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  • The business' 2020 and 2021 gross receipts were not lower than 2019. I heard that I cannot qualify for the ERTC because of this.
    That was true when the law was first enacted, however, now there are additional criteria which can be used to qualify business' who did not have a decrease in gross receipts.
  • I was told that if I received the PPP loans, that I did not qualify for the ERTC.
    Again, when the law was first enacted, business' that had gotten PPP loans did not qualify for the ERTC program. Subsequent changes to the law now allows those that got PPP loans to potentially get ERTC funds as long as the PPP have been subtracted out.
  • My business received the PPP loans. In order to have them forgiven, the government designated how the funds should be used. Does the ERTC work the same way?
    Not at all. The ERTC funds are a grant that does not have to be repaid. Further, there are no regulations has to how the funds may be used. Water Street Advisors will perform an analysis to determine if a business qualifies for the ERTC credit and the amount it may expect to qualify for, ALL FREE OF CHARGE. If you decide that this program is not for you, you will not be billed for any service performed by us
  • How does a PPP loan affect my ability to receive the ERTC?
    Companies can apply for both an ERTC and a PPP loan retrospectively. Any salaries used to pardon the PPP, on the other hand, are ineligible to be claimed for the ERTC.
  • What is the max credit my small business could receive if I qualify for the ERTC?
    In 2021, an eligible small firm with 500 employees might get up to $10.5 million in tax credits.

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