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- Are the 50/50 owners of an S-Corp eligible for the Employee Retention Credit?
Are the 50/50 owners of an S-Corp eligible for the Employee Retention Credit?
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mattgutz
Level 3
11-12-2021
05:26 AM
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I'm not sure this is the right forum, but I am reaching for an answer! I have clients that are 50/50 owners of an S-Corp with wages and have been severely affected by COVID. One of the owners has his daughter working for the company. Since they are not "greater than 50%" I would think they are eligible for the credit. But I have read different opinions. It seems the family attribute parameter is creating a lot of confusion. Can I include them in the credit??
Thanks so much for your help - I have been spinning my wheels on this for a while!
Thanks so much for your help - I have been spinning my wheels on this for a while!
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qbteachmt
Level 15
11-12-2021
11:48 AM
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I found you a great topic which includes the update to the early termination of this provision, a table that explains attribution, and even a calculator spreadsheet that allows you to keep a copy locally:
https://molentax.com/employee-retention-credit/
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"Level Up" is a gaming function, not a real life function.
"Level Up" is a gaming function, not a real life function.
