The Employee Retention Credit was covered as part of our Stay Strong Webinar on December 30, and now we have additional information to share.
To determine whether or not your company is eligible for Employee Retention Credits—which can be up to $14,000 per employee—here is a breakdown of the requirements for 2020 and 2021:
This credit could be significant for employers. For example, organizations with 20 employees each earning $40,000 or more per year could earn $14,000 per employee or a total credit of $280,000.
Our RDG+Partners Payroll and Benefits team will host another Stay Strong Webinar next week to cover more details about this credit, related strategies and how we can assist you. Stay tuned for details.
RDG+Partners wants to be the primary advisor for motivated business owners. The firm is committed to providing boutique level accounting, tax and business consulting services to the Rochester, NY community.