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 supplies a tax credit to certified companies. There are some distinctions in how your credit is computed based on your service’ number of workers. You can claim 50% of these incomes per staff member– a credit of $5,000/ staff member. Thirty workers are not working however are still receiving pay, and each staff member is earning $5,000 throughout this duration. Employers can claim both the ERTC and FFCRA tax credits for qualified staff members.

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