This 15 minute video will review the new guidance recently issued for the PPP Loan and Employee Retention Credit (ERC), along with an HHS update and description of the Rosen & Associates PPP & ERC Optimization Program.
View Video HERE
PPP Second Draw loans
1) The SBA has stated that businesses with a 25% decline are deemed to have made a good faith certification of economic uncertainty.
2) Although the PPP Second Draw deadline is 3/31/21, some banks will stop accepting applications before then to allow for processing
3) If you qualify, please consider applying as soon as possible
Employee Retention Credit (ERC)
Guidance was issued earlier this week regarding the interaction between PPP and ERC. In order to maximize ERC without sacrificing PPP forgiveness, the two must be looked at together. If your practice qualifies for the ERC, your business and individual returns will likely need to be extended.
PPP Forgiveness
We continue to ask clients to wait to apply for forgiveness. We will begin assisting clients in May. Please be patient.
Rosen & Associates PPP & ERC Optimization Program
This program will run through and May & June, and longer if needed. It will assist practices in applying for PPP forgiveness, which at the same time calculating the maximum ERC refundable credit.
This program will be billed separately from your normal monthly billing.
Please continue to stay tuned for more videos to come.
Stay safe and healthy,
Mark Rosen
Contact Info:
Mark Rosen
Rosen & Associates, LLC
1800 West Park Drive, Suite 300
Westborough, MA 01581
RosenDentalCPA.com
info@RosenCPAGroup.com
508-926-2400
