employee retention credit Archives - BeachFleischman CPAs

Business highlights in the new American Rescue Plan Act

March 16, 2021 July 22, 2021 Tax Department COVID-19, Tax Bites ARPA, COVID-19, DCAP, employee retention credit, ERC, FFCRA, SBA

You’ve probably heard about the new law that provides direct payments to eligible individuals. But what does the law provide to businesses?

Employee Retention Credit – The Rules Become More Liberal, More Complex

February 16, 2021 July 22, 2021 Tax Department COVID-19, Tax Bites ARPA, CAA, CARES, COVID-19, employee retention credit, ERC, payroll taxes, social security

Learn about the recent tax law changes affecting the employer retention tax credit, potential benefits, and more

Late 2020 Tax Legislation Provides Targeted Tax Relief

January 18, 2021 July 22, 2021 Kim Paskal COVID-19, Tax Bites CAA, CARES, employee retention credit, ERC, PPP Loans, tax relief

On December 27, 2020, the Consolidated Appropriations Act, 2021 (CAA, 2021) was signed into law by the President. The CAA, 2021 is the fourth major relief legislation enacted in response to the coronavirus pandemic. Some of the provisions grant retroactive relief to 2020.

How can your business benefit from the Consolidated Appropriations Act?

January 14, 2021 July 22, 2021 Tax Department COVID-19, Tax Bites CAA, COVID-19, employee retention credit, ERC, PPP, PPP2

How can your business benefit from the Consolidated Appropriations Act of 2021?

Employee Retention Credit

April 8, 2020 July 22, 2021 Tax Department COVID-19, Tax Bites CAA, COVID-19, employee retention credit, payroll taxes, social security

The Employee Retention Credit is a refundable tax credit against payroll taxes equal to 50% of qualified wages a qualifying employer pays to employees after March 12, 2020, and before January 1, 2021. The maximum qualified wages per employee is $10,000, Therefore, the maximum credit per employee is $5,000. The credit is available to all[ … ]

Work Opportunity Tax Credit Extended

June 16, 2016 July 30, 2021 Jon Bickerton Tax Bites CARES, employee retention credit, hiring, PATH Act, tax, tax credits, work opportunity tax credits, WOTC

With the passing of the Further Consolidated Appropriation ACT of 2021, the Work Opportunity Tax Credit was extended from December 31, 2020 through December31, 2025. These credits are based on hiring certain targeted individuals including veterans and those who receive food stamps. The tax benefits are significant – the typical yield is a $2,400 credit[ … ]