What is 401(k) profit sharing? Around the holidays, many businesses consider providing bonuses to their employees. Some businesses choose to provide their employees with a year-end bonus in a slightly more unique way than just a normal cash bonus. This is done through 401(k) profit sharing. Let’s take a look
Tag: tax credit
Every American worker would like to retire with a comfortable amount of money at an early age. However, an annuity.org study suggests that the complete opposite is happening. In fact, the United States is facing a retirement savings crisis. According to the study, 22% of Americans have less than $5,000
There are many things to consider when offering an applicant a position within your company. The salary of the position is probably the first thing a potential candidate will look for. After the position’s salary, the benefit package that you offer will be a key to attracting and hiring new
There are many tax credits that businesses can take for a variety of reasons. Knowing what these tax credits are and how to take them can allow businesses hundreds, or even thousands, of dollars per year in tax savings. One of these tax credits is the Work Opportunity Tax Credit.
The Employee Retention Tax Credit (ERTC) is a refundable tax credit designed to keep employees on payroll. Businesses who have seen a significant decrease in their gross sales and have been subject to a government shutdown/slowdown may be eligible for credits of up to $5,000 per employee on 2020