The new federal stimulus package extended the Employee Retention Credit into 2021 and made this significant tax savings opportunity available to Paycheck Protection Program (PPP) borrowers.
On February 3, Grassi Franchise Advisors hosted a live webinar discussing how your franchise can look back at 2020 and ahead to 2021 to identify qualified employee wages, calculate the maximum tax credit and secure this immediate source of cash flow. Topics included:
- Comparison of the employee retention credit under the CARES Act and new stimulus package
- Eligibility requirements and limitations for PPP borrowers
- Determining employee count and qualified wages
- Strategies for maximizing credit amounts