Government tax credits can be a lifeline for businesses navigating the impact of the COVID-19 pandemic. These credits can prove especially helpful for businesses struggling to retain a skilled workforce during periods of reduced demand. In the coming months, competition for skilled labor is expected to ramp up, so the smart strategy is to maintain your current team and add qualified labor now if you can.
There are two tax credits to consider.
The Employee Retention Tax Credit (ERTC) can enable employers to provide workers with full compensation, even when there is not enough work for them to be