cov er sto ry
H o n k a m p K r u eg er & C o., P.C.
How employee retention tax credit can help your franchise recovery Businesses suffered tremendous losses in revenue due to COVID19. In response to government shutdowns, congress enacted three key acts that could help franchises get back on track. However, we’ve noticed most owners are not taking advantage of these programs. The Employee Retention Tax Credit (ERTC) was first implemented through the Coronavirus Aid, Relief and Economic Security (CARES) Act to provide tax credits to businesses that were continuing to pay and hold onto employees during the times of government shutdowns and restrictions. Since the CARES act was first enacted, the Consolidated Appropriations Act (CAA) and the American Rescue Plan Act (ARPA) have provided businesses with key opportunities to save thousands, however, many franchise owners are not aware of the amount of savings it can provide and assume they are not eligible.
Ryan Hauber
Franchising USA
One of our clients and the owner of Sunset Subway franchise, Christine Blank, said that she would have never known about the benefits from the ERTC program if
