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Maximizing the Employee Retention Credit

March 1 @ 2:00 pm - 3:00 pm EST

Free
Free ADP CPE Webinars

Participants of the live webinar will be eligible for 1 free CPE credit.

Register

Date: Tuesday, March 1, 2022
Instructor: Greg White

Begin Time: 11:00am Pacific Time
12:00pm Mountain Time
1:00pm Central Time
2:00pm Eastern Time
CPE Credit: 1 hour for CPAs
1 hour Federal Tax Law Updates for EAs and OTRPs
1 hour Federal Tax Updates for CTEC

 

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

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