Millions of small to medium size business owners were negatively affected by COVID 19. Mandatory shutdowns, changes to your business operation, how you served customers, supply chain problems, employee retention problems …were just a few of the many problems business owners faced from 2019 to 2021. Many business owners are still feeling the effects.
To provide relief to businesses Congress passed the CARES Act (Coronavirus Aid, Relief & Economic Security). They included the Employee Retention Credit as part of the CARES Act. Any eligible business can receive a refund up to $5,000 per employee for all of 2020 and up to $7,000 per employee kept on W2 payroll for each quarter 1, 2 & 3 of 2021. Meaning, generally, the total maximum refund is up to $26,000 per employee that was retained on your payroll during this time.
Call Jefferson Duke at (833) 388 - 8270 for your free consultation to see if your company qualifies for the Employee Retention Credit.