crisis managementLeadershipSmall Business

Small Business Crisis Management Plan B

The new ’employee retention credit’ is a refundable payroll tax credit for 50% of qualified wages up to a maximum wage of $10,000 per employee. Wages paid starting March 13, 2020 through December 31, 2020 are eligible, even retroactively. The best way to take advantage is to integrate this cash flow benefit directly with your payroll accounting.

This should be part of an overall well-planned crisis management strategy and not as a desperate measure to keep your business open. I would be pleased to hear your plan and discuss these possibilities.

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