If your business, like so many others, struggled as a result of the pandemic you might be interested in finding out if you qualify for the Employee Retention Credit (ERC).
Many business owners that initially did not think they were eligible for the employee retention credit for 2020 ultimately are due to either a full or partial suspension as a result of a government mandate – and the amounts may be substantial. Even for relatively short suspension/disruption of business the credits can add up quickly at $5000 per employee.
For example, a business shut down for as short of a time as six weeks could incur $60,000 of payroll for five employees during that timeframe which could result in a $25,000 credit.
For more information and to read our full blog post on this topic click here.