On Thursday, September 23rd, The Plumb Club hosted a live webinar featured the following expert panelists: Howard Hoff, Partner-in-Charge, Commercial Business Group, and Jay Brower, Partner, State and Local Tax Leader from the top 50 accounting, tax and advisory firm, Marks Paneth LLP. The program was moderated by The Plumb Club’s Executive Director, Lawrence Hess.

The webinar focused on the Employee Retention Credits (ERC) and its interplay with the Payroll Protection Program (PPP) forgiveness calculation available to the jewelry industry. Further, the panelists drilled down on the parts of the CARES Act and the Consolidated Appropriations Act that jewelry retailers need to know as it pertains to the ERC and PPP loan forgiveness.

Attendees gained insight and knowledge on:

• Qualifying for and claiming ERC for your business for 2020 and 2021
• Optimization analysis of the interplay of the PPP loan forgiveness applications and the ERC being requested
• Taxation of the ERC received – how it works, and best practices

“Many retailers may feel that the resources available to help with issues related to the pandemic have been exhausted at this point,” says Hess. “There are still a number of opportunities that retailers can avail themselves of. This timely webinar will help them understand and optimize the help that’s still available.”