How the Employee Retention Credit Help Your Business

The pandemic has undoubtedly had extremely negative consequences, arguably even irreparable damage to U.S. businesses. Considering this, the U.S. government offers an employee retention credit (ERC) to businesses who have suffered as a result of the sudden pandemic.

US-based companies who meet certain criteria are entitled to earnings of up to $26,000 per employee, depending on several factors. The severity of revenue lost as well as employee wages, services harmed by lockdown, and several more all have bearing on the employee retention credit earned.

While this may seem unapproachable for many business owners, this may seem too complicated to pursue, thus leaving money on the table for most. However, services like Credit League have made it accessible to many more business owners. With teams of professionals and an easy 5-minute quiz to determine eligibility, it is extremely feasible for many businesses. Ultimately, employee retention credits are an extreme benefit to businesses who have suffered as a result of COVID, any possibly vital for more dire cases. As we begin to move out of the pandemic era in society, the economic ramifications linger all the same. ERC’s are a fantastic way of keeping the economy in a healthier and more resilient state.

What Is Employee Retention Credit?