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 offers a tax credit to certified employers. There are some distinctions in how your credit is calculated based on your company’ number of workers. You can declare 50% of these wages per employee– a credit of $5,000/ worker. Thirty employees are not working however are still getting pay, and each staff member is earning $5,000 during this duration. Companies can declare both the ERTC and FFCRA tax credits for qualified employees.

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