Case Study I

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Client I, a gym, is entitled to a $77,097.57 refund check for the Employee Retention Credit. This business was negatively impacted during COVID-19. Because this business began operations after February 15, 2020, and its annual gross receipts did not exceed $1 million, it qualifies as a recovery start-up business under the Employee Retention Credit Program. 

We ran an Employee Retention Credit Service on earnings paid to full-time employees in Q3 and Q4 2021 to determine if any of the salaries were eligible for the employee retention credit. Because these wages would not qualify, we took into account any Payroll Protection Program loans and forgiveness over the time period. Client I is eligible for a $77,097.57 reimbursement check for the employee retention credit.