RIoT Lunch & Learn: Monetizing Employee Retention and R&D Credits
Please join Marty Karamon and Chris Delcambre of Cherry Bekaert LLP for in-depth discussions on how to navigate, qualify for, and best utilize the ERC and R&D credit tax benefits available to start-up and established businesses alike for 2020-2021.
Employee Retention Credits (ERCs): There are five separately-calculated ERCs available to eligible employers that have been disrupted by government orders due to COVID or suffered declines in gross receipts in 2020 and 2021. The credits come in the form of refundable payroll tax refunds. The ERC is a benefit that can be taken in addition to PPP funding. The ERC can provide a benefit of up to $48,000 per employee. The largest benefits are reserved for companies that had an average of 500 or fewer FULL TIME employees in 2019. These credits can be monetized as payroll tax refunds or as an immediate reduction in payroll tax remittances.
Research & Development (R&D) Credits: R&D Credits are now a permanent part of the Internal Revenue Code; however, most companies do not understand the benefit provided or how qualification of the benefit can be obtained. For qualifying start-up businesses, R&D credits can be monetized immediately against payroll tax even if the company has yet to be profitable or have an income tax liability.
This event is in-person and lunch will be provided.
Cherry Bekaert Speakers:
Martin Karamon, J.D., LL.M.
Principal, Tax Advisory Services
Christopher P. Delcambre, CPA
Partner, Tax Services