As a Canadian business owner, I’m always on the lookout for valuable information to share with my entrepreneurial network, both here in Canada and south of the border. Recently, a conversation with Marilyn Cox of United Business Solutions shed light on a potential tax advantage specifically for our American friends: the Sick & Family Leave Credit (SFLC) for 2020 and 2021.
Now, this doesn’t apply to those of us operating in Canada, but for our American counterparts who filed a Schedule C for their income during those years, this could be significant. Marilyn, a true expert in navigating the intricacies of tax incentives, highlighted that this credit aims to provide financial relief for those who had to take time off for COVID-related reasons.
Let’s face it, as entrepreneurs, we often prioritize our businesses above all else. Taking time off, even when necessary, can feel like a burden. However, the SFLC acknowledges the importance of health and well-being, offering financial support to alleviate the impact of those necessary absences.
What impressed me most was the clarity and simplicity with which Marilyn explained the credit. It applies whether you needed time to recover personally or to care for a family member. She also directed me to a resource page on the USETC website that demystifies the SFLC with straightforward explanations and a user-friendly interface
The website even offers a tool to calculate your potential benefit based on your average daily self-employment income. This provides a clear picture of what you might receive, eliminating any guesswork.
Furthermore, Marilyn emphasized the streamlined process for claiming the credit. The website outlines a step-by-step guide, ensuring a hassle-free experience. As entrepreneurs, we appreciate efficiency, and this approach certainly aligns with that value.
However, there’s a crucial detail to remember: there’s a deadline to file your claim. So, for my American friends, don’t delay! Visit https://unitedsetc.com/ubs/marilync today to explore the details and complete a simple form to calculate and claim your credit.
Here’s what I recommend for my American entrepreneurial network:
- Explore the Resource: Head to https://unitedsetc.com/ubs/marilync to gain a comprehensive understanding of the SFLC.
- Assess Your Potential Benefit: Utilize the online tool to determine how much you might receive.
- Follow the Streamlined Process: The website provides clear guidance for a smooth claim filing experience.
- Act Promptly: Don’t let this opportunity slip away – deadlines are fast approaching!
Ultimately, the Sick & Family Leave Credit represents a valuable resource that many American business owners might have missed. Thanks to my conversation with Marilyn, I’m able to share this knowledge with my network. By taking the time to explore the details and follow the straightforward process, you could potentially secure a significant financial boost for your business. Don’t miss out on this opportunity.informed, thoughtful blog post once a month is far more effective than a stream of mediocre articles.
