Maximizing the Employee Retention Credit Webcast [MERC]

Feb 10, 2021
Time: 1:00pm - 3:00pm

Subject:

Taxation

Credit Hours:

2.00

Price:

Member: $112.50
Non-member: $175.00

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Discussion Leader:

Greg White, CPA    more info

Greg White, CPA, has practiced tax accounting for more than 35 years. He is founder, shareholder, and President of CPA firm WGN, P.S. in Seattle, Washington, which serves a successful entrepreneurial client base. He also owns and operates State of the Art Tax, LLC, a tax education company. Greg is in his tenth year as an Adjunct Professor at the Golden Gate University’s Seattle Campus where he teaches Capital Assets, Tax Accounting and Individual Taxation. Greg is licensed to practice in and has argued cases before the U.S. Tax Court. He has been named a “Top 50” IRS Practitioner by CPA Magazine.

Greg has extensively presented tax CPE, predominantly on the west coast, over the last decade and has written and presented live courses and webinars for CCH and others nationally. He has presented tax topics in the Pacific Northwest on TV including spots on KOMO TV, King TV, and Northwest Cable News. He is frequently in contact with Treasury, IRS and other top government officials in Washington, D.C. as to late breaking guidance from the government and has been involved in making recommendations to them to help practically shape federal tax legislation and administrative guidance.

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Website registration for this course closes on February 9, 2021. To register after this date please contact the society at akcpa@ak.net or 907-562-4334.

Full Description

Maximizing the Employee Retention Credit Webcast (MERC)

February 10th, 2021 / 1:00 pm 3:00 pm Alaska Time

Is there a potential way to get your client up to $19k/employee and still have full PPP forgiveness for your clients? Don't file those 2020 business tax returns or PPP forgiveness applications until you have considered the employee retention credit for your clients. Join Greg White, CPA and George Koutelieris, CPA as they walk you through the employee retention credit provisions and how they will impact your clients now.

Overview:
The Consolidated Appropriations Bill signed into law on December 27, 2020 provided for 2 major changes as it relates to the employee retention credit:
1. Greatly expanded the universe of businesses who are eligible to claim the employee retention credit, including retroactively for 2020, and
2. Greatly enhanced the employee retention credit in 2021 when compared to 2020.

During this program you will learn:
1. How to determine if your client qualifies for the employee retention credit in 2020, 2021 or both.
2. The interaction of the employee retention credit and the Paycheck Protection Program loans and how to optimize both programs for your clients.
3. The differences between the 2020 and 2021 employee retention credit.
4. How the credit is reported, and the cash is received by your client.
5. How the 2020 employee retention credit impacts the 2020 income tax returns we will be preparing and the PPP forgiveness applications we will be assisting our business clients with.

Highlights:
Who qualifies to take the retention credit:
- The partial suspension rule
- The gross receipts test
- The impact of the credit on tax deductions
- Differences between the credit available for 2020 vs. 2021
-Interaction with PPP loans

Objectives:
- Identify clients who qualify for the employee retention credit.
- Compute the credit.
- Allocate wages between PPP forgiveness and the retention credit.

Designed For: New and experienced CPAs who practice in the tax area

CPE Credits: 2, Taxation

Level of Knowledge: Update

Prerequisite: None

Acronym: MERC

Discussion Leaders: Greg White, CPA & George Koutelieris, CPA