Solutions
Tax Credit Services
There's still time to claim the COVID-19 Employee Retention Tax Credit! Find out if your business is eligible to receive up to $26,000 per eligible employee.
Employee Retention Tax Credit (ERTC)
Claiming the Employee Retention Tax Credit (ERTC) can save you thousands of dollars. PayBridge can help simplify the complex paperwork required to determine your credit amount and file amended 941s. Let us take care of the hassle while YOU claim the rewards.
The ERTC is a payroll tax credit that can potentially eliminate your business's payroll tax or generate a cash refund. For most businesses this is one of the largest federal incentives available. Eligible businesses can file retroactive claims for wages paid in prior tax quarters.
The ERTC is complex, and most clients do not fully understand eligibility and the nuances to maximize the credits. We work alongside our partners — tax credit industry veterans with over 40 years of experience — who specialize in identifying and processing federal and state credits for employers across the United States.
How Much Can You Expect to Receive?
2020 ERTC
50% of up to $10,000 in wages paid per employee (3/12/20–12/31/20)
Up to $5,000 per employee
2021 ERTC
70% of up to $10,000 in wages per employee per quarter (Q1–Q3 2021)
Up to $21,000 per employee
$26,000
total potential credit per eligible employee
ERTC Eligibility
Eligibility for the ERTC is evaluated on a quarterly basis based on an employer's specific circumstances. An employer is eligible if they experienced either:
Government-Ordered Suspension
A full or partial suspension of business operations due to orders from an appropriate governmental authority limiting commerce, travel or group meetings due to COVID-19.
Significant Decline in Gross Receipts
50% decline in gross receipts in 2020 compared to the same quarter in 2019; or 20% decline in gross receipts in 2021 compared to the same quarter in 2019.
Common Eligibility Questions
We took the PPP — are we still eligible?
Yes — contact us to review your eligibility.
We are an essential business — are we eligible?
Yes — contact us to review your eligibility.
We did not shut down our offices — are we eligible?
Yes — contact us to review your eligibility.
Our operations were suspended, but we were profitable — are we eligible?
Yes — contact us to review your eligibility.
We are a non-profit — are we eligible?
Yes — contact us to review your eligibility.
Work Opportunity Tax Credit (WOTC) Program
The WOTC Program was introduced to incentivize businesses to employ applicants who fall into designated target groups. Companies may be eligible to receive $1,200 to $9,600 per eligible employee per year upon hiring.
On average, 20% of new hires qualify your business for work opportunity tax credits. The WOTC Program can be easy to overlook, but it's probable that you're already hiring team members who meet the criteria.
$9,600
maximum credit per eligible employee
20% of new hires on average qualify
Eligible Target Groups:
Qualified Veterans
A member of a family that is a Qualified Food Stamp Recipient
A member of a family that is a Qualified SNAP Benefits Recipient
Qualified Ex-Felons, Pardoned, Paroled or Work Release Individuals
Vocational Rehabilitation Referrals
Qualified Summer Youths
Qualified Supplemental Security Income (SSI) Recipients
Qualified Individuals living within an Empowerment Zone or Enterprise Community
A member of a family that is a Qualified TANF Recipient
Qualified Long-Term Unemployment Recipients
Federal Incentives
The U.S. Government has created a range of incentive programs to encourage small businesses to participate in capital investment, create growth in business sectors, provide jobs in depressed areas and hire individuals who face barriers to employment.
State Incentives
There are also over 3,000 state and local tax credits available. These include credits to incentivize economic development, geographic- and hiring-based incentives, research and development credits, investment tax credits, training and retraining credits, discretionary grants, utility rebates and property tax abatements.
3,000+
state and local tax credits available
By working with Synergi Partners, we help determine whether your organization meets the criteria for various tax credits.
We'd love to help!
Get in touch — we'll show you the software and discuss the ways we can help improve your organization's payroll and HCM services.