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JJ the CPA here hope youre doing well lets talk about the employee retention credit okay so what are we talking about here boom talking 50% of up to 10k that you pay each employee when you have the qualifying conditions okay so its $5,000 credit per employee potential okay so theres number of rules regulations related to this and what I want a more walkthrough related to this is the calculation of this so if were talking about the employee retention credit okay what youre gonna want to do is go to irs.gov and youre gonna go to the search and youre gonna go find form 7,200 okay and when youre finding the form 7,200 you can also find the form 7,200 instructions right next to it but were gonna be talking about how to prepare it but specifically if youre qualifying this for first quarter 2020 youd be able to do March 13th through March 31 and the 7200 is really how youre gonna get this because youve already made your deposits okay and when you put this in ching ching moneys
