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

thumbnail

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

The Employee Retention Tax Credit(ERTC)is an arrangement in the CARES Act that provides a tax credit to qualified companies. You can declare 50% of these earnings per worker– a credit of $5,000/ employee. Thirty employees are not working however are still getting pay, and each employee is earning $5,000 throughout this duration.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back To Top