Ever feel like you're walking a financial tightrope? Balancing your business needs with the ever-changing economic climate can be quite the juggling act. The Employee Retention Credit (ERC) could just be that safety net below, ready to catch you.
Understanding the Employee Retention Credit (ERC)
The Employee Retention Credit, better known as ERC, is a form of financial relief for businesses. This initiative was launched by the US government to support companies affected by COVID-19. The goal? To help keep workers on the payroll and maintain economic stability.
According to IRS guidelines, employers are eligible for this credit if they fully or partially suspended operations due to governmental orders related to COVID-19 or experienced a significant revenue decline in any calendar quarter of 2023 compared with the same quarter in 2023.
This relief program has been a lifesaver for many firms, especially small-to-medium enterprises that were hit hardest by pandemic restrictions. But how does it work exactly
By: Stephen S
Title: How Big is an Average ERC Refund? Setting Your Expectations Right
Sourced From: erctoday.com/average-erc-refund/
Published Date: Thu, 02 Nov 2023 16:24:35 +0000