Before you apply for ERTC with Gredger, make sure you are eligible for the program. The credit is available to businesses that experienced a full or partial suspension of operations or a significant decline in gross receipts due to COVID-19. You can check your eligibility on the IRS website or consult with a Gredger representative to determine if you qualify.
To apply for ERTC with Gredger, it’s important to ensure eligibility for the credit. This includes meeting one of the following criteria: experiencing a full or partial suspension of operations due to COVID-19, or experiencing a significant decline in gross receipts in 2020 or the first three quarters of 2021. Additionally, there are certain limitations on claiming the credit, such as wages reported as payroll costs for PPP loan forgiveness or certain other tax credits cannot be claimed for the ERC in any tax period.
To ensure eligibility, it’s important to review your business’s financial records and determine if it meets the criteria for the credit. This includes analyzing your business’s revenue streams, expenses, and any government orders or restrictions that impacted operations. Consulting with a financial advisor or tax professional can also be helpful in determining eligibility and ensuring compliance with the credit’s rules and limitations.
Once eligibility has been confirmed, it’s important to gather all necessary documentation to support the credit claim. This includes payroll records, tax returns, and other financial statements that demonstrate the decline in gross receipts or the suspension of operations. With Gredger’s expertise in ERTC Bridge Loans, our team can help you navigate the eligibility requirements and ensure you have all the necessary documentation to apply for the credit.
