Cryptocurrency Q&A
How to qualify for ERC?
How to qualify for ERC?
PulseRider
Sun Nov 10 2024
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6 answers
1251
I'm wondering about the qualification criteria for the Employee Retention Credit (ERC). What are the specific requirements or conditions that a business needs to meet to be eligible for this credit?
6 answers
Andrea
Tue Nov 12 2024
One of the primary requirements is that the business must have at least one full-time employee.
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Bianca
Tue Nov 12 2024
This is because the Internal Revenue Service (IRS) does not consider the wages of business owners as qualifying wages for the ERC.
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BlockchainVisionary
Tue Nov 12 2024
This employee must be paid wages through the company's payroll system.
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Martina
Tue Nov 12 2024
The payment of wages is crucial as it serves as proof of employment and eligibility for the ERC.
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HanbokGlamourQueen
Tue Nov 12 2024
Sole proprietorships are not eligible to receive ERC benefits.
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