If you own a small business that has kept your team on payroll through the pandemic then there is a chance you’re missing out on money you didn’t know you had access to. There is an option out there called the Employee Retention Credit that was launched during the pandemic. The whole point of it was to act as an incentive for businesses to keep their employees working throughout the crisis.
The good news is that the Employee Retention Credit is still available retroactively. This means that if you didn’t claim it in 2020 or 2021, you can go back and utilize this as an option. It’s a refundable tax credit for employee wages that qualify, and the best bit? Well, we’ve got a Lendio ERC Infographic below to explain it all clearly:
Infographic Design By Lendio ERC Infographic
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