Take Action Today for Your Tax Credit
Offer full paid sick days to your employees? You are now entitled to a tax credit of up to 25% of the wages paid.
Sound too good to be true? Yes! But, it is true. As of December 31, 2017, you are now entitled to a tax credit – not a tax deduction – for all PTO days your employees take. It’s called Section 45S Employer Credit for Paid Family and Medical Leave.
Per the IRS, “Internal Revenue Code Section 45S provides a tax credit for employers who provide paid family and medical leave to their employees. Eligible employers may claim the credit, which is equal to a percentage of wages they pay to qualifying employees while they’re on family and medical leave.”
For your tax credit, get all the information you need, how to apply it to your business to receive the credit and two customizable Word documents that you can start using today at your company.
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Charles Read, CPA, USTCP, IRSAC
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