Join Gettry Marcus CPA, P.C. and Campolo, Middleton, & McCormick, LLP for our continuing webinar series on the recently passed Economic Aid Act (ā€œEAAā€), which has amended the Paycheck Protection Program (ā€œPPPā€) and now includes an Employee Retention Credit (ā€œERCā€). The EAA has provided updated guidance regarding the first round of PPP loans (ā€œPPP 1ā€) and announced provisions with respect to businesses applying for a second PPP loan (ā€œPPP 2ā€) 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 ā€œCovered Periodā€ to utilize a PPP loan
• And more…

Employee Retention Credit (ā€œERCā€):
• 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

Program Panelists:

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