Coronavirus Tax Credits: What You Should Know About Employer Retention & Families First Credits

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The Employee Retention Tax Credit(ERTC)is an arrangement in the CARES Act that provides a tax credit to certified employers. You can claim 50% of these salaries per employee– a credit of $5,000/ staff member. Thirty workers are not working however are still getting pay, and each worker is making $5,000 throughout this duration.

The Employee Retention Tax Credit(ERTC)is a provision in the CARES Act that provides a tax credit to qualified employers. There are some distinctions in how your credit is calculated based on your company’ number of workers. You can claim 50% of these earnings per employee– a credit of $5,000/ staff member. Thirty staff members are not working however are still receiving pay, and each staff member is making $5,000 throughout this duration. Employers can claim both the ERTC and FFCRA tax credits for eligible staff members.

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