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Four Important Employer Tax Credits for 2020

Source: https://cpapracticeadvisor.com/tax-compliance/news/21203766/four-important-employer-tax-credits-for-2020 - Jan 4, 2021

As 2020 draws to a close—finally—employers may take advantage of several tax credits for employee wages. Consider these four tax-saving opportunities created by recent tax legislation.

1. Family and medical leave credit: This credit, authorized by the Tax Cuts and Jobs Act (TCJA), was initially scheduled to end after 2019. But the Taxpayer Certainty and Disaster Relief Act passed earlier this year extended it through 2020.

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Category: General Business