In this workshop, you will learn the basic principles in understanding eligibility requirements for the Employee Retention Credit. Clyde Mackey, with Ray Tax Group, has worked with many clients in successfully obtaining Employee Retention Credit refunds. After working through the calculations, it is surprising to discover how many businesses are eligible, and the amount of credit they can receive.
- Brief history of the COVID legislation related to Employee Retention Credit (ERC) and Paycheck Protection Program (PPP)
- Eligibility requirements for the ERC for both 2020 and 2021
- Overview of the mechanics of the PPP loan forgiveness
- Basic mechanics of the ERC calculation for both 2020 and 2021
- Tax implications of the ERC
This class is targeted to business owners who retained employees during the 2020 calendar year.
Clyde Mackey, CPA - Tax Principal, Ray Tax Group