Massive One-Time Tax Credit for Startups
Starting a business under “normal” circumstances is a journey but if you started a business in 2020 or 2021 it was grueling. How about some free money to take the sting out of it? The CARES Act, introduced on March 27, 2020 in response to the COVID-19 pandemic, contained a variety of programs designed to get money out to individuals and businesses and to stimulate the economy. One of these programs was the Employee Retention Credit (ERC), which allowed employers to receive a tax credit for qualified wages paid to their employees. The Cares Act was subsequently modified to include ERC...
