PPP & ERCs

[Martin__]

I have a feeling there are many small business owners in here. Further, I'm guessing many of these took out a PPP loan in 2020 and perhaps another one in 2021.

In the pandemic hay-day you could choose between Paycheck Protection Program (PPP) or the Employee Retention Credit (ERC). Congress later modified this so businesses could apply for both, also retroactively.

Most small business owners I talk to have never heard about ERC, yet it is widely available, i.e. through filing a form 941x for previous quarters if you are a corp.

IIRC, The credit is up to $5K per retained employee in 2020 and up to $7K per retained employee per quarter the first 3 quarters (I believe) in 2021. If you qualify and restrictions apply, mostly revenue based and how you used your PPP + other requirements.

Talk to your accountant/bookkeeper/CPA.

 

[Whitney]

Can I get free gas, and fertilizer from the government somehow

 

[Bob Noel]

Can I get free gas, and fertilizer from the government somehow

probably not the US government

 

[Clip4]

Can I get free gas, and fertilizer from the government somehow

Maybe not, but if you are a farmer I am paying for most the crop insurance, all your price supports and 90% of the costs to maintain the River system that transports the fertilizer and the crops to market.

 

[Whitney]

Maybe not, but if you are a farmer I am paying for most the crop insurance, all your price supports and 90% of the costs to maintain the River system that transports the fertilizer and the crops to market.

You are?
Interesting.
Where in BC do you live?