Understand Employee Retention Credit under the CARES Act
PRESENTER(s): Nick Preusch CPA
This program has been approved NASBA & IRS CPE Credit 2(Taxes)
Download Attendee MaterialConference Material (Password Required)
The Employee Retention Credit is a great way to bring revenues to your firm while helping your struggling clients with their cash flow. As part of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), some employers (including community banks) may be eligible for a refundable payroll tax credit, if certain criteria are met. The credit can provide up to $26,000 in wages paid per W-2 employee that the business has. This virtual conference will take you through the ins and outs of preparing these credits for your clients. We will help you to identify your clients that can potentially claim the credit, look at how to calculate the credit, and how to amend the proper forms to claim the credit.
- Understand how does employee retention credit work?
- ERC/ERTC strategies to retroactively claim the credit – it’s NOT too late!
- How to coordinate your business’ financial management with professionals, including your banker and CPA?
- Latest IRS guidance for small business.
- Determine ERC eligibility
- Calculate the amount of ERC
- Access and apply for the ERC
- Define strategies and mechanics to claiming ERC alongside PPP forgiveness
- Outline the extension of ERC—including new rules
- Identify who qualifies (and does not) for ERC
- How to apply for employee retention credit?
- What is the deadline for employee retention credit?
- Is the employee retention credit taxable income
- List new opportunities under ARPA for start-up businesses
- Name strategies for churning out those 941s (and 941-Xs and 7200s) to cash in
Credits and Other information:
- Recommended CPE credit – 2.0
- Recommended field of study – Taxes
- Session Prerequisites and preparation: None
- Session learning level: Basic
- Location: Virtual/Online
- Delivery method: Group Internet Based
- NASBA Sponsor: 146439
- IRS Course ID: PJGWS-T-00072-23-O
- Attendance Requirement: Yes
- Session Duration: 2 Hours
- Case Studies and Live Q&A session with speaker
- PowerPoint presentation for reference
Who Will Benefit:
- Enrolled Agents (EAs)
- Tax Professionals
- Other Tax Preparers
- Finance professionals
- Financial planners