The National Federation of Independent Business reminded on February 9th that businesses with 500 or fewer employers may be eligible for a newly expanded tax credit – up to $14,000 per employee in Q1 and Q2 of this year. The Employee Retention Tax Credit (ERTC) now expanded through June 30, 2021, offers a more generous tax credit, and eliminates a previous 2020 restriction for those with a Paycheck Protection Program loan.
NFIB’s latest survey of small business owners shows most aren’t aware of the ERTC. Consider talking to your tax professional or bookkeeper soon about taking advantage of the expanded ERTC. Learn more about the credit >>