Join Gettry Marcus CPA, P.C. and Campolo, Middleton, & McCormick, LLP for our continuing webinar series on the recently passed Economic Aid Act (“EAA”), which has amended the Paycheck Protection Program (“PPP”) and now includes an Employee Retention Credit (“ERC”). The EAA has provided updated guidance regarding the first round of PPP loans (“PPP 1”) and announced provisions with respect to businesses applying for a second PPP loan (“PPP 2”) and the Employee Retention Credit.
Some of the key areas that will be discussed include:
PPP 1 and PPP2:
• SBA deadlines to apply for PPP 1 and PPP 2 loans through March 31, 2021
• Business type eligibility (and ineligibility) including certain non-profit organizations
• SBA affiliation rule overview
• Calculating the maximum PPP loan borrowing amount
• PPP loan terms, maturity date, and loan forgiveness application deadlines
• Updated definition of the “Covered Period” to utilize a PPP loan
• And more…
Employee Retention Credit (“ERC”):
• Extension and expansion of ERC
• Determining factors of qualifying for the ERC
• Financial reporting periods impacted that may qualify for the credit
• Calculating the credit
• Impact of having both a PPP loan and qualifying for the ERC
Christine Malafi, Esq., Senior Partner at Campolo, Middleton, & McCormick, LLP
Lee Ferber, CPA, Partner at Gettry Marcus CPA, P.C.
Nicholas Backmann, CPA, Manager at Gettry Marcus CPA, P.C.
Andrew Moore, CPA, Senior Manager, Gettry Marcus CPA, P.C.Time
DATE: January 15, 2021
TIME: 10:00 AM