Maximizing the Employee Retention Credit-03/01/22 (2PM ET) (Currently Unavailable)

Join expert, Greg White, CPA, as he covers the employee retention credit. This credit is now available for taxpayers who have received PPP loans.

Who Should Attend
New and experienced CPA’s who practice in the tax area.

Topics Covered

• Infrastructure Investment and Jobs Act (HR 3684)
  • Repeal of the credit for the 4th Quarter of 2021
  • Exception to the repeal: Recovery startup businesses
• Shareholders' wages and eligibility for the credit
• Calculation of the credit for 2021
• Election 80% Rule
• The "two-for-one" election
• Definition: Gross Receipts
• Deductibility of wages related to the credit and exclusion for the receipt of the credit itself
• It's not too late to claim the credit on Form 941-X for applicable periods

Learning Objectives

• Identify clients who qualify for the employee retention credit
• Recognize how to compute the credit
• Recognize how to allocate wages between PPP forgiveness and the retention credit
• Identify an advantage of using the prior quarter for the 80% test
• Recognize which types of situations would a business qualify for a partial suspension

Level
Update

Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (1 hour)

Program Prerequisites
Basic understanding of tax preparation.

Advance Preparation
None