Webinar: The Employee Retention Credit – A Construction Contractor’s Perspective
Friday, February 5, 2021
8:30am - 9:30am
On December 27, 2020 President Trump signed into law a new $900 billion round of coronavirus-related relief to help businesses and individuals struggling with the ongoing effects of the pandemic. Within the provisions of the law is a new enhanced refundable credit opportunity - the Employee Retention Credit - which has the ability to provide a cash funding source for Construction Contractors that have been and continue to be impacted by the pandemic.
For Construction Contractors, the original Employee Retention Credit is available retroactively from March 12, 2020 to December 31, 2020 and the new enhanced credit is available from January 1, 2021 to June 30, 2021, even if your company received PPP loans under rounds 1 or 2. Since many Contractors were impacted by shut-down orders during the early days of the COVID crisis, there is a significant chance that many will qualify for this credit retroactively back to 2020. Contractors could also qualify for the credit in 2021 with a reduction in their gross receipts in 2021 compared to 2019.
This informative webinar provides an overview of the Employee Retention Credit and how this will benefit the construction industry. Agenda items include:
- How construction companies will qualify for the credit retroactively to 2020 and how they can be eligible in 2021
- A discussion of qualifications under the shut-down orders and how they may impact your construction company’s eligibility for the credit
- How the credit is calculated under the existing and enhanced new rules
- The various options to claim the credit
- The interaction of claiming the credit with PPP loan forgiveness
Click here to download the slides.