ERC, Extenders and Other Late Changes

ERC, Extenders and Other Late Changes
Speaker: Laura Strombom, EA
Learning Level: Basic
Prerequisites: None
Advance Prep: None

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More information about this event

Description: Just when you think you are ready for tax season, along comes more tax law changes. On Dec. 27, 2020, the Consolidated Appropriations Act was signed into law. Not only was this law the federal budget for the current fiscal year, it was also a Coronavirus Relief Act. This class will explore the changes resulting from the Act so you are up to date with the latest version of the laws when you tackle this upcoming tax season. Among the biggest changes: the opportunity to take Employee Retention Credits (ERC) even if a PPP loan was used. The ERC is extended into the first two quarters of 2021 with even better rules. This course will include several real-life examples of how to address various ERC issues. This will be the majority of the course focus. Additional changes with the Act involved additional stimulus payment, PPP loans, meals deductions and extender provisions.

Learning Objectives

  • Learn how the new stimulus payment coordinates with the earlier stimulus payment.
  • Recognize when an employer may qualify for ERC credits.
  • Learn how to calculate ERC credits in various scenarios.
  • Distinguish which forms to use to claim the ERC in different scenarios.
  • Recognize which tax provisions have been extended and for long.
  • Understand the new meals rules.

About the Speaker
Laura graduated from UC Davis with a BS Degree in Animal Science. She took accounting courses as part of her course work and found she enjoyed the process of accounting. After graduation she took a management position working for a major entertainment retailer where she learned many key business management processes. After a stint as bookkeeper and then controller with her family’s businesses, she decided that starting her own business could be her next challenge. So on a leap of faith Laura started her own company named All About Numbers.

Laura also graduated from Golden Gate University in April 1999 with an Executive Masters in Business Administration. Laura became an Enrolled Agent and in 2010 became a Fellow of the National Tax Practitioner’s Institute. She also began teaching at Heald College and now does tax seminars throughout the country.

 

When
1/21/2021 5:30 PM - 7:30 PM