Maximizing the Employee Retention Credit

Author: Greg White

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

Publication Date: February 2021

Designed For
New and experienced CPA’s who practice in the tax area.

Topics Covered

• Relationship PPP Forgiveness and ERC
• Shareholders
• How Much Weight Do FAQ's Carry?
• Differences between the credit available for 2020 vs. 2021
• Election 80% Rule
• Two for One
• Definition: Gross Receipts
• Employee Retention Credit: Selected Fine Print

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
Self-Study

NASBA Field of Study
Taxes (1 hour)

Program Prerequisites
Basic understanding of tax preparation.

Advance Preparation
None