fbpx
.st0{fill:#FFFFFF;}

Employee Retention Credit for Sole Proprietorships 

 October 9, 2023

By  Jace W Campbell, CPA

Employee Retention Credit for Sole Proprietorships

Let’s begin by addressing a crucial query that many business owners might have: “What is the Employee Retention Tax Credit (ERTC)?” Simply put, this is a tax relief program that was designed to help businesses retain employees during the economic disruptions caused by COVID-19. However, it’s worth noting that a thorough understanding of this program can be quite complex due to its many intricacies. To save you from plowing through pages of dull and tedious text, I’ll do my best to break this down… in a manner that offers just enough detail for you to grasp its essential aspects.

Inevitably, the complexity of this program raises another important question: “How does one qualify for the ERTC?Eligibility for these tax credits spans almost all types of businesses and non-profit organizations in the US. Key requirements include having W-2 employees on payroll during the pandemic period and paying payroll taxes on those employees. Therefore, it’s important to note… even as we explore employee retention credit for sole proprietors, underrulestanding these eligibility rules is fundamental to your successful claim.

Common Deceptions Regarding ERTC

Now that we’ve got a handle on what ERTC entails and who qualifies, let’s delve into some common deceptions associated with it. Some firms might try to entice you with false promises about securing these credits. But remember… ultimately, you’re responsible for your tax credit claims, regardless of any ‘expert’ advice you may receive. Whether you’re doing some online research or are a CPA trying to serve your clients ethically, always bear in mind – knowledge is power.

Why Consider JWC ERTC Advisory CPA?

Herein lies an opportunity for businesses looking for guidance through these tricky waters – JWC ERTC Advisory CPA. Why consider us, you might ask? As we have noted, the ERTC process can be rife with uncertainty and fears due to its complex nature. Working with our team not only mitigates these concerns but also brings potential gain from maximized tax credit claims. Additionally, for those who’ve previously filed for ERTC but have lingering doubts about their eligibility, we offer independent reviews.

Read more: How to Record Employee Retention Credit in QuickBooks?

Curbing ERTC Fraud

Lastly, it’s essential to mention the recent crackdown by the IRS on ERC promoters in an attempt to curb ERTC fraud. While this might induce further anxiety about filing for these credits, engaging with a credible firm like JWC ERTC Advisory CPA can offer reassurance and guidance through a legitimate process.In conclusion… understanding the ERTC is not just about answering your primary question of employee retention credit for sole proprietors, but also gaining broader knowledge on related topics. This empowers you to make informed decisions regarding your tax credit claims – whether you’re exploring this topic further or considering engaging with JWC ERTC Advisory CPA.

Jace W Campbell, CPA


Jace founded JWC ERTC Advisory CPA in March 2021 as the nation's first and only public accounting firm focused solely on ERC . . . and nothing else. He has personally signed over 9,000 ERTC claims and is proud to be executing these claims conservatively, and how intended by Congress.

He has a passion for educating clients so they can make the best decision for themselves.  If you read articles and watch videos that Jace produced in 2021, his approach is the same now as it was then.

While other firms pivot their messaging to comply with new IRS guidance, Jace continues preaching the same conservative principles that have helped clients recover hundreds of millions . . . while sleeping easy at night.

related posts:


Can You Claim Employee Retention Credit in 2023?


Can You Claim the Employee Retention Credit in 2022?


Employee Retention Credit Scams: What You Need to Know

Easy to Start. Even Easier to Finish.

The tax code is complicated enough for CPA's - no need to complicate this process for you as well. That's why we've created The 15 Minute Refund™.

Simply register here and we'll provide your team access to your online portal where documents can be uploaded.

We're not kidding when we say this will take less than 15 minutes of your time.

We'll get you all the deets and the engagement letter to your inbox so we can start immediately.

Register Now