Here’s news to help you in a constantly changing business environment, including who can take advantage of the Employee Retention Tax Credit under round two of the CARES Act; where your business can get free services; how to use the new Clubhouse app, and more.

1. Tap into PPP and claim the Employee Retention Tax Credit (ERTC) — In the first round of PPP, employers were not allowed to claim the ERTC. However, the second round allows small businesses to get both. See which companies qualify.
2. Small Business Development Center (SBDC) expands free services — The Michigan SBDC has doubled its staff and expanded free services to aid businesses affected by the COVID-19 pandemic. See how you can get support for accounting, e-commerce/website development, human resource support, and more.
3. Maximum SEP IRA contribution is higher for 2021 — Self-employed business owners can save 25% of net income in a SEP IRA, up to $58,000 in 2021. This is $1k more than in 2020. Get the details.

4. How to use the buzzy new Clubhouse app — Clubhouse allows users to share audio clips with each other in virtual “rooms” and fans of the app say it feels like an interactive podcast. Find out how to use Clubhouse for your business.

5. Make Zoom chats chattier — Zoom chats aren’t limited to text! You can use emojis, attach files, send individual messages and save copies of Zoom chats. Discover how to get the most out of Zoom chat.

Thank you to our Friday Five sources: Entrepreneur, Grand Rapids Business Journal, Kiplinger, U.S. Chamber of Commerce and Zapier.

Do you have business banking questions? Contact our knowledgeable commercial loan officers online or call 800-991-2221. We’re also available to help in person at your local office.

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