New legislation from the Consolidated Appropriations Act, 2021 creates a chance for some of your clients to take advantage of both Paycheck Protection Program (PPP) loans and the Employee Retention Credit (ERC).
Several changes specific to the ERC can provide an opportunity for additional relief for your clients. The significant changes that affect small businesses include:
Extension of the ERC through June 30, 2021
Increased credit rate from 50% to 70% of qualified wages
Increased the limit on per-employee qualified