The new law passed in Late December of 2020 created the possibility to get both the PPP loan and the Employee Retention Credit at the same time. It also extended and expanded the credit into 2021.
This can equal a large credit which will reduce your payroll taxes equal to the dollar amount of the credit amount you qualify for. In this video I discuss the rules and how this can mean reducing your payroll taxes substantially. For one of my clients I estimate it can be up to $50,000.