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 Ct 2658 E  Form 2009

2009-2025 Form

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hey tax Pros today we're going to be talking about ERC credits and how they affect our tax returns um ERC as we know is employee retention credit and these were filed against payroll taxes um that were paid during 2020 or 2021 um during the pandemic and it was incentives to keep businesses um keep their employees on payroll so um their effective credit for the economy but now we have to deal with them and um here's what we have so diving right in a lot of times unless we're super in tune with our client all the way through the year A lot of times we don't um realize this has happened until we see it on our draw balance so um we're gonna for our example today we're gonna do a 2022 return this is a sample trial balance for a restaurant and here we have our wages that were paid for the restaurant and then uh our client had recorded this other income here it happened to be three thousand dollars so this is income to the good cash deposit in t

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