Employee Retention Tax Credit: A Hands-On Guide to Maximizing the Latest Tax Benefit (1 Hour Webinar)

Overview: 

The Employee Retention Credit (ERC) offers a substantial refundable tax credit to qualified employers, including those who plan to apply for forgiveness of Paycheck Protection Program (PPP) loans. Designed to help businesses impacted by COVID-19, the latest legislation increases the ERC limit on per-employee creditable wages, reduces year-over-year gross receipts decline, and is open to new employers who were previously ineligible. In this webinar, we will show you how to:

  • Maximize the tax benefits of ERC, together with PPP loan forgiveness and other government programs
  • Compute the ERC
  • Claim the tax credit
Objective: 

To provide tax professionals and qualified business owners with guidance on how to maximize the tax benefits of the Employee Retention Credit (ERC), together with Paycheck Protection Program (PPP) loan forgiveness and other government assistance programs.

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Emphasis: 
  • What is Employee Retention Credit?
    – Eligibility
    – Calculating the credit
    – Qualifications
    – Startup businesses
    – Form 941
    – Changes under new legislation
  • Applicable Employers
  • Full & Partial Shutdowns
    – Requirements
    – Notice 2021-20
    – Essential businesses
    – Remote working
  • Significant Decline in Gross Receipts
  • Qualified & Non-Qualified Wages
  • Health-Plan Expenses
  • Impact of Other Programs
    – Work Opportunity Tax Credit
       (WOTC)
    – PPP loans
  • Form 941-X
    – Computing the credit
  • The American Rescue Plan
  • Taxability of the ERC
     
Bottom
Prerequisite: 

None.

Preparation: 

No advance preparation required.

Level of Knowledge: 

Overview.

CPE Credit: 
2.00
NASBA Field of Study: 
Taxes