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Small Business Tax Credit Programs
The American Rescue Plan extends a number of critical tax benefits, particularly the Employee Retention Credit and Paid Leave Credit, to small businesses. The Employee Retention Credit The America Rescue Plan extends the availability of the Employee Retention Credit for small Businesses through December 2021 and allows businesses to offset their current payroll tax liabilities by up to $7,000 per employee per quarter. This credit of up to $28,000 per employee for 2021 is available to small businesses who
American Rescue Plan Act of 2021
American Rescue Plan Act of 2021 Upon President Biden signing the American Rescue Plan Act of 2021 into law, the U.S. Small Business Administration’s Senior Advisor Michael Roth stated: “The American Rescue Plan Act enables the SBA to continue to lift up the cornerstones of our communities; the mom-and-pop businesses and nonprofits that provide essential services for our everyday lives, hire from within neighborhoods, and more. Our nation’s more than 30 million small businesses are the economic engine of
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