Consulting for and Preparation of Form 7200, The Employee Retention Credit
Accounting Solutions Ltd. can take your company through the process of claiming the Employer Retention Credit (ERC) on your payroll.
This refundable credit in 2021 is up to $7,000 per covered employee per quarter. If you have twenty employees your potential payment is $140,000 per quarter or an additional $560,000 per per year.
Given the fact that you cannot claim this credit on the same payroll used for PPP Loan Forgiveness, our program includes consulting services to exclude the payroll necessary for PPP Loan Forgiveness ensuring the maximum possible benefit.
Our intention is to create a system of credits beginning on any available payroll in 2020 going through the four quarters of 2021.
– Gathering initial information and collecting documents
– Making sure that an entity qualifies for the credit
– Getting information on PPP Loan disbursements
– Putting together a plan encompassing all of the potential Employer Retention Credits from the beginning of the pandemic to the end of 2021
We will provide continuing consultation and support through the entire period
Phase Two: Preparation
– Completion of the Form 941 or 941 X, as is necessary, given your particular needs
– Completion of all necessary worksheets including Worksheet 1. Credit for Qualified Sick Leave and Family Leave Wages and the Employee Retention Credit
– Completion of Form 7200 Advance Payment of Employer Credits Due to Covid – 19
We will provide all of the necessary forms and back up materials.
– Monitoring the process to make sure everything goes well]
– In any cases where we do not receive the desired outcome, one set of amended forms will be completed at no additional charge
We are your complete solutions from beginning to end.
Fee Schedule Per Quarter:
A 50% deposit is required on all packages.
Fee Schedule Per Quarter
| # of Covered Employees | Cost |
|---|---|
| 1 | $500 |
| 2 | $750 |
| 3 | $1,000 |
| 4 | $1,250 |
| 5 | $1,500 |
| 6 | $1,700 |
| 7 | $1,900 |
| 8 | $2,100 |
| 9 | $2,300 |
| 10 | $2,500 |
| 11 | $2,650 |
| 12 | $2,800 |
| 13 | $2,900 |
| 14 | $3,100 |
| 15 | $3,250 |
| 16 | $3,400 |
| 17 | $3,550 |
| 18 | $3,700 |
| 19 | $3,850 |
| 20 | $4,000 |
Over 20 covered employees, the cost is $4,000 plus $100 for each additional employee.
