Tag: cares act

What Are the CARES Tax Breaks for Businesses?

CARES Tax Breaks for Businesses

Amherst, NH Business Owner Seeks Advice

There are several tax breaks for businesses under the CARES (Coronavirus Aid, Relief and Economic Security) Act.  Charitable contributions are adjusted from a maximum 10% of the company’s taxable income, to 25% of cash donations.  Payment on the employer share of Social Security tax on payroll can be deferred until the end of the year and a tax credit is available of up to $5,000 per employee.  The cap on a business loss has also been suspended.

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405 Daniel Webster Hwy
Merrimack, NH 03054
(603) 429-2009

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Wednesday: 9AM-5PM
Thursday: 9AM-5PM
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