Do Not Miss Out On Valuable Tax Credits!

Coffee Shop Employee Making Latte

Understand the employee retention credit

If you received a PPP Loan, you were originally ineligible to take the Employee Retention Credit. However, with the passing of the recent Consolidated Appropriations Act, you may be able to retroactively claim up to a $5,000 credit per employee for the tax year 2020.

If your business was either partially or fully shutdown during at least one quarter of 2020 OR your business had a significant drop in gross receipts in 2020 relative to the same calendar quarter in 2019, you might qualify.

The time frame to retroactively claim this credit is critical. Do not file your 4th quarter Form 941 before consulting your HM&M advisor. Let us analyze your circumstances and help you determine if you qualify for this lucrative credit per employee.

Contact us for more information.

Contact Us

 

For more information check out HM&M’s COVID-19 Resources page.

HM&M COVID-19 Resources

 

Latest Blog

Introduction to Winter Storm Disaster Relief

Last week, many Texans and residents of other southern states were severely impacted by a historic winter storm. ...

Apartment Building

When 15-Year Depreciation For QIP Might Be Better Than 100% Bonus Depreciation

Earlier this year, Congress finally passed legislation that corrects a drafting error related to real estate qualified improvement ...

Family on the beach

5 Tips For Safe Intrafamily Loans

If a relative needs financial help, offering an intrafamily loan might seem like a good idea. But if ...

HM&M Updates

HM&M Welcomes Bill Barnard As New Shareholder

HM&M is thrilled to welcome Bill Barnard to the HM&M team as shareholder. Bill brings with him Michelle ...

Kimberly Lyons Encourages High School Students In A Career In Accounting

Kimberly Lyons is a member of the TXCPA Dallas Chapter and sits on the Partners in Education Committee. ...

HM&M Included on Forbes’ America’s Best Tax and Accounting Firms List

“For the second year, Forbes has partnered with market research company Statista to create a list of the ...