There are three credits that are available
1 – A paid sick leave credit when the employee is under a quarantine or isolation order. The credit is the employee’s regular rate of pay, up to $511 per day or $5,110 in total, up to 80 hours or ten working days.
2 – Another paid sick leave credit is when the employee is caring for someone who is subject to a quarantine order or a child whose school or place of child care is closed due to Covid-19. The credit is two-thirds of the employee’s regular rate of pay up to $200 per day or a total of $2,000 for 80 hours or ten days.
3 – This Paid Family Leave Credit is for when the employee is caring for a child who is home because a school or child care center is closed due to C-19. This credit is equal to two-thirds of the employee’s regular rate of pay, capped at $200 per day or $10,000 total. Up to ten weeks can be counted toward a qualifying family leave.
These credits are similar to the Employee Retention Credit and is taken on form 7200 as well. For further information, please contact our offices.
Let me leave you with this.
I mentioned in prior communications that I was setting up a payroll service, and am pleased to announce that we are ready to begin.
Salary Solutions LLC is a company that we are running in conjunction with our usual accounting and tax services. This is a payroll service handled by my usual taxation professionals.
Unlike other companies, where you can never get anyone on the phone when you have a problem, we will be here to handle any problems that arise. In payroll, there are always issues. Rather than calling your payroll rep, leaving a message on voicemail so that someone can get back to you three days later from Bangladesh, we are providing the same professional customer service synonymous with our good name.
More than that, we are housing everything under the same roof. This allows us additional tax planning and tax savings opportunities because we are actually doing the payroll rather than finding out about it a month or more later when doing a financial statement.
For many of my usual customers with only one person on the payroll where we already handle your payroll tax returns, this will mean that you won’t have to mail anything in or file something on MyTaxIllinois. It will mean that you may not need to do anything at all. It will just be done by our staff.
For others having more people on the payroll, you will be able to go into our secure online portal, enter the number of hours, or regular salaries for your employees, and again, it’ll just be done. Whatever the payroll regularity, we can accommodate. Whether you want direct deposit, a download of payroll stubs, or you want physical checks written and delivered, we would love to help.
Most importantly, when there is a problem, it will be handled by a person that has some clue what they’re doing, because public accountants do payroll better. There is a two to three week window to get everything set up, and we can only take on twenty or so new clients at a time to ensure the utmost in customer service. If you would like our help, please go to the following webpage and contact us for further assistance.
Accounting Solutions Ltd. stands ready to complete our mission and purpose of protecting you, your family, and your business. If there is anything you need, whether you are a current client or not, you have but to ask. I’m here and I remain,
Accounting Solutions Ltd.
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