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Maximizing ERC and PPP Wages

  • AFSP
  • CPA (US)
  • EA
  • Tax Preparer
  • Course Description
  • Course Qualification
  • Presenter
  • Faq

Course Description

Course Description

The Consolidated Appropriations Act, 2021 expanded the Employee Retention Credit (ERC) for 2021 and opened the door for retroactive credit claims for 2020. The prior restriction on businesses with PPP loans not being able to claim the ERC was lifted, retroactively back to the beginning of the ERC in March of 2020. The legislation created two worlds: one for 2020, and then major changes for 2021.

The Paycheck Protection Program is now out of money, so no new applications are being accepted. But PPP remains a part of life for every tax pro and accountant. Issues such as applying for forgiveness, determining the "FTE" calculation, figuring out which forgiveness form to use, and even tax implications, are all still items we need to think about.

Recipients of Paycheck Protection Program (PPP) loans can now also take advantage of the ERC. Organizations with 100 to 500 employees are no longer restricted to wages only of employees not working, but all employees.

This CE/CPE tax webinar will look at how to properly allocate wages between the PPP and the ERC. We will look at several examples of how the allocations will work and what things you need to look out for when doing the allocations.

After looking at the allocations, this CE/CPE ERC webinar will also look at some of the structural laws surrounding the ERC.

Learning Objectives

  • To analyze how the ERC and PPP interact
  • To discuss how to allocate wages between ERC and PPP
  • To investigate the legal structure surrounding the ERC
  • To inspect if a business is partially shut down for the ERC.

Recommended For

  • This IRS-Approved CE/CPE webinar is recommended for CPA, EA, AFSPs, CTECs, Tax Professionals, Tax Directors, Tax Practitioners, and Tax Attorneys desiring to understand ERC and PPP wages.
  • This CE/CPE course is insightful for tax managers, CFOs, controllers, compliance managers, risk managers, and business owners.

Who Should Attend?

  • Annual Filing Season Program
  • Bookkeepers & Accountants & Tax Preparers
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Enrolled Agent
  • Maryland Tax Preparers
  • Oregon Tax Preparers
  • Tax Accountant (Industry)
  • Tax Attorney
  • Tax Director (Industry)
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 1 CE Credit for Oregon Registered Tax Preparers (ORTP)
  • 1 CE Credit for Maryland Tax Preparer (MRTP)
  • 1 CE Credit of Taxes for Enrolled Agents (EA) (Approval No. GEHNZ-T-00824-21-O)
  • 1 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
  • 1 CE Credit of Federal Tax Related Matters for California Registered Tax Preparers(CRTP) (Approval No. 6273-CE-0767)
  • 1 CE Credit of Taxes for Annual Filing Season Program (AFSP)

Presenter

About Presenter

Nicholas Preusch

Certified Public Accountant (CPA) Nicholas Preusch

Nicholas has worked with the Internal Revenue Service as a Revenue Agent and an Attorney with the IRS Office of Professional Responsibility. Nicholas has authored publications for the AICPA’s Journal of Accountancy, AICPA’s Tax Advisor, NATP’s Tax Pro Journal, and CCH’s Journal of Tax Practice and Procedure. He also co-authored a textbook, Tax Preparer Penalties and Circular 230 Enforcement, published by Thomson Reuters. Nicholas has been recognized as the Top 5 Under 35 CPAs in Virginia, and is a member of the  AICPA’s Tax Executive Committee. Nicholas is an adjunct professor at the University of Mary Washington. He is a graduate of Carthage College, University of Connecticut (M.S. in Accounting), Case Western Reserve University School of Law (J.D.), and Georgetown University (LLM in Taxation).

About Company

Nicholas Preusch

yhbcpa.com/

Nicholas Preusch, CPA, JD, LLM, is a tax manager with PBMares, LLP. Nicholas has worked with the Internal Revenue Service as a Revenue Agent and an Attorney with the IRS Office of Professional Responsibility. Nicholas has authored publications for the AICPA’s Journal of Accountancy, AICPA’s Tax Advisor, NATP’s Tax Pro Journal, and CCH’s Journal of Tax Practice and Procedure. He also co-authored a textbook, Tax Preparer Penalties and Circular 230 Enforcement, published by Thomson Reuters. Nicholas has been recognized as the Top 5 Under 35 CPAs in Virginia, and is a member of the VSCPA’s Tax Advisory Committee and the AICPA’s Tax Practice and Responsibilities Committee. Nicholas is an adjunct professor with the University of Mary Washington. He is a graduate of Carthage College, University of Connecticut (M.S. in Accounting), Case Western Reserve University School of Law (J.D.), and Georgetown University (LLM in Taxation).


Faq

FAQs content

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Ratings and Review

3.5

16 Ratings

Excellent

2

Very Good

3

Average

4

Poor

5

Terrible

2

ADA

Ana De Abreu, ACCT/BK, AFSP, CRTP

Jan 19th, 2022

Slides were not updating. It seems to be a prerecorded webinar, which is OK but slides were completely off. See chat for references and improvements

PW

Perry Weyser, CFP (US), CPA (US)

Dec 23rd, 2021

The speaker spent a lot of time working on an excel spreadsheet and I couldn't see what he was doing. There was a spreadsheet on my screen but it remained static the whole time. Also, one slide said the business owner can't have any living ascendants or descendants. That doesn't make any sense. I wanted clarification on that but never got it.

SH

Stephen Headley, EA

Jan 19th, 2022

Please have the instructor retape the webinar. The excel sheets during the presentation did not show what the instructor was trying to say.

WN

Warren Nadolsky, CPA (US)

Jan 19th, 2022

The presentation of the Excel portion of the event did not work.

RMMMM

Raymond M Magi M Magi, CPA (US)

Jan 19th, 2022

Given the inability to view the instructor Excel that he was working on the webinar was not helpful. I hope that we'll be able to view via a properly working webinar. If that's the case, would change the poor course responses to favorable. Thank you

Maximizing ERC and PPP Wages

$10

1 Credit

Subject Area

Taxes