The Employee Retention Credit is a quarterly tax credit against the employee’s share of certain payroll taxes. The tax credit is 70% of the first $10,000 in wages per employee in each quarter of 2021. This means the credit is worth up to $7,000 per quarter and up to $28,000 per year, for each employee.
This presentation is hosted by CPA, Greg White. He goes through all of the different ways to qualify for the ERC and also discusses the difference between PPP forgiveness and ERC.
There is also information for Recovery Startup Businesses which details that new businesses are eligible for ERC even if they don’t have partial or full suspension or significant decline in gross receipts.
The VIB Network is excited to welcome our newest Corporate Member ADP. ADP is the leader in supporting Veteran businesses with payroll and HR services. For a limited time, ADP is offering VIB Network members and supporters a 20% discount on services. Connect with Tyler Hines, ADP representative, and Navy veteran.
Connect with Tyler Hines at Tyler.Hines@adp.com or call him directly at 1-630-699-5725 and don’t forget to mention the VIB discount!