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Get up to $7,000 per employee per quarter for simply keeping them on your payroll.
The Employee Retention Tax Credit is one of the most powerful tax credits ever. This benefit is fully refundable – meaning the IRS will cut you a check even if you paid less in taxes than your tax credit. Fill out your email below to learn how businesses are using this benefit to reinvest for growth.
Trusted for ERTC consulting by over 100+ amazing organizations.
Our happy clients!
Why choose Parachor for Employee Retention Credit consulting?
At Parachor Consulting, we employ a team of CPAs, attorneys, engineers, and statisticians to provide unparalleled specialty tax services. Our custom tailored process to each individual business is targeted towards delivering the maximum tax benefit legally possible.
- Maximize your benefit
- Reduce audit risk
- Free audit defense
- Straightforward process
We make the ERTC tax credit simple.
Uche & Chris here...
We take our 15+ combined years of experience in tax consulting services to the table with each and every client. Working for large consulting firms helped us learn the best processes, but also showed us there’s often a lot left on the table when it comes to tax credits. We bring large firm experience and give you the small firm care and service you deserve. We work with our clients directly, ensuring that stat sampling projects is faster, substantiation is better, and your risk of audit is lower.
Working with Parachor
- Audit Defense
- Quick & Easy Processes
- Work 1 on 1 With the Owners
- Comprehensive Documentation
- We are Passionate About Our Clients
Other tax consulting services
- Audit “Support”
- Complicated & Time Consuming
- Outsourced Services
- Little to No Documentation
- You're Just a Number
Client case studies
Location: California
Employees: 28
Entity Type: S-Corp
Activities:
Developing unique energy efficient features, performing structural engineering for projects with complex topography, and performing civil engineering modeling to create drainage plans.
Revenue: $ 2,300,000.00
Refund Amount: $ 280,000.00
Location: Texas
Employees: 14
Entity Type: S-Corp
Activities:
Design and testing of new products for horizontal drilling and fracing operations.
Revenue: $ 1,900,000.00
Refund Amount: $ 54,000.00
Location: Wisconsin
Employees: 19
Entity Type: S-Corp
Activities:
Performing drainage studies to remove stormwater from project sites, designing and developing of mid-size housing subdivisions, and engineering modeling of environmental impacts of housing developments.
Revenue: $ 2,000,000.00
Refund Amount: $ 40,000.00
Location: Wisconsin
Employees: 26
Entity Type: C-Corp
Activities:
Developing unique energy efficient features, developing schematic designs, and designing site orientations.
Revenue: $ 750,000.00
Refund Amount: $ 91,000.00
Our simple Employee
Retention Tax Credit process
1. Value Identification
Let's get started! Parachor will conduct an assessment of your company activities and finances. Once complete, Parachor will deliver a no-obligation estimate of the tax benefit.
2. Benefit Delivery
Time to get technical. Parachor will gather and analyze additional information relating to the qualified work. Parachor will calculate the specific benefit amount, and conduct a thorough financial and legal review before delivering your numbers.
3. Substantiation Report
How did we do it? Parachor will draft a comprehensive report following IRS directives to substantiate the work completed to calculate the benefit.
Employee Retention
Tax Credit FAQs
1. Your trade or business was fully or partially suspended or had to reduce business hours due to a government order. The credit applies for the portion of the quarter the business is suspended, not the entire quarter.
2. Your trade or business had a significant decline in gross receipts.
2020: if gross receipts in a calendar quarter are below 50% of gross receipts when compared to the same calendar quarter in 2019, your business will qualify.
2021: if gross receipts in a calendar quarter are below 20% of gross receipts when compared to the same calendar quarter in 2019, your business will qualify.
3. Recovery Startup Business: if your business started after February 15th, 2020, had annual gross receipts that are less than $1 million
The wages of any majority owner (greater than 50% ownership) do not qualify for the ERTC. Additionally, any related individual’s wages with the following relationships do not qualify for the ERTC:
- A child or a descendant of a child.
- A brother, sister, stepbrother, or stepsister.
- The father or mother, or an ancestor of either.
- A stepfather or stepmother.
- A niece or nephew.
- An aunt or uncle.
- A son-in-law, daughter-in-law, father-in-law, mother-in-law, brother-in-law, or
sister-in-law. - An individual (other than a spouse, determined without regard to section 7703 ,
of the taxpayer) who, for the taxable year of the taxpayer, has the same
principal place of abode as the taxpayer and is a member of the taxpayer’s
household.