ERC or Employee Retention Credit is a tax refund claimed by companies for increasing the wages of an employee before the start of the following year. In general, if an employee receives a net wage or salary increase and so the net salary was lower than that of the previous year, the employer must file…
One of the most important steps for any company is to establish and maintain a comprehensive employee retention program to ensure that new and current employees remain in their positions. Many people in today’s world view working for one company for an extended period of time as a bad career move, as they see it…
As noted previously, we’ve previously provided our customers with multiple updates and service bulletins to address ongoing issues. As an update, our ERC, which we implemented in the fall of 2017 to encourage our customers to upgrade to a new services provider, has not yet been adopted as widely as we hoped. In the fall…
ERC is a tax benefit designed to help retain qualified employees. The ERC is designed as a gift. A qualified employee can receive ERC for the taxes withheld from his or her wages. Employees who work for more than a 5 day work week (40 hours) and who meet certain qualifications for permanent residency are…
Employee Retention Credit is available to eligible small business employers who have been in operation and employ at least one full-time individual for a minimum of 6 months and the ERC starts on the first day of the next tax year. Eligible small business employers can also take the credit if they hire an individual…
For the most part, family businesses come in two varieties, those where the employees are related to the owners and those where they aren’t. In both cases, family businesses face unique challenges when it comes to employee retention, especially when it comes to health care benefits like medical insurance and health savings accounts (HSA). The…
