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Hi, I’m Judi Otton with GrowthCast, and I’m back with your Fiscal Fitness Tip of the Week. By now, I’m sure you’ve all heard of the PPP You’ve probably heard of the EIDL, but have you heard of the ERTC? The employee retention tax credit? If you’re a business that was hit hard by the pandemic, you need to look into this. So what is it? It’s a refundable tax credit based on how many employees you have that can be used to offset your payroll taxes. And again because it’s refundable. You can get this money back. There are some catches. First of all, you need to show, as I mentioned, that you’ve been hit hard by the pandemic, and you can show that in two ways. One, If you’ve been closed by government orders like restaurants and gyms in many states, this applies to you. Two, you can show that you’ve had a decline in revenue for 2020. That decline in revenue needs to be 50% for any quarter in 2020 as compared to the same quarter in 2019, but in 2021 you only need to show a 20% decline in revenue for the quarter in 2021 as compared to 2019. 2019 is the reference point. Now, what is this worth to you? The reason that I’m bringing this up is that this is potentially big money. For 2020 you are eligible for up to, and there are some catches here, up to $5000 per employee. So if you have 10 employees, that’s $50,000. It gets better in 2021 you’re you may be eligible for up to $7000 per employee per quarter. So for 2021 that could be up to $70,000 per quarter. If you have those same 10 employees. Yeah, it gets a little bit tricky. In conjunction with the PPP. You can’t use the same wages for P P P wages, as you’re using for your E R T C wages. So you may need to get a little bit more strategic with your PPP forgiveness than you thought you would. I get that this is a lot. This is very complicated. There’s a lot of information here. If you have any questions at all? Please reach out to me. My websites here, you can reach out to me. I’m linked in. I also have a one sheeter so if you would like this in compressed form again, reach out. And I’m happy to email that to you. I’m, Judi Otton. with GrowthCast here with your fiscal fitness tip of the week and I’ll be back next week. Bye.