PPP and the Employee Retention Credit (ERC)

COVID-19

PPP and the Employee Retention Credit (ERC)New legislation from the Consolidated Appropriations Act, 2021 creates a chance for some companies to take advantage of both Paycheck Protection Program (PPP) loans and the Employee Retention Credit (ERC). Several changes specific to the ERC can provide an opportunity for additional relief for companies. The significant changes that…

PPP 1 VS PPP 2

Assurance, COVID-19, Tax Strategies

PPP1 is winding down but for some there are still considerations. Since the tax liability on the PPP loan has been eliminated, but the expenses used to offset the PPP1 funding can be deductible, this could create a Net Operating Loss. The CARES Act included a Net Operating Loss Carryback feature. In short, if your…