Thomas Doll has created an Employee Retention Calculation and PPP forgiveness application program.
If you’d like us to complete the Employee Retention Calculation and/or prepare your PPP forgiveness application, please complete the online questionnaire using the following link: https://form.jotform.com/Thomas_Doll/ERC
The sign-up process will take 10 to 15 minutes to complete. Please make sure you have the time to complete it in one sitting as you cannot save your answers. Please complete the answers to the best of your knowledge.
A few important things to note:
- Most 2020 tax returns are on extension until your Employee Retention Credit is calculated. If not on extension, an amended tax return may be needed to claim the credit.
- The Employee Retention Credit is a credit of up to $5,000 per employee if conditions are met. For clients that qualify, we expect most practices will be eligible for a credit between $25,000 to $45,000.
- The Employee Retention Credit needs to factor in your first PPP loan. As such, we will complete your PPP forgiveness application in conjunction with the Employee Retention Credit calculation. We must be cautious when calculating the Employee Retention Credit, especially if you have already received PPP forgiveness.
- The completion of this project is time intensive and outside of the scope of our regular accounting services. As such, a separate engagement letter needs to be executed.
- If we can identify in the early stages that you will not qualify for the credit, the fee will be minimal. The full fee will only be realized for clients that obtain a tax credit.
- We will serve clients on a first come first serve basis.
Please let us know if you have any questions.