August 27, 2021

You’re reading Gusto’s newsletter for growing businesses. If you’d like these weekly updates in your inbox, you can subscribe here. New to Gusto? Try a free demo today.

Employee Retention Credit: Important upcoming dates

You’ve heard us mention the Employee Retention Credit (ERC) before — it’s the tax credit that can help businesses save thousands of dollars for every qualifying employee they retained over the course of the pandemic. If you are interested in claiming the credit, you’ll want to pay attention to the following dates:

  • September 30, 2021: End of Q3 2021 and possibly the last quarter employers may claim the ERC.
  • October 31, 2021: Returns are due to claim the credit for Q3.
  • December 31, 2021: Stay tuned — the ERC may be discontinued in Q4 2021 as a result of the Infrastructure Bill (H.R. 3684). If the credit is continued for Q4, the quarterly returns will be due January 31, 2022.
  • Tomorrow, August 31, 2021: Gusto experts will be hosting a free webinar walking through our (also free) calculator that can help you determine your ERC eligibility. We’ll be addressing FAQs about the program and taking live questions. Hope to see you there! Register here.

Vaccination mandates, reprised 

Last week, the Food and Drug Administration issued its full approval of the Pfizer vaccine for Covid-19. This doesn’t necessarily mean that any of the guidance around employer vaccination policies has changed. So why is everyone in the business world talking about this? My colleague Caleb Newquist shared some thoughts in his latest newsletter:

The number of businesses requiring employees to be vaccinated is increasing by the day, and it will continue as competitors of these companies are sure to follow. Businesses that don’t face unknown, potentially significant risks. 

The stakes don’t feel all that different for small businesses. Initially, mandating vaccines was seemingly complicated, but it now appears that the momentum is going in the opposite direction. Requiring employees to be vaccinated is likely to become the norm, and many small businesses are probably wondering what that means for them and what they should do.

While the rules haven’t changed, businesses around the country seem to be trending in the direction of requiring vaccination. Whatever you decide is right for your business, you’ll want to know your obligations and requirements as an employer. Get the latest vaccine mandate guidance here.

What’s an EAP?

We are in the midst of what some are calling the Great Resignation. According to Inc., 11.5 million workers quit their jobs between April and June of this year. Some of the stated reasons include stress, burnout, dissatisfaction, fear, and feeling undervalued or unsure of safety in their workplace. What this tells us is just how important it is to manage our teams’ well-being if we want our businesses to succeed.

One way to support workers is by offering an Employee Assistance Program (EAP). An EAP is an employer-sponsored program designed to give employees and eligible members of their household the support and resources they need to confidentially resolve life challenges and personal issues that can negatively affect their work performance. These issues can be related to family, finances, mental health, professional challenges, and more.

It’s when we’re feeling our best that we can do our best work. Find out more about why you might want to offer an EAP, and how to set up your own EAP here.

Picks from our partners

  • OCT 13–15: ​​ByBlack Conference — This October marks the 2021 ByBlack Hybrid Conference, produced by our partners at the U.S. Black Chambers (USBC) along with the National Association of Black Owned Broadcasters (NABOB). The event will feature over 100 speakers and 40 sessions. Only 150 guests will be permitted to join in person. Register here.
  • OCT 17–19: 2021 National Women’s Business Conference — Join the National Association of Women Business Owners (NAWBO) for a three-day virtual conference, including meet-and-greets, breakout sessions, workshops, roundtables, networking events, giveaways, and more. Register here. 
  • First Women Grant — Jane Walker, in partnership with IFundWomen, will be funding 30 groundbreaking women-owned businesses in the Entertainment & Film, Music, Sports, STEM, Journalism, and Hospitality industries through the end of the year. Selected businesses will receive a $10,000 grant plus a one-year Annual Coaching Membership on IFundWomen. Apply here. 

Find the latest relief options in our Small Business Relief Finder.

Want more news and resources? Check out past editions in our archive.

Mohini Kundu Mohini Kundu is a news editor on the Gusto content team. She studied journalism at Northwestern University and started her career at The Huffington Post before embracing the #startuplife.
Back to top