The Employee Retention Credit (ERC) is a valuable tax incentive provided by the U.S. government to support businesses in retaining their workforce, especially during economic challenges such as the COVID-19 pandemic.

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Your business may be eligible for the ERC if it experienced a decline in gross receipts in 2020 or the first three quarters of 2021.

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According to the standard ERC guidelines, you can qualify for a credit equal to 50% of the first $10,000 in qualified wages paid to each employee in 2020. In 2021, the credit increases to 70% of the first $10,000 in qualified wages per employee per quarter.

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Take advantage of this opportunity to ease financial burdens and promote employee retention during uncertain times.