$$ Credit Alert! Claiming the Employee Retention Tax Credit (ERTC)

claiming ERTCDuration: 60-minutes
Previously Recorded

The Consolidated Appropriations Act, 2021, signed into law on December 27, 2020, by former President Trump, significantly enhanced the benefits of the Employee Retention Tax Credit (ERTC). Not only did this legislation make retroactive changes to the credit, it also enhanced and extended the credit into 2021.

Many companies, especially those who participated in Paycheck Protection Program (PPP) loans, can now capture credits for wages paid during 2020 and receive even higher benefits for wages in 2021. Like most tax initiatives, the ERTC comes with complexities and interaction with other tax provisions.

Here is an example of how powerful the ERTC can be: 

50-employee company (38 on health insurance) + 5-week Shut Down in 2020 = $163,500 ERTC in addition to their PPP loan.

Don’t assume you do not qualify! We strongly encourage you to watch this webinar where we will provide you with an understanding of the ERTC credit, strategies to maximize the benefits, and how to benefit from other programs such as PPP, the Research and Development Tax Credit (R&D), and the Qualified Business Income (QBI) Deduction. Additionally, for those of you who perform government contracts, we will cover the impact of these credits on your certified overhead rate.

PLUS – all attendees will receive a beneficial tool to help determine if you qualify for these potentially significant credits.

Learning Objectives:

  • Understand the mechanics of the ERTC credit and how to qualify.
  • Learn how to calculate and apply the credit
  • Understand how the credit interacts with other tax provisions and how to maximize your benefits
  • Learn the impact of the credit on your company’s certified overhead rete.

$$ Credit Alert! Claiming the Employee Retention Tax Credit (ERTC)

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About the Presenters:

Tom Moul, CPA - Stambaugh Ness

Tom Moul, CPA | Director, Strategic Tax Services Group

Tom specializes in customized planning that increases tax efficiency by considering the unique big-picture needs and goals of each client. Working closely with companies, Tom outlines steps to minimize taxes, identify alternatives, and understand tax implications and structure transactions.

Additionally, Tom applies his tax expertise to clients who are conducting or considering conducting international business ventures. His love of sports has given Tom an appreciation for the positive impact of coaching which he applies to his every day work by helping and encouraging others.

 

 

Kelly Chambers, CPA - Stambaugh Ness

Kelly A. Chambers, CPA | Director, Entrepreneurial Services Group

Utilizing her diverse accounting and business background, Kelly provides accounting, tax, and consulting services to small businesses in varied industries, including specialized expertise in the Employee Retention Tax Credit. Wasting no time getting to the heart of the challenges facing her clients, Kelly works to develop innovative, customized solutions. As a bonus, she is proficient in accounting information systems including QuickBooks, Peachtree, and Business Works.

 

 

 

Kristi Weierbach, Ph.D., SPHR, SHRM-SCP - Stambaugh Ness

Kristi Weierbach, Ph.D., SPHR, SHRM-SCP | Managing Director, Workforce Advisory Services

Kristi focuses her extensive expertise on helping clients design a workforce that is not only prepared for the future, but one that leverages disruption to thrive and succeed. Weaving together a unique blend of anticipatory tools and insights with practical solutions, Kristi provides clients with an organizational architecture that empowers them for the NextGen.

 

 

 

Chad Bumbaugh, CPA - Stambaugh NessChad Bumbaugh, CPA | Managing Director, Entrepreneurial Services Group

During his career, Chad has worked with many different types of businesses on a wide range of tax and accounting issues. Beyond the traditional compliance work, he assists clients with tax and general business consulting matters, as well as implementations of new accounting pronouncements. He particularly enjoys opportunities to strategize with clients on how to more efficiently conduct operations, improve cash flow, and minimize tax burdens. The relationship which develops when you partner with clients to identify practice solutions is one of the highlights of his position.

 

Jen Nelson, CPA - Stambaugh NessJennifer Nelson, CPA, MDA | Managing Director, Tax Group

Jennifer leads clients through the complex world of federal, state and international taxation of corporations, partnerships and individuals. Additionally, she provides tax research, consultation, and compliance in the areas of accounting methods, international tax, multi-state taxation, tax credits, depreciation, entity selection and structure, and overall strategic tax planning and advisory services. In short, she knows a thing or two about taxes.

 

Mindy Toole, CPA, CGMA, CDA | Stambaugh NessMindy Toole, CPA, CGMA, CDA | Director, AEC Tax Practice

Mindy is not interested in being a “jack-of-all-trades” accountant. She is all AE, all the time, and her knowledge of the industry runs deep. Formerly an owner at both T. Wayne Owens & Associates, PC and TWO CPAs & Consultants, Inc., Mindy has handled many complex projects for AE firms during her career and understands the nuances that exist in the AE world. Some of her many client success stories include the time she helped a firm save nearly $9 million through a well-executed change in accounting method from accrual to cash, handling the tax side of the sale of a large multi-state engineering firm to a publicly-traded company, and successful M&A deals.

Steve SnyderSteve Snyder, CPA, CCIFP | Director, AEC Group

As Director, Steve’s concentration is on assisting clients within the architecture, engineering, construction and real estate development industries to improve internal processes and maximize profitability. Clients also benefit from his extensive experience auditing employee benefit plans ranging from 100 to 5,000 employees. In addition to his technical competence, Steve is an avid Penn State football fan and expert tailgate.