07/19/2023
If you are a small business owner, it is important to take advantage of every opportunity to save money and increase your profits. One way to do this is by applying for the ERC tax refund. The Employee Retention Credit (ERC) was introduced as part of the CARES Act and provides eligible employers with a refundable tax credit of up to $5,000 per employee for certain wages paid between March 12, 2020, and January 1, 2021. Qualified wages are limited to $10,000 per employee per calendar quarter in 2021. Thus, the maximum ERC amount available is $7,000 per employee per calendar quarter, for a total of $14,000 in 2021.
