As a small business, the coronavirus pandemic has presented countless challenges mainly as a result of lockdowns and social distancing restrictions. This has forced governments to come to the rescue by providing funding and tax breaks. Apart from the government, other organizations have also stepped in to help small businesses to survive and keep offering services during and after the virus. However, the biggest help for small business owners comes from the IRS in the form of tax credits. Some of the benefits that the IRS has promised to offer include new credits for the employers that include the employee retention credits and credits for paid sick leave and family leave. With these credits, you can save your small business from the effects of the pandemic while ensuring that your employees are protected as well. Here are some of the tax credits that can help you and how they work.

As different states in the US continue implementing the stay at home order to limit the spread of the coronavirus, the majority of the nonessential businesses such as movie theatres, bars, restaurants, and other businesses continue to be closed. However, essential service providers, such as grocery stores remain open, and people are allowed to go shopping in such areas. However, the biggest concern is what will happen to nonessential businesses. Similarly, differentiating an essential business from the nonessential businesses is one of the challenges that have rocked government agencies.

Quarantine might have put you home, but it doesn’t mean that your business should stop. Some of the businesses can be run remotely. But before jumping into remote work, make sure that you and your business data are safe online!