What Is the Employee Retention Credit? A Small Business Guide

what is the employee retention credit

Do you want to know what is the employee retention credit and how it can help your small business? Just like you, several different small companies felt the heat of the pandemic. It caused many companies to close down and lose out on the revenue they needed to stay afloat. Insert in the employee retention […]

The Property Owner’s Guide to the CARES Act

cares act for property owners

As the pandemic continues to grip the US and you hear startling statistics related to death toll and unemployment, one lesser addressed issue is how the pandemic impacted housing across the country. Whether you’re a property owner or a renter, much hardship was faced as a result of the pandemic. Some estimates have 30 to […]

The CARES Act 401k Withdrawal Complete Guide

cares act 401k withdrawal

The pandemic threw many Americans and businesses for a loop, and many people struggled to stay on top of their bills and business expenses. The number of active business owners plummeted by three million from February to April 2020. To provide people with additional financial options, the federal government approved the CARES Act, which included […]

The Restaurant Owners Guide to the CARES Act

Restaurant Owners Guide to the CARES Act

When COVID-19 assaulted the world, only 32% of food and accommodation services in the U.S. continued paying employees. Of those, 36% have a grant or loan, and 20% receive no help. Only 5% of businesses in the industry feel no impact on their business. Enter the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Four […]

PPP Loans vs. Employee Retention Credits

employee retention credits

As of December 2020, there were 11,475,003 Paycheck Protection Program (PPP) loans, with the average loan being $69,087.  In addition to the PPP, businesses have the opportunity to take advantage of employee retention credits. This is a special credit for helping businesses maintain workers during COVID-19. Surprisingly, only eight percent of business owners took advantage of […]

The Non-Refundable Portion of the Employee Retention Credit Explained

Employee Retention Credit ERC

The benefits of the Employee Retention Credit (ERC) include being able to take a 70% tax credit. The credit covers up to $10,000 per employee for wages paid during each quarter of 2021. This COVID-19 relief package from the federal government is both a blessing and a curse. As if dealing with the government and IRS […]

Employee Retention Credit: 10 Common Misunderstandings of Startups

employee retention credit

Even with Covid-19 running rampant, 4.4 million new companies began operations in 2020. That same year, 77% of startup founders said they were facing failure due to the pandemic. Small businesses in the U.S. employ 47.3% of the private workforce. Before Covid, about 37% of startups opening between 2000 and 2020 went out of business. […]

Employee Retention Credit: 5 FAQs You Need to Know

employee retention credit faq

There were 18.1 million people unemployed during COVID-19. Sixty-three percent of those couldn’t work due to their employer closing or experiencing a decline in business. The survival of many jobs and businesses is due to the employer taking advantage of the Employee Retention Credit (ERC). If you are a business receiving this credit, you may […]

The Employee Retention Tax Credit Can be Filed in 2022 for 2021 & 2020

employee retention tax credit

Government regulations can be confusing and intimidating, especially with constantly changing rules and deadlines. This is what is happening with the Employee Retention Tax Credit (ERTC). The ERTC retroactive period’s original deadline of January 1, 2022, changed to October 1, 2021. There are also qualification changes. Despite the benefits to your business, the National Federation […]

The Small Business Guide to the Employee Retention Tax Credit

Employee Retention Tax Credit

The plan sounds almost too good to be true—keep your employees on your payroll and receive a 50% to 70% payroll tax credit from the federal government. The Employee Retention Credit (ERC) is real and allows businesses to receive a refundable credit for payroll taxes they collect from qualified employees between March 13-October 1, 2021. […]