Employee Retention Credit

The Employee Retention Credit (ERC) is a payroll tax credit that rewards business owners for keeping people employed during the pandemic. This is a brand new tax credit that many businesses will qualify for. The credit is received by the Internal Revenue Service (IRS) and understanding the IRS guidelines is essential to ensure you maximize the credit while staying compliance with the latest guidance from the IRS.  

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Rooted Wealth was able to help me get almost $80,000, even though I purchased my practice at the end of 2020. They provided a lengthy report substantiating this credit and I feel comfortable they are following all IRS guidelines to the “t”.

–Dr. Lee (Northern California)

A friend referred me to Rooted Wealth. I purchased my practice in 2021 and was still able to qualify for over $20,000 from the employee retention credit. I was bummed that I missed out on so many COVID related programs that were given to business owners. I’m grateful it was not too late to get this credit.

–Dr. Rosales (Northern California)

 I purchased a practice in late 2021. I missed out getting a PPP loan, but Rooted Wealth helped me qualify for the Employee Retention Credit and helped me get over $40,000!

–Dr. Hanawalt-Wes (Southern California)

  I qualified for over $90,000 from the employee retention credit. This is in addition to what I already received from my two PPP loans. Rooted Wealth helped me determine my eligibly and calculate the credit. They prepared thorough documentation and filed all the necessary paperwork with the IRS.

–Dr. B (Northern California)

3 Ways to Qualify for 
the Employee Retention Credit

Reduction in revenue

 

If your business experienced a reduction in revenue and :

  • There is a 50% reduction in your gross receipts in 2020 when compared to the same quarter in 2019.
  • There is a 20% reduction in your gross receipts in 2021 when comparing to the same quarter in 2019.

Impacted by government orders

 

 

If a governmental order had a significant impact on your business operations, such as:

  • Required to fully or partially suspend operations
  • Occupancy was limited to provide for social distancing
  • Were unable to obtain crucial goods or materials from suppliers because they were required to suspend operations
  • Shelter in place preventing employees from going to work

started a business during the pandemic

 

If you started a business during the pandemic, and :

  • Business was started after February 15, 2020
  • Your annual gross receipts totaled less than $1M

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