consider When Filing for an ERTC 10:31 -  How to Demonstrate Business Impact for ERTC Filing 12:06 - Additional Ways to Be Eligible for an ERTC 15:22 -  Determining the Size or Eligibility of the Credit 17:06 - The Value of Having Proper Documentation 18:44 - Is Childcare-Related Workforce Reduction Considered a Business Impact? 20:08 - How Much ERTC Can You Claim Per Employee? 22:15 - Can a PPP Loan Affect Your ERTC Claim? 25:09 - Is ERTC Taxed? 27:54 - How TCA Processes Your ERTC Application 32:03 - Examples of Companies that have claimed their ERTC 36:38 - Timeframe From ERTC Application to Receipt of Refund 38:14 - Is there a Deadline for Claiming the ERTC? 38:51 - What if There's No Income Drop in Your Business?  40:16 - Factoring in the Shutdown Period  42:02 - Is an ERTC Claim Subject to Audit? 43:19 - How To Reach Tax Credit Authority
Quotable Moments “Employee Retention Tax Credit (ERTC) is part of the Cares Act. The purpose behind it is to provide economic stimulus to the economy, and the vehicle for doing that is providing a tax refund to employers.” - Daniel Oestrich “Very common businesses have multiple different impacts that face the business during the timeframe of the pandemic. And that particular aspect is a very strong case to be made for business impact.” - Daniel Oestrich  I think the message here is it's definitely worth it. Have somebody go get some real numbers. The effort involved is pretty minimal, especially if you have an accountant.” - Martin 
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