The Employee Retention Credit is one of the few lucrative options remaining for small businesses looking for Covid-19 relief.
As we've noted before, the rollout of the ERC was complex and accompanied by major changes, which has created avenues for some operators to prey on confusion among businesses. To qualify, businesses need to see a drop in revenue during specific quarters in 2020 and 2021 compared to 2019, or — and it's a big or — they had to be operating under significant government restrictions, which includes nearly all restaurants, daycares and other businesses. Companies could receive up to $26,000 per full-time employee over the entire credit.
Business owners should also be wary of groups that say the ERC will be quick, since it often takes eight months to a year or longer to receive the refund, McCabe said. It's not enough that business owners spent money on personal protective equipment or had to buy plastic partitions, she stressed. They had to have seen a material disruption in their business or be closed by a local or state government health order.
A professional accounting firm will also talk to a business owner about the potential cash flow implications of the credit and how to best maneuver through those tax implications, while a fly-by-night firm might not, she said.
ایران آخرین اخبار, ایران سرفصلها
Similar News:همچنین می توانید اخبار مشابهی را که از منابع خبری دیگر جمع آوری کرده ایم، بخوانید.
منبع: JaxBizJournal - 🏆 599. / 51 ادامه مطلب »
منبع: JaxBizJournal - 🏆 599. / 51 ادامه مطلب »
منبع: JaxBizJournal - 🏆 599. / 51 ادامه مطلب »
منبع: JaxBizJournal - 🏆 599. / 51 ادامه مطلب »
منبع: JaxBizJournal - 🏆 599. / 51 ادامه مطلب »