ERTC is Sunsetting Soon
The Employee Retention Credit (“ERTC”) was introduced as part of the Coronavirus Aid, Relief and Economic Security (“CARES”) Act to incentivize employers to retain employees during the pandemic by offering a refundable tax credit against employment taxes.
Does your business qualify?
Recently, the ERTC was expanded and extended as part of the Consolidated Appropriations Act, 2021 (“the Act”) to include the following provisions:
Employee Retention Tax Credit Facts
Rockerbox fees are 100% contingent upon our team capturing credits.
Our team has captured more than $200M in credits though ERTC.
Average tax credit per eligible employee through ERTC
ERTC calculations and counting…
Is Your Business Eligible for ERTC?
Since the credits captured through the ERTC offset payroll taxes, both for-profit and non-profits are eligible to participate.
Most restaurant owners were impacted by government shutdown orders in both 2020 and 2021. Even a order limiting capacity can lead to your restaurant being eligible for ERTC.
Physicians / Dentists
Depending on your practice and specialty, your practice could be eligible for the ERTC program (even essential practices like family practitioners).
Golf Courses / Clubs
Many golf courses have three or four revenue streams (Golf, Memberships, F&B and Events). The latter two revenue streams were more than likely materially injured during 2020 and 2021.
Most schools, whether they be private or non-profit were asked to shutdown or reduce their capacity in 2020 and 2021. Cheer schools, dance schools, gymnastics schools, swim schools and other third party institutions of learning may qualify.
Churches / Temples
Many places of worship were asked to shutdown and/or materially limit the number of parishioners participating in activities and services.
Many law firms and attorneys were unable to engage with local, county and Federal courts during the pandemic.
Most casinos inside and outside of Las Vegas were shutdown for extended periods during the pandemic.
SMB Owners in NY, CA, NJ
States like New York, California, New Jersey, Washington, and Oregon were fairly aggressive with issuing shutdown orders throughout 2020 and 2021.