SETC & ERTC

What Is The Self Employed Tax Credit (SETC)?

Due to the coronavirus crisis, many self-employed workers, including freelancers, independent contractors, and entrepreneurs, are unable to work. If you are one of them, a new federal law may give you the right to tax credits for the time you cannot work for specific coronavirus-related reasons.

Sick Leave Tax Credit

You can receive a tax credit for up to 10 days total of sick leave. The amount of the credit will depend on your reason for needing leave.

You can receive a credit of 100% of your average daily self-employment income, up to a maximum of $511/day ($5,111 total) for days you can't work because you: 1. have coronavirus symptoms and are seeking a medical diagnosis; 2. are subject to a federal, state, or local quarantine order related to coronavirus (including a shelter-in-place order or other general order to stay at home); or 3. have been advised to self-quarantine by a Doctor.

You can receive a credit of 67% of your average daily self-employment income, up to a maximum of $200/day ($2,000 total) for days you cannot work because you: 1. need to care for your child because your child’s school or childcare has been closed or childcare is unavailable due to coronavirus; or 2. are caring for someone who is subject to a federal, state, or local quarantine or isolation order related to coronavirus, or who has been advised by a health care provider to self quarantine due to concerns related to coronavirus.

Family Leave Tax Credit

You can receive a tax credit for up to 50 days of family leave. You can receive a credit for 67% of your average daily self-employment income, up to a maximum of $200/day ($10,000 total) for days you cannot work because you need to care for your child because your child’s school or childcare has been closed or childcare is unavailable due to coronavirus.

We Can Help You Claim Your Employee Retention Tax Credit

IRS forms are complicated. Submitting incorrect information, filing the wrong paperwork, or not being informed about the most recent regulations could delay the credit you are entitled to receive. We will ensure that your forms are properly completed and filed.

We will follow the progress of your claim with the Internal Revenue Service (IRS) and make certain that it is being reviewed by the proper parties. We have the knowledge and experience to manage and administer your ERTC claim and can help you get your refund in a timely and efficient manner.

Getting Started!