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Professional Guidance

Employee Retention Credit Services

Ready to reclaim damages caused by COVID while you safeguarded your workforce?

The pandemic left a significant impact on businesses, but the Employee Retention Credit (ERC) still offers a chance to recover and rebuild. At Sunrise, we're here to help you leverage this program to its fullest potential. Our Employee Retention Credit Services are designed to assist you in securing the financial relief you deserve even if you didn't at the time.

‍Our Services ‍

"Recover what's rightfully yours with optimized ERC benefits."

Our Employee Retention Credit Services encompass a range of tailored solutions to guide you through the complexities of the ERC:

Eligibility Assessment: Our experts assess your eligibility for ERC benefits based on specific criteria, including the scale of impact and workforce preservation efforts.

Calculations and Documentation: We meticulously calculate the amount you can reclaim through the ERC and help you compile the necessary documentation for your claim.

Claim Filing and Compliance: Our dedicated team manages the entire process of filing your ERC claim, ensuring that you meet all regulatory requirements.

Three-Step Process: Reclaiming COVID Damages with Confidence

Assessment: Our experts evaluate your business's financial status, analyzing the damages caused by COVID and the efforts you've made to maintain your workforce.

Calculation and Preparation: Once eligibility is confirmed, we conduct precise calculations and assemble comprehensive documentation to support your claim.

Claim Submission: We handle the submission of your ERC claim, ensuring accuracy and compliance with all applicable guidelines.

Find out more about the industries we work with and serve. Check out the specific criteria that may apply for you.

Who is Eligible: Understanding Qualifications for ERC

The Employee Retention Credit is available for businesses that meet some of the following the following criteria:

  • Business Impact: Businesses that experienced a substantial decline in revenue due to COVID-related challenges.
  • Workforce Preservation: Companies that demonstrated efforts to retain their workforce despite the adverse effects of the pandemic.

Why You Benefit: Questionnaire for Businesses

Answer these questions to see if Employee Retention Credit Services align with your business goals:

  • Did your business suffer financial losses due to the pandemic?
  • Did you maintain your workforce during these challenging times?
  • Did you have to adapt working hours, procedures or services? 

Qualified Wages: An Essential Aspect of ERC Eligibility

Understanding what constitutes 'qualified wages' is crucial for optimizing your ERC benefits. At Sunrise, we're here to guide you through the complexities, ensuring you claim the credit you deserve.

‍Eligible Year 2020: Defining Qualified Wages

In 2020, 'qualified wages' were wages paid by eligible employers to employees during the period March 13 to December 31, 2020. For businesses with 100 or fewer full-time employees, all wages qualified, regardless of suspension or revenue decline. For larger employers, only wages paid to employees not providing services due to a full or partial suspension or a significant decline in gross receipts were qualified.

Eligible Year 2021: Navigating Changes in Qualified Wages

In 2021, the ERC rules underwent modifications. For businesses with 500 or fewer full-time employees, all wages paid to employees were considered 'qualified wages,' whether they provided services or not. The threshold for larger employers increased to 500 full-time employees, expanding the scope of 'qualified wages' eligible for the credit.

Comparing and Contrasting: 2020 vs. 2021 ERC

While both years allowed for the credit's benefits, the distinction in 'qualified wages' eligibility is evident:

  • 2020: Limited 'qualified wages' eligibility for larger employers based on employee service status, suspension, or revenue decline.
  • 2021: Wider scope of 'qualified wages,' benefiting both smaller and larger employers, encouraging financial relief through employee retention.
2020:
  • Credit Percentage: Up to 50% of qualified wages.
  • Maximum Credit: Limited to a maximum credit of $5,000 per employee for the year.
2021:
  • Credit Percentage: Enhanced to up to 70% of qualified wages.
  • Maximum Credit: Expanded to a maximum credit of $21,000 per employee for the year.

Unlock Your ERC Benefits: Schedule a consultation 

Contact Sunrise to navigate the intricacies of qualified wages, ensuring you make the most of the Employee Retention Credit for both 2020 and 2021.

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Got Questions? We Have Answers

Frequently asked questions

Everything you need to know about Sunrise Business Evaluation
Can I claim the ERC if I already received Paycheck Protection Program (PPP) loans?
Yes, you can still claim the ERC even if you received PPP loans. However, the rules and limitations regarding claiming both credits have specific considerations.
Is there a deadline for claiming the ERC for qualified wages?
Yes, and no. The government has extended the window to submit or amend tax reforms but that is subject to change. We recommend you get started now rather than later for a timely submission of your claim.
Can I claim the ERC for wages paid to employees who were furloughed or on leave during the eligible periods?
Yes, the ERC can be claimed for wages paid to furloughed or on-leave employees, provided they meet the qualifying criteria for the specific year (2020 or 2021).
Are there any limits or caps on the amount of qualified wages that can be claimed for the ERC?
Are there any limits or caps on the amount of qualified wages that can be claimed for the ERC?
Can I claim the ERC for wages paid to employees who provided services throughout the entire eligible period?
For the year 2020, eligibility for the credit depended on factors like suspension or revenue decline, which impacted qualified wages. In 2021, eligible employers could claim the credit for all wages paid to employees, regardless of their service status, provided other criteria were met.
What are "qualified wages" for ERC purposes?
Qualified wages are wages paid by eligible employers to their employees during periods affected by COVID-19, which can be used to claim the Employee Retention Credit. The definition and eligibility criteria for qualified wages vary based on the specific year (2020 or 2021).
How do I determine if my business qualifies for the ERC?
We assess your eligibility by evaluating factors such as revenue and operations decline.