Increase Cash Flow with the Employee Retention Credit

The Employee Retention Credit (ERC) is designed to encourage employers whose businesses have been negatively affected by COVID-19 to keep employees on payroll.

The Employee Retention Credit, established by the CARES Act, is a refundable tax credit of up to $5,000 per employee for 2020; the credit can be up to $7,000 per employee per quarter (for Q1 through to Q3) 2021. The ERC is available to businesses and other employers, including nonprofit organizations.

ERC Qualifications
To qualify, your organization must have been adversely affected in one of two ways:

1. Been fully or partially suspended by government order during 2020 and/or 2021
2. Had a significant decline in gross receipts
   • For 2020, gross receipts fall below 50% of the same quarter in 2019
   • For 2021, gross receipts fall below 80% of the same quarter in 2019

Partner with Eide Bailly to Maximize Your Tax Savings
Eide Bailly has a designated team ready to help you maximize the ERC and its benefits for your organization. Specifically, our Employee Retention Credit team can help you: 

• Identify if you qualify for the ERC 
• Outline and model various ERC calculations to maximize the credit around PPP forgiveness 
• Help you claim the credit 
• Ensure proper payroll tracking and documentation 

Ready to start increasing your cash flow? 
Partner with a trusted firm to help you benefit from the Employee Retention Credit.