Categories
Business Owners

Changes in Employee Retention Tax Credits in Build Back Better Act [Video]

Watch/Read More

Changes in Employee Retention Tax Credits in Build Back Better Act

Changes in Employee Retention Tax Credits in Build Back Better Act

Kruze’s tax team helps hundreds of startups cumulatively save millions on their taxes every year – even unprofitable startups can benefit from tax credits. See how much a tax return might cost your company at https://kruzeconsulting.com/startup_calculators/how-much-does-a-startup-tax-return-cost

Hey, it’s Scott Orn at Kruze Consulting. And today I’m talking about changes, in the Employee Retention Tax Credits, that are in the Build Back Better Act. Now, if that is not a tongue twister, I don’t know what is.

But the Biden Administration just signed in a bunch of tax reform and there’s some good things and some bad things in there for startups. The good thing is, one of the tax credits, the new Recovery Startup Business Tax Credit, which basically gives up to $50,000 in payroll taxes on a quarterly basis to startups that were formed after February 15th, 2020. So basically, if you were formed after COVID started, you are eligible for a $50,000 tax credit. It’s been going on in Q3 already, we’ve already been doing tons of these, but Q4, it is preserved. You will still be able to get that up to $50,000 tax credit in Q4.

It’s based on, I think it’s capped at $5,000 per employee. So you kind of need to have like 10 engineers basically, or 10 people, not just engineers, to be eligible for that. But that is preserved that will go forward in Q4, if you are a relatively new company, and formed after February 15th, you will be in… February 15, 2020, you’ll be in good shape and can get that. So talk to your friendly CPA, don’t have a CPA, you know where to find them at kruzeconsulting.com, shameless plug there. But, there’s some bad news, and, there was another form, like kind of the earliest form of Employee Retention Tax Credit, which was in 2020 and even the first half of 2021. That has been eliminated for Q4.

Those were based on reductions in revenue, and there’s different thresholds every quarter, some quarters it was 50%, some quarters it was 25%. Also, if your company shut down because of COVID, you were eligible, you know, that’s like truly shut down, not like, “Hey, we’re working from home and deploying code to get up.” “We’re working remotely” kind of thing. But unfortunately, that one has been eliminated. So that was a substantial tax credit for a lot of companies that were really hurting. But they probably have been taking advantage of those tax credits for at least a year now. So I think Congress probably said, “Hey, we can save a little money here by getting rid of this one. But let’s preserve the one that benefits startups that were formed after February 15th, 2020, because hey, that was a really tough time to start a company.

We want to support those businesses start early, and we want to encourage them to hire.” So I think that’s the logic around this, but, the headline is, if you are a new recovery startup business, you’re still eligible for that $50,000 tax credit Q4. If you were a company that was really struggling and were dependent on a tax credit because, or we’re eligible for tax credit because you had a material revenue decrease or had shut down the offices or things like that, then, that one’s not going to be available for you in Q4.

Other interesting stuff in the Build Back Better legislation that I’ll cover in some other videos. But this is how it impacts the Employee Retention Tax Credits. Hope that helps. If you have any questions, hit us up at kruzeconsulting.com.

We’re very active on the Employee Retention Tax Credits. We’re literally filing hundreds of these, so we know how to do it and we can help you out. Hit us up. Thanks!

Categories
Business Owners

$50,000 Small Business Grant For Black Business Owners (2022) [Video]

#grants #smallbusinessgrants #smallbusinessToday's topic is the $50,000 Small Business Grant For Black Business Owners (2022)!Famous Amos $50K Grant: https://famousamos.nationalbcc.org///GRANTS// 💸 Grants Playlist: https://bit.ly/3lUPPym //BUSINESS FORMATION// ​​💻ZenBusiness (w/ Discount): https://shrsl.com/3fohoBetterLegal $100 Discount: https://bit.ly/3CTUOp1 //BUSINESS BRAND// 🎬Tailor Brands (40% OFF): https://tailorbrands.go2cloud.org/SH6H//BUSINESS BANK// 🏦 Open A Business Bank w/ Novo: https://novo.pxf.io/OREVgZ***************************//FREE MONEY// 🍀 Steady App (Jobs, Side Income, Grants): https://bit.ly/3jl3lsxCapital One Savor Credit Card ($200 SUB): https://capital.one/3jI7RiqChase Freedom Credit Card ($200 SUB): https://bit.ly/3N5bK16 Chime Checking ($100 SUB): http://bit.ly/3hCxZMx Varo Bank ($50 SUB): https://bit.ly/3CuQImR Discover Credit Card ($50 SUB): http://bit.ly/356mpnT //INVESTING// ⏳Start Investing w/ Webull: https://bit.ly/4o0501p Robinhood (Free Stocks): https://bit.ly/3CWQB4r BlockFi (Free Crypto w/ $100 Deposit): https://bit.ly/3un6tYM//MUST READS// 📚Zero to One: https://amzn.to/3vez9Um The Lean Startup: https://amzn.to/3vgciaS The $100 Startup: https://amzn.to/3bO0WDp The Unemployed Millionaire: https://amzn.to/3bPtHQ5 Become Your Own Boss In 12 Months: https://amzn.to/3ww6fz5 ***************************//SUBSCRIBE// 🔓Subscribe: https://bit.ly/2HI3J4S Thank you!//CONNECT// 📱Text Me: (682)235-9468 //ABOUT ME// 🙋🏽‍♀️ Hello, I’m Darcy. I have worked 20+ jobs, internships, side hustles, and basically anything you can name, I have tried it or want to try it out. During this time, I realized that there was one business I had yet to work for, MY OWN. I enjoy learning new skills and finding creative ways to make more money. Let’s create wealth one step at a time and together! ***************************//DISCLAIMER//Disclaimer: The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship. You should not act or rely on any of the information contained herein without seeking professional legal advice.Affiliate Disclosure: some of the links above are affiliate links, meaning I make a small commission at no additional cost to you if you click on the link and make a purchase ☺️//TAGS//small business grants,business grants,grants for small business,business capital,grants,black business owner,grants for inventions,startups,grants for business start up,grants for small business start up,small business,grants for startups,black owned business,entrepreneur,grants for black business owners,grants for everyone,new grants,new grants for self employed,small business grants for minorities,small business grants covid 19,#db,small business grants 2022

Categories
Business Owners

NEW $48B RRF Small Business Grants in the works ( Late night Update ) [Video]

Thanks for watching and subscribing to speaknsee. Small business updates on grants, loans and the latest news to help you succeed.

Categories
Business Owners

BREAKING: SBA EIDL, ERTC, PPP, GRANTS, Q&A | STIMULUS UPDATE | MAY 31 | SHE BOSS TALK [Video]

#stimulusnews #grants #funding BREAKING: SBA EIDL, ERTC, PPP, GRANTS, Q&A | STIMULUS UPDATE | MAY 31 | SHE BOSS TALK In today's stimulus update, Federal Govn't spent $5 Trillion on stimulus; states are issuing stimulus checks; Proposals for Inflation Relief; President Biden considering $10,000 Student loan cancellation; States rollout $10 BIllion State Small Business Credit Initiative; State stimulus checks; HUD rollout of 10.3 Billion grants; ERTC $400 billion payroll tax credit up to $26,000 per W2 employee; more grants available. Let's talk about what this means for small business..........................................📌CARES ACT Employee Retention Tax Credit (REFUNDABLE) up to $26,000 per W2 employee. There's $400 Billion federal funding available. Average credit is $26,000. See if you qualify👉 https://bit.ly/ertchelp.........................................📌CARES ACT Child Care Stabilization Grants for Providers. There's $49 Billion allocated with states adding funds.https://childcareta.acf.hhs.gov/state-and-territory-child..................................................................GRANT MONEY RESOURCES😀Win Grants with Ease Masterclass Bundle➡️➡️ http://bit.ly/sbtwingrants😀Yay!! The Winning Grant Application Cheat sheet & Checklist is here!🎉🎉 Get it now!➡️➡️ http://bit.ly/sbtgetgrantsnow😀Here is the SMALL BUSINESS RELIEF AND GRANT TRACKER. Updates are made weekly.➡�� https://bit.ly/shebossgranttracker.................................................................COURSES TO HELP YOU PROFIT BIG📌Make massive impact and money with your YouTube channel, get my YouTube Creator Masterclass today!➡️➡�� https://bit.ly/getyoutubeprofit📌MBE Certification Masterclass Bundle - Get Gov't Contracts & Grants➡️➡️ http://bit.ly/mbecertbundle📌Attraction Marketing Masterclass - Build a pipeline of clients online➡️➡️ https://bit.ly/attractyourclientsonline..................................GET FUNDING UP TO $25K SAME DAY APPROVAL! No collateral needed. No hard credit pull. ➡️➡️ 25kfundingtoday.comMust have....✔550 credit score✔$5k+ monthly sales✔6 months in business.✔Business Bank Account in business name✔ EIN (Business Tax ID)....................................GET BUSINESS LINE OF CREDIT PROGRAM UP TO $100,000. One year in business, 550 + credit score, $15,000/month revenue. It's here when you need it. See if you qualify. ➡➡ http://www.getbizcredittoday.com....................................DIVVY CREDIT & BUILDER PROGRAM will help you grow your credit profile and will scale with your business. Check it out here 👉 https://bit.ly/divvybuildcredit....................................📌Get HELP with FundingFor PPP consults👉 https://bit.ly/pppassistanceFor EIDL consults👉 https://bit.ly/eidlassistaneFor funding maximization, business and marketing strategy 👉 https://bit.ly/shebosspickmybrain