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pracctg
July 8, 2021
Question

Employee Retention Credit

  • July 8, 2021
  • 1 reply
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Since we are doing quite a bit of work to get the ERC credit for clients for Quarter 2, now that we know income was down at least 20% compared to Quarter 2 of 2019, how will we know if we should keep using the CARES payroll and expense accounts in Quarters 3 and 4?  Does anybody do this before you even know if income will be down?

1 reply

BigRedConsulting
BigRedConsulting
August 1, 2021

I suppose the best course is to project your earnings based on how your business is doing. Do you have any reason to think it'll get better in the following quarters?  (Seems COVID isn't going away anytime soon...)

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