This session was originally presented on February 5, 2021
The overwhelming popularity of 2020’s First Draw Paycheck Protection Program eclipsed the benefit and use of the CARES Act’s other offering, the Employee Retention Tax Credit (ERTC). Earlier this year, the signing of the Consolidated Appropriations Act extended and changed the parameters of the ERTC, affording the possibility of great benefit to all companies affected by government mandated shutdowns and economic impact, regardless of whether they took or will take advantage of the PPP.
Join HUB International’s Tim Quin, David Natan of Newburg CPA and Jeff Plakans of Commonwealth Payroll & HR on Friday, February 5 at 1:00 PM for a panel discussion moderated by HUB’s Marc Mingolelli on why the ERTC is relevant now, and why you can’t afford to overlook it.
During this hour, we’ll cover important points such as:
- What is the ERTC and who qualifies?
- The 2020 Retroactive Opportunity vs. the 2021 Prospective Opportunity
- How ERTC and the PPP programs interplay
- How can my payroll company assist?
- How will this impact our business taxes?
- The two key areas requiring further guidance or clarification:
- Mechanics of applying PPP payroll expense usage (no double dip)
- Meeting the partial or full suspension requirement (provide IRS FAQ examples)
- Walk through various examples and/or high-level calculations
- P&C- Pandemic Update, Furloughed Employees, WComp etc.
- Q&A (questions received in advance not answered by above)
Marc Mingolelli, Director of Client Relations, HUB International
Tim Quin, Senior VP, Commercial Lines – Large and Mid-Market, HUB International New England
Tim has been providing risk management solutions to business owners and executive officers throughout New England for 20+ years. Tim currently serves as Senior Vice President of the Large and Mid-Market Commercial Lines unit of HUB International New England, LLC. In this role, Tim assists in all phases of insurance placement, claims handling and risk management activities for numerous companies with focuses in Real Estate, Retail and Hospitality. Tim’s full bio.
David Natan, Tax and Business Partner, Newburg CPA
David joined Newburg CPA in 1994 and is responsible for the Tax Compliance and Valuation divisions within the firm. With over 25 years of experience in the industry, David has progressive and diversified tax, accounting, and management advisory experience. David’s tax experience entails working with privately held businesses of all sizes and structure. The diversity of his clientele covers everything from entrepreneurs engaged with start-up opportunities to middle market multi-state and international businesses. David’s full bio.
Jeff Plakans, Founder and President, Commonwealth Payroll & HR
With over two decades of experience in the payroll and HR industries, Jeff’s experience in creating employer and employee solutions that have an efficient and user-centric focus is born of his own evolution as a business owner. As the President of Payrolls Plus from 2000 to 2005, Jeff helped guide the company’s explosive pattern of growth. In late 2005, Jeff helped oversee the merger between Payrolls Plus and software company Payroll Associates to form PayChoice, a national payroll provider. Jeff founded Commonwealth Payroll & HR in 2006 and is proud to offer a service that combines technology and service to meet clients’ varying needs. Clients come to Jeff for his depth of experience in making payroll processing complexities simple, while understanding the sanctity of the employer/employee relationship.