Question: What do the Paid Sick Leave Credit and the Child Care Tax Credit mean for small business owners?
Answer: Immediate tax credits to your business for employees who are taking leave for a variety of reasons, due to COVID-19.
COVID-19 has had a drastic impact on the daily lives of business owners, employees, and their families. To help ease the burden of navigating sick leave and childcare during this time, new tax credits have been introduced by the US Government. These credits are designed to help business owners take care of employees and their families while maintaining their businesses during this crisis.
Running a business can be challenging even in the best of times. Taking advantage of tax credit opportunities during this crisis can help you take care of employees and allow your business to continue to grow. For more details on options currently available to business owners, as well as situational examples from the US Treasury Department, IRS and US Department of Labor, click here.
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*BHG Financial is not providing tax or legal advice through this article.
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