Understanding the Employee
Retention Tax Credit:  Get the Most for Your Small Business

Thursday, June 10th at 1:00pm

Join the U.S. Small Business Administration and the RI Society of Certified Public Accountants (RISCPA) on Thursday, June 10th at 1:00pm for critical updates on this Employee Retention Credit (ERC), including changes enacted in December 2020 in The Taxpayer Certainty and Disaster Tax Relief Act of 2020.

Employers are urged to take advantage of the newly-extended ERC, which made it easier for businesses to keep employees on the payroll during COVID-19, but many do not know where to begin.  Under the recently enacted American Rescue Plan (ARP) Act, and previously under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the ERC can now be claimed through December 2021 by eligible employers who retained employees during the COVID-19 pandemic.

Anthony Mangiarelli, CPA, MST, Director of KLR Enterprise Solutions Group, will discuss the tax credit programs for small business including the changes to the ERC that modified and extended the program for six months through June 30, 2021. As a result, eligible employers can now claim a refundable tax credit against the employer share of Social Security tax equal to 70% of the qualified wages they pay to employees between January 1 and June 30, 2021. An amount that can total up to $14,000 per employee, per quarter.

Be sure to bring your questions as there will be plenty of time for Q&A at the end of the presentation.

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