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

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The Employee Retention Tax Credit(ERTC)is a provision in the CARES Act that supplies a tax credit to certified employers. There are some distinctions in how your credit is computed based on your business’ number of workers. You can claim 50% of these salaries per worker– a credit of $5,000/ worker. Thirty employees are not working however are still receiving pay, and each worker is earning $5,000 during this period. Companies can declare both the ERTC and FFCRA tax credits for qualified workers.

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