We will provide an overview of the Paycheck Protection Program (PPP) forgiveness and  Employee Retention Tax Credit (ERTC) rules. The PPP forgiveness overview will include identifying eligible expenses, FTE and Wage reduction calculations, safe harbors, and using the correct forgiveness application. ERTC will include determining eligibility, calculating and receiving the credit, and reporting the credit in financial statements. The session will also include suggestions and guidance on maximizing both PPP forgiveness and the ERTC credit when the covered periods overlap.

Learning Objectives:

  • Understand eligible expenses for receiving PPP forgiveness
  • Understand the safe harbors, exemptions, and forgiveness reduction calculations and the different forgiveness applications
  • Understand eligibility criteria for the ERTC
  • Learn how to calculate, receive and report the ERTC
  • Learn how to maximize both PPP forgiveness and ERTC

Presenter: Dawn Minotas, Director, Accounting Services, Marcum LLP
CPE Category: Taxes
Level: Basic
Prerequisites or advance preparation: None