Long-term care facilities are among those that are using the ERC as an incentive to retain employees. Nursing assistants and personal aides who have been with the same employer for one to three years receive a $1,000 bonus for every six months they stay in the same position. Currently, these employees are eligible for a…
Employee Retention Credit or ERC is a tax benefit that businesses can claim from the IRS. The ERC can be used to offset business expenses for wage increases, pay for promotions, and for promotions or training of their employees. It may also be used to cover the cost of paying legal fees or compensating those…
Many of the provisions of the 2012 American Recovery and Reinvestment Act (ARRA) have expired, or are expiring on December 31, 2015. In the United States, special rules govern the expiry of tax provisions and tax breaks, typically by regular scheduled “sunset” dates. A Special Rules Section is added to every tax statute that establishes…
Employee retention credits offer a tax deduction to employers for helping to retain employees through a compensation package that has been approved by the IRS and included on an employee’s Form W-2 or 1099, as appropriate. There are different rules to determine whether retention is real or actual, with the goal of providing the maximum…
There are many reasons to qualify for a new stimulus for small business. This is one of them. The Small Business Jobs Act of 2010 provides a $75 million grant program to assist small businesses facing economic uncertainty. The program is also designed to help these businesses reduce unnecessary job separation and reduce their level…
This is not an advocacy piece on the economic merits of the American Rescue Plan Act or other proposals to replace the Affordable Care Act. Such a piece is beyond the scope of my personal expertise, as well as my expertise in politics. Instead, this is an advocacy piece that tries to explain how the…
