Established in 2020 under the CAREs Act, the Employee Retention Tax Credit (ERTC) is a refundable tax credit designed to enable employers to keep their employees on the payroll during the COVID-19 pandemic. However, various myths and misconceptions surround the Employee Retention Tax Credit, inhibiting most small business owners from applying for the tax credit. In this article, we highlight four common misunderstandings that may prevent you from maximising ERTC.
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