As commercial cleaning companies and their clients push for cleaner and safer spaces, the world is slowly becoming a better place to enter into again.
But with the incredible cost of supplies, safety is not just a matter of “want”. Many commercial cleaning companies are struggling to make a profit margin due to the massive increase in costs associated with protecting their cleaners, as well as their client’s spaces from COVID or any other potential future threat.
We are happy to hear that everyone from businesses, nonprofits, independent contractors, and self-employed individuals will all qualify for the tax credit.
“The Health, Economic Assistance, Liability Protection, and Schools Act or HEALS Act would establish a refundable payroll tax credit equal to 50% of an employer’s “qualified employee protection expenses,” such as testing for COVID-19, protective personal equipment (PPE), cleaning products or services, qualified workplace reconfiguration expenses, and qualified workplace technology expenses.”
This is what we know is in the new tax credit:
The amount of the credit is to be based on the employer’s average number of employees. In each quarter (3months of the fiscal year), qualified expenses should not exceed a cap based on the average number of employees. The cap would be equal to US$1,000 for each of the first 500 employees, plus US$750 for each employee between 500 and 1,000, plus US$500 for each employee that exceeds 1,000. The credit would apply to amounts paid or incurred for qualified employee protection expenses after March 12, 2020, and before January 1, 2021.
The one trillion dollar relief effort should be rolling out this coming monday (August 3rd 2020) and here’s what US representatives are saying:
A tip of the hat should go out to ISSA for “leading a coalition of more than 30 business groups together representing millions of employees to educate Congress about this bipartisan tax credit proposal. Additionally, more than 580 ISSA members and advocates have sent 3,670 emails to 375 elected officials urging them to support the reopening tax credit in the next federal stimulus bill.” Without their efforts and the pressure of janitorial company owners and industry suppliers (and related businesses) this may never have made it through the proposal stage. And we are so happy it has.
“The White House and Senate Republicans are working to finalize a coronavirus relief package ahead of a Monday rollout.
Treasury Secretary Steven Mnuchin and White House chief of staff Mark Meadows will be back in the Capitol on Sunday for a second day of meetings with GOP staff as they work to lock down the forthcoming proposal.”
Meadows added:
“[we’ve] been working through just some of the technical language” and had reached “an agreement in principle.”
A tip of the hat should go out to ISSA
“leading a coalition of more than 30 business groups together representing millions of employees to educate Congress about this bipartisan tax credit proposal. Additionally, more than 580 ISSA members and advocates have sent 3,670 emails to 375 elected officials urging them to support the reopening tax credit in the next federal stimulus bill.”
Without their efforts and the pressure of janitorial company owners and industry suppliers (and related businesses) this may never have made it through the proposal stage. And we are so happy it has.
For more information, check out more details HERE, and be sure to keep your eyes on Swept’s blog for all recent news related to the janitorial industry.
Swept helps empower the owners and operators of commercial cleaning companies with the information they need to run a successful cleaning company. Having started as a commercial cleaning company ourselves, our hearts go well beyond the janitorial software we offer. Want more info and tips on the janitorial bidding process? We’ve got you covered HERE, and HERE! Learn more about Swept’s cleaning company software HERE. And to keep up on all future updates, as well as trends in the janitorial services industry, subscribe to our blog!
