The covid-19 pandemic has left businesses and individuals in a precarious situation. Many governments around the world have announced fiscal incentives to support businesses in these difficult times.
The US government has recently announced a $2.2 trillion stimulus package, which is almost 11% of its gross domestic product (GDP).
Many businesses have a US footprint and therefore it’s good to take note of these support measures and evaluate if businesses could avail of these incentives to help ease their financial burden and in turn give certain benefits to employees.
Deferring payment of social security taxes This is a benefit that has been made available to all employers regardless of the size of their operations.