How Businesses Can Claim COVID-19 Relief before Time Runs Out
The COVID-19 pandemic has wreaked havoc on the United States, not just in terms of lives lost, but also in terms of the country’s ability to maintain a fully operational economy.
ERC: A Tax Credit that Revitalizes Restaurants
The pandemic has drastically affected the restaurant industry in the U.S.. With the government imposing several restrictions, many in the food industry incurred heavy losses and shut down their operations altogether.
The Employee Retention Credit: A Boon to the Restaurant Industry
Recovering from the devastating impact of COVID will prove to be a long journey for the restaurant industry. Recent data shows that sales are $240 billion below normal, 8 million employees have been laid off or furloughed, and over 110,000 eateries closed for good in 2020, and it’s evident the way back to pre-crisis level of sales and employment will not be straightforward.
Post-COVID Outlook and Recovery for Restaurants
Restaurant owners have had to completely flip their operations to accommodate proper health and safety protocols for over a year now, but the country is finally starting to see the light at the end of the tunnel with an influx of vaccine distribution.