Benefits Made Simple
Virtus Labs stands at the forefront of financial consulting, offering unique solutions like the SETC and CHAMP Plan™ to empower both individuals and organizations.
PARTNERS:
What is the CHAMP Plan™?
CHAMP Plan™ is a Section 125 Cafeteria Plan that is voluntary and self-funded. The employee pays for the plan using pre-taxed dollars and is compensated with a post-tax claim benefit for participating in the Champion Health App once a month.
Just enter the amount of employees your business employs
See what you would save with Champ Health
Just enter the amount of employees your business employs
See what you would save with Champion Health
Champion Health Savings Calculator
Estimate your potential savings by switching to Champion Health.
* This is an estimate based on average savings. Actual savings may vary.
Get Started Today!Get compensated for losses due to COVID-19
More than 47,000,000 Americans qualify for the SETC.
The SETC is a specialized tax credit designed to provide support to self-employed individuals that were affected by the COVID-19 pandemic. You may be eligible for up to $32,220 in tax credits. This is not a loan and is non-taxable income.
VLabs Team
David Shinkel
Austin Howard
Sean Kelly
Justin Kimbrough
David Shinkel
Austin Howard
Sean Kelly
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Get up to $64,440 with the Self-Employed Tax Credit (SETC)
MORE THAN 47 Million Americans qualify for the SETC Tax Credit but LESS THAN 10% of people have heard about it.
Were you self employed during 2020/2021?
You can qualify for up to $32,220 with the SETC Tax Credit!
The SETC tax credit was designed to support self-employed individuals who were affected by COVID-19.
It is part of the COVID-relief package of 2021, under the FFCRA (Families FIrst Coronavirus Relief Act)
It is NOT a loan, and is not taxed
It takes 5 minutes to check if you qualify
There are TWO Eligibility Criteria
1. Were you self-employed during COVID?
This could be a single-memeber LLC, a sole-proprietorship, 1099 subcontractor etc. As long as you filed a Schedule C for 2020 and/or 2021 you are considered self-employed.
2. Did COVID impact your ability to work?
Whether you took time off because you had COVID or COVID like symptoms, underwent testing, were in quarantine, were in lockdown, or had to care for a sick child, elder, spouse etc.
If you answered YES to both questions above,
then you most likely qualify for the SETC tax credit, and can get up to $32,220!And if you and your spouse file jointly, you two can earn up to $64,440 from the SETC!
Who is considered self-employed?
You are considered self-employed if you’re a: Sole proprietor, 1099 subcontractor, single-member LLC, freelancer, independent contractor, gig worker etc.
Can I claim SETC as a W2?
No, the SETC does not apply to W2 employees or employers with W2s but you should check out CHAMP Plan™ if you employ W2 employees!
What tax documents do I have to upload?
You need to provide your unaltered tax returns for 2020 and 2021, with the option of 2019 as well.
Is SETC a loan or a grant?
The SETC is not a loan or grant, it's a tax refund. You don't pay it back and you don't pay taxes on it.
How much can I expect to get from the SETC
We see an average funding of around $17k out of the maximum $32,220. This amount really depends on your income level as well as how many days the pandemic impacted your work. People with dependents also get more on average.
How will I get this money?
It depends. If you are up to date on your taxes you will receive a check or wire transfer from the IRS. If you owe taxes however then this credit will be a reduction of the outstanding tax liabilities owed to the IRS.
Can I claim the SETC retroactively?
Yes, we can help you file an amended tax return and necessary forms to claim the Self Employment Sick or Family leave credit for 2020 & 2021.
Ready to get started? Schedule now!
Get up to $64,440 with the Self-Employed Tax Credit (SETC)
MORE THAN 47 Million Americans qualify for the SETC Tax Credit but LESS THAN 10% of people have heard about it.
Were you self employed during 2020/2021?
You can qualify for up to $32,220 with the SETC Tax Credit!
The SETC tax credit was designed to support self-employed individuals who were affected by COVID-19.
It is part of the COVID-relief package of 2021, under the FFCRA (Families FIrst Coronavirus Relief Act)
It is NOT a loan, and is not taxed
It takes 5 minutes to check if you qualify
There are TWO Eligibility Criteria
1. Were you self-employed during COVID?
This could be a single-memeber LLC, a sole-proprietorship, 1099 subcontractor etc. As long as you filed a Schedule C for 2020 and/or 2021 you are considered self-employed.
2. Did COVID impact your ability to work?
Whether you took time off because you had COVID or COVID like symptoms, underwent testing, were in quarantine, were in lockdown, or had to care for a sick child, elder, spouse etc.
If you answered YES to both questions above,
then you most likely qualify for the SETC tax credit, and can get up to $32,220!And if you and your spouse file jointly, you two can earn up to $64,440 from the SETC!
Who is considered self-employed?
You are considered self-employed if you’re a: Sole proprietor, 1099 subcontractor, single-member LLC, freelancer, independent contractor, gig worker etc.
Can I claim SETC as a W2?
No, the SETC does not apply to W2 employees or employers with W2s but you should check out CHAMP Plan™ if you employ W2 employees!
What tax documents do I have to upload?
You need to provide your unaltered tax returns for 2020 and 2021, with the option of 2019 as well.
Is SETC a loan or a grant?
The SETC is not a loan or grant, it's a tax refund. You don't pay it back and you don't pay taxes on it.
How much can I expect to get from the SETC
We see an average funding of around $17k out of the maximum $32,220. This amount really depends on your income level as well as how many days the pandemic impacted your work. People with dependents also get more on average.
How will I get this money?
It depends. If you are up to date on your taxes you will receive a check or wire transfer from the IRS. If you owe taxes however then this credit will be a reduction of the outstanding tax liabilities owed to the IRS.
Can I claim the SETC retroactively?
Yes, we can help you file an amended tax return and necessary forms to claim the Self Employment Sick or Family leave credit for 2020 & 2021.
Ready to get started? Schedule now!
Get Started in less than 5 minutes with SETC
If you were self-employed in 2020 and/or 2021, you could potentially qualify for the SETC earning up to $32,220.
This includes sole proprietors who run businesses with employees, 1099 subcontractors, and single-member LLCs. If you filed a “Schedule C” on your federal tax returns for 2020 and/or 2021, you're on the right track.
Calculate your savings with Champion Health
CHAMP Plan™ is a proactive approach to healthcare and doesn’t interfere with or replace any existing health plans.
It provides the company a fixed savings of $573.60 per employee & provides the employee an increase in their net take home pay of around $1,500 per year along with $0 co-pay/deductible in-person benefits + virtual care for the entire family.
Get Started in less than 5 minutes with SETC
If you were self-employed in 2020 and/or 2021, you could potentially qualify for the SETC earning up to $32,220.
This includes sole proprietors who run businesses with employees, 1099 subcontractors, and single-member LLCs. If you filed a “Schedule C” on your federal tax returns for 2020 and/or 2021, you're on the right track.
Calculate how much you can save with Champ Health
CHAMP Plan is a proactive approach to healthcare and doesn’t interfere with or replace any existing health plans.
Provides the company a fixed savings of $573.60 per employee Provides the employee an increase in their net take home pay of around $1,500 per yearProvides the employee $0 co-pay/deductible in-person benefits + virtual care for the entire family
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