September 28, 2021

The Employee Retention Credit

A Rare Opportunity for Small Business Owners

The passage of the Consolidation Appropriations Act, 2021 has made the Employee Retention Credit (ERC) much more available by allowing PPP borrowers to apply for and receive the credit for the years 2020 and 2021.

If you meet ANY of the following tests, you have the potential to receive thousands of dollars with this payroll credit:

  1. Did you experience a full or partial suspension because of governmental orders limiting commerce, travel or group meetings due to COVID-19?

OR

  1. Did you have a decline in gross receipts in any quarter in 2020 that was 50% or more than the same quarter in 2019?

OR

  1. Did you have a decline in gross receipts in the first quarter of 2021 that was 20% or more than the same quarter in 2019? (If you were not in business in 2019, an election is available to use a comparable quarter in 2020.)

If you were able to answer yes to any of these questions, the professionals at Hobe & Lucas are ready to help you take advantage of the above outlined tax credits. Please email our office at ERC@hobe.com for further assistance.

Don’t Miss Out on a Stimulus Package Benefit That Could Earn You Back Thousands!

Hobe & Lucas Certified Public Accountants, Inc. is a full-service accounting and business consulting firm dedicated to providing clients with exceptional value.

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Independence, OH 44131