Did you receive the Paycheck Protection Program back in 2020? Under the old law, you couldn't get a PPP loan and receive the Employee Retention Credit (ERC). However, under the Consolidated Appropriations Act of 2021, now you can. Larry Gray, CPA walks through exactly how this works and how to find your qualified wages to get the payroll credit.
This is also for you if you didn't know about the ERC and now want to go back and get credit for your wages paid in 2020.
We are waiting for guidance from the IRS on how to report these hours but until then you can prepare by getting your qualified wages calculated!
A Complete Walkthrough of Employee Retention Credit 2021 | Get $14K/Employee in Second Round
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Employee Retention Credit 2021:
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Check our ERC under the CARES ACT video below:
Employee Retention Tax Credit 2020 Made Easy | CARES Act Small Business | Stimulus Tax Credits
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AGC Solutions does not provide tax, legal or accounting advice. This content has been prepared for informational purposes only and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction. Also, tax law is ever-changing and every effort should be made to seek out the most current information. Make sure to check date of published content to ensure most current information.
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