Michels & Hanley CPAs LLP

Employee-Retention-Credit

Employee Retention Tax Credit (ERTC)

 Employee Retention Tax Credit (ERTC) Coordination with Paycheck Protection ProgramThe ERC was initially created when the CARES Act was signed into law March 27, 2020.  However, pursuant to the original CARES Act legislation, employers that received Paycheck Protection Program (PPP) loans were not eligible to claim ERC benefits. Thus, many employers
Tax Relief

Tax Credit Expanded for More Business Relief

Employee Retention Tax Credit Expanded for More Business Relief 1.13.21 | Client AlertThe Employee Retention Credit (ERC), which was originally included in the CARES Act(original law) passed in March 2020, provided a refundable payroll tax credit of 50% for up to$10,000 in qualifying wages per employee paid by an eligible
Stimulus bill, COVID relief

Details of the New Stimulus Act

 12.29.20 | Client AlertPresident Trump has signed the $900 billion Consolidated Appropriations Act, 2021 into law, bringing expanded COVID-19 relief to businesses, nonprofits and individual taxpayers.As we previously wrote about, included in the legislation is the Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act (“the Act”), which includes
Categories:  B2B, Banking, Covid-19, Finance, New & Trends, Slider, Taxes
New-COVID-relief-bill

$900 Billion Covid Relief Deal Reached Including Deductibility of PPP expenses

Michels & Hanley CPAs, LLP COVID-19 –12.21.20 | Client Alert Congress leaders announced Sunday night that they reached a deal on a $900 billion COVID-19 relief package.One of the biggest questions from small business owners who received PPP funds has (or is expected to) been answered. The provision, part of
Categories:  B2B, Covid-19, Employee Benefits, HR, New & Trends, Slider

Paycheck Protection Program: Round 2 for Small Businesses

Michels & Hanley CPAs, LLP COVID-19 –Paycheck Protection Program: Round 2 for Small Businesses 12.18.20 | Client Alert  Earlier this month, a group of lawmakers revealed the framework for a $908 billion COVID economic relief plan (Senate “Gang of 8” Proposal), which designates $300 billion for support of small businesses,
Categories:  B2B, Covid-19, Employee Benefits, New & Trends, Slider