The software makes it easy to understand how much your business would save based on certain factors, and can help you make the best decision about which option is best for you. It also gives you more control over the process, instead of having to rely on advice from others. The ERTC calculator is also an excellent way to ensure that you aren’t overpaying or missing out on any benefits that you may be eligible for.

Using the ERTC Calculator is easy and free. Simply fill out the form with your company information and the program will do the rest. The program will calculate your ERTC eligibility and the maximum credit amount you can receive, as well as provide you with detailed step-by-step instructions on how to claim your ERTC. It will also show you what percentage of the credit is available to your business based on your specific circumstances.

The ERTC is an employer payroll tax credit that allows employers to pay up to 70% of their employees’ wages in the form of a credit against employment taxes they owe. It is only available to employers that are considered “eligible” — those that meet the financial setback requirements and have at least 500 full-time employees. The ERTC is calculated as an offset to the employer’s employment tax liability on a quarterly basis. During the pandemic, many employees have been working without compensation or with reduced pay. This credit is designed to help ease the economic impact of those reductions by allowing employers to continue paying employees at pre-pandemic rates.

In order to claim the ERTC, employers must ERC Calculator first determine if they are eligible for the credit and then calculate the qualified wages of their workers. The qualified wages are the employee’s total earnings during a quarter – including the cost of any employer-sponsored group health plans that are properly deducted from the worker’s pay. The ERTC is then determined by multiplying the qualified wages by 70%. The credit is then reported on Form 941 for the applicable quarter and applied as a credit against the employer’s employment tax liability.

It is important to note that the ERTC does not replace any other credits or relief options. Applicants are encouraged to consider the other options, such as the Small Business Interruption Loan and the 

Paycheck

Protection Program, before applying for the ERTC. In addition, the ERTC does not cover any amounts that are paid to an independent contractor or to an owner of a leased, licensed or franchised business