10 Dec 2022
If your small business kept employees on the payroll through the pandemic, you may be eligible for the Employee Retention Credit (ERTC). Launched in the early days of the COVID-19 pandemic as part of the CARES Act relief package, it was intended to provide extra incentive for smaller businesses to retain their employees, although it was widely overshadowed by the Payment Protection Program (PPP). The ERTC is still available retroactively for both 2020 and 2021. Determining eligibility can be tricky, especially if you applied for PPP loan forgiveness, so you should generally consult a tax professional for assistance. Click the following link for more detail on the ERTC.
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