Grab a cup of coffee and join Cole Marr, SSF’s R&D Tax Director, as he gives a 30-minute rundown of the Employee Retention Tax Credit.
The Employee Retention Credit is meant to reward employers that kept employees on their payroll during the COVID-19 impacted months in 2020. Eligible employers could take 50% of up to $10,000 in qualified wages paid to an employee. Recent legislation makes this credit available even if you received a PPP loan and has extended the opportunity into Q1 & Q2 of 2021! While not everyone may qualify for this credit, those that do will benefit greatly!
- The basics about the Employee Retention Tax Credit
- Who is eligible for this federal tax credit
- How to take next steps to take advantage of the credit