3.4.21 Webisode: Understanding the Employee Retention Tax Credit
March 11, 2021
Understanding the Employee Retention Tax Credit
The BNP and experts from Tronconi Segarra & Associates LLP (TSA) discussed the federal Coronavirus Aid, Relief, and Economic Security (CARES) Act’s Employee Retention Tax Credit (ERTC).
The ERTC is a refundable tax credit created by the CARES Act to encourage employers impacted by the pandemic to keep their employees on the payroll. The federal relief legislation enacted in late December extended and enhanced the ERTC, making it available to even more businesses and nonprofits in 2021, while also making retroactive changes to allow employers who received a Paycheck Protection Program (PPP) loan in 2020, to take advantage of the ERTC as well.
BNP’s webisode with TSA will answer your questions about:
- Who is eligible for the ERTC?
- How is the credit calculated and claimed by employers?
- How it interacts with the PPP and other relief programs?
Watch the Presentation Below
Thank you to our presenters for their expertise:
The Buffalo Niagara Partnership is committed to providing employers with the latest information and resources to help you deal with COVID-19 and its impact on our community, state, and nation. Visit our Events Page and Resource Page, as they are updated regularly to provide you with the most current information.
Do you have specific questions related to running your business or your business unit? Visit the BNP Business Link, a question and answer forum for, and by, the Buffalo Niagara business community. Submit your questions and get expert answers on just about any topic from legal, IT, HR, NYS regulations, sales, marketing, communications, and more. It is quick, confidential, powerful, and convenient. The BNP Business Link can help you today.
Staff Spotlight: Meet Kenya Hobbs
We are pleased to welcome our new Director, Community Engagement & Equity Initiatives, Kenya Hobbs as our latest Staff Spotlight.
COVID-19 Bulletin: Tax Credits Available for COVID-Related Costs
Small businesses can now apply for a new tax credit to help offset COVID-19 costs. The $250 million COVID-19 Capital Costs Tax Credit Program will cover up to 50% of eligible expenses, for a maximum benefit of $25,000.
Staff Spotlight: Meet Stephanie Wehrlin
We are pleased to introduce Stephanie Wehrlin, BNP’s Assistant Event and Program Manager as our latest Staff Spotlight.
Stephanie has a specific focus on our Young Professional division, BN360. She creates an engaging platform for young professionals in the Buffalo Niagara region to connect, collaborate, learn, and be empowered.
Learn a little bit more about Stephanie in this brief Q&A.
Manufacturing Council Hosts: CHIPS+ Impact on WNY Manufacturers
The federal CHIPS and Science Act of 2022, known as CHIPS+, was signed into law by President Biden on August 9, 2022. This new legislation directs $52 billion toward renewing the heavily outsourced U.S. semiconductor manufacturing sector and reinvigorating U.S. chip research and development activities.