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


The Employee Retention Tax Credit(ERTC)is a provision in the CARES Act that provides a tax credit to qualified companies. There are some distinctions in how your credit is computed based on your organisation’ number of employees. You can declare 50% of these salaries per employee– a credit of $5,000/ worker. Thirty employees are not working but are still receiving pay, and each worker is earning $5,000 during this duration. Employers can claim both the ERTC and FFCRA tax credits for qualified staff members.

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