07/20/2023
Do you know all the business credits available to you?
There may be more than you think. Check out some of the big ones!
Employer Retention Tax Credit: As a result of the pandemic, employers who retained their employees during this time have been allowed to recoup some very significant tax credits. The filing period to claim these is nearing the end, but there is still time. If you haven’t filed for these credits, let’s talk - I don’t want you to miss out on this one-time opportunity.
Work Opportunity Tax Credit: There is more to hiring than reviewing resumes and job history. Certain candidates may help you qualify for tax credits should you place them in a permanent role. Learn more about how you become eligible for Work Opportunity Tax Credits when you hire a qualified candidate.
F**A Tip Tax Credit: This credit is unique to employers in the food and beverage industry that accept tips for servers and other employees. The F**A Tip credit, formally referred to as the “Credit for Portion of Employer Social Security Paid with Respect to Employee Cash Tips,” attempts to give some relief to businesses that pay the employer's share of employment taxes on tip income paid to their employees by someone else.
SECURE Act 2.0: Do you think you are too small to offer a 401(k)? Employers of all sizes will soon be faced with the mandates set forth by the SECURE Act 2.0. While having a 401(k) will help you attract and retain talent, there’s an added bonus for you. Employers who offer an employer-sponsored plan, qualify for additional tax credits - credits that go straight to your bottom line.
Small Business Health Care Tax Credit: Having robust benefits can help you attract and retain talent. If you are a small employer with less than 25 full-time equivalent employees and you contribute to their health insurance, you MAY qualify for a tax credit that puts money back in your pocket.
When can we talk?