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COVID Paid Sick Leave – Don’t miss these tax credits! ARPA update with Niki Ramirez

Today, we talk to to Niki Ramirez, MBA/PHR/SHRM-CP/THRP and Principal Consultant for HR Answers.org. She gives us the run down on what we need to know about COVID paid sick leave that was expanded under ARPA 2021. This additional paid leave can allow for a dollar for dollar tax credit on your employee tax liability (claimed on 941 returns)! Make sure you check on the IRS guidance for these tax credits: https://www.irs.gov/newsroom/employer-tax-credits-for-employee-paid-leave-due-to-covid-19 Remember! Talk to your payroll provider when you need to set up a labor code. If you are looking for help establishing an earnings code, make sure you set up that up with payroll. Subscribe to Niki's YouTube channel here: https://www.youtube.com/channel/UCc9xyPi1x8Sh51c-rJyN95A Find her website here: https://www.hranswers.org/ Book a time to talk to Niki here: https://www.hranswers.org/hr-consulting/ 💲 Need an accounting system? We use Quickbooks Online with clients and recommend it as the best accounting system for small businesses. Sign up to get a free trial AND 12 months 50% off! https://claracfo.com/QBO 🙋‍♀‍Got Employees? Need a payroll company that knows what small businesses need? We recommend Gusto as the best small business payroll provider. Sign up for $100 gift card after you run your first payroll: https://claracfo.com/gusto 🏦 Need Forgiveness for your PPP loan? We recommend Upside Financial to get help with your PPP forgiveness paperwork and application. Get $100 off their service here: https://claracfo.com/upside (As an affiliate or referral partner for these companies, I may earn rewards from qualifying purchases) Hannah Smolinski is a #CPA and the Founder of Clara CFO Group. Find out more about Clara CFO Group and services offered at https://claracfo.com/ Disclaimer: This video is intended for educational purposes and should not be taken as legal or tax advice. You should consult with your financial professionals about your unique financial situation before acting on anything discussed in these videos. Clara CFO Group, LLC is providing educational content to help small business owners become more aware of certain issues and topics, but we cannot give blanket advice to a broad audience.

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