Webinar: Understanding the Employee Retention Credit and Forgivable PPP Loans
With the signing of the Consolidated Appropriations Act (CAA), the Employee Retention Credit (ERC) was significantly enhanced for construction business owners. Under the CAA, the ERC has been extended through 7/1/21.
Originally, the ERC was set to expire on 12/31/20 and was not available to businesses that received Paycheck Protection Program (PPP) loans. With the extension, business owners may claim ERC credits as well as obtain forgivable PPP loans (so long as they don’t include the same payroll expenditures for both programs).
As part of the ABC New Jersey webinar series, Stephen Slade, CPA, and treasurer of ABC NJ, and Adrienne Straccione, CPA, both partners with Wouch, Maloney & Co., LLP, will explain:
- the requirements businesses must satisfy in order to qualify for the credit;
- the rules for calculating the credit;
- how to incorporate ERC credits with PPP loan forgiveness; and
- the PPP taxability issue.
When: Thursday, February 11, 2021
Time: 4:00 pm – 5:00 pm
Cost: Free to ABC NJ members
To register, click here.