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Employee Retention Tax Credit for Fitness Centers

Employee Retention Tax Credit for Fitness Centers

HEALTH AND WELLNESS CENTERS

Decline in Revenue and Government Shutdown leads to ERTC Eligibility

Clarus has been invaluable in helping us claim our tax credits during this diffi cult time. The process was so easy and the team was exceptional. Thanks to Clarus, the entire process of claiming the Employee Retention Tax Credit was simple and effortless.

Gym Owner in Ohio

The Challenge

Lost Revenue due to Government Shutdown

A private health and wellness gym was negatively impacted by COVID-19. Due to government mandated shutdowns and a decline in revenue, the gym qualified for the Employee Retention Tax Credit (ERTC).

The Problem

Confusion around eligibility and PPP loan forgiveness

As the COVID-19 crisis evolved, rule changes in the ERTC program and the required coordination with PPP loan forgiveness made it unclear whether the gym qualified for the ERTC, for what period of time they qualified, and whether claiming it would negatively impact their PPP loan forgiveness.

The Solution

Clarus Identifies Eligibility due to the Impact of COVID-19

AĈer talking with the tax experts at Clarus, the gym discovered they were eligible for the ERTC. In total, the gym claimed $400K in PPP loans and $240K in ERTC for the 2nd and 3rd quarters of 2020 and the 1st Quarter of 2021.

ERTC Claimed

Download the case study PDF to share with your team

Download the case study PDF to share with your team

ERTC Timeline

$400K

PPP Loans

+

$100K

ERTC 2020

+

$140K

ERTC 2021

=

$640K

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