Businesses have faced many financial hardships during the pandemic. Fortunately, there are tax incentives available to mitigate this. The most significant is the Employee Retention Credit (ERC), a refundable payroll credit. Business taxpayers that experienced a suspension (full or partial) of operations or a reduction in gross receipts can claim this credit. This course will also cover the related Paid Sick Leave Refundable Credit, and Paid Family Leave Refundable Credit. These credits can be up to $62,220 per employee. This course provides an overview of each program and attendees will learn how to identify these opportunities for their clients.
Learning Objectives
• Determine the application of available business tax credits
• Identify qualified activities
• Design processes to capture tax credits
• Prepare proper documentation
• Calculate tax credits
• Report tax credits in return filings
Major Topics
• Employee Retention Credit
• Paid Sick Leave Refundable Credit
• Paid Family Leave Refundable Credit
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