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The pandemic was tough on all businesses but the pandemic was especially difficult for smaller business owners. Many businesses folded and employees were let go, with no option to find other work. If your small business was one of the luckier ones, the chances are high that you were able to keep people on the payroll – but that doesn’t mean that you know everything there is to know about what cash was available to you.
One of the credits you could have enjoyed is the Employee Retention Credit and if you haven’t heard of it, you’re not alone. It’s a credit that is available retroactively for both 2020 and 2021, so if you missed out – don’t panic! This is a credit that is free money off your tax bill, reducing the total your business owes the IRS. This Lendio ERC Infographic below can talk you through all of the in-depth information that you need to ensure that you have all of the correct information!
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