The Employee Retention Credit gives eligible businesses a refundable tax credit of up to $5,000 per employee per quarter in 2020 and up to $7,000 per employee per quarter in 2021 — bringing the total annual amount of potential credit to $28,000 per employee this year (2021).
FREE TAX ADVISING PROGRAM: OneEastside SPARK is sponsoring up to two hours of FREE one-on-one tax advising services, with a CPA from Clark Nuber, for East King County small businesses and non-profits to help them determine their eligibility and navigate the Employee Retention Tax Credit. Click here to sign up for the program or email firstname.lastname@example.org for additional information.
Clark Nuber Articles on Employee Retention Credit:
- Changes to the Employee Retention Credit
- The CARES Act – Employee Retention Credit Program: Eligibility Requirements and Definitions
- Employee Retention Credit: Latest Updates and Extension Through 2021