A new law signed in late December 2020 makes restaurants eligible for an employee retention tax credit, even if they received a PPP loan.
Now, for any calendar quarter between March 13 and Dec. 31, 2020, a restaurant with 100 or fewer full-time employees may be able to access ERTC of up to $5,000 per employee. And, for the first two quarters of 2021, restaurants with 500 or fewer full-time employees may be able to access ERTC of up to $7,000 per employee per quarter. Read how it works.
Join the National Restaurant Association and tax experts at Covington & Burling LLP and BDO as they walk restaurant operators through how to take full advantage of PPP loan filing and forgiveness and will provide updates on recent developments in:
- Employee Retention Tax Credits for 2020 and 2021 (note: new rules might make you eligible for up to $19K per employee)
- Net Operating Loss carryback
- Qualified Improvement Property depreciation
Webinar is Wednesday, February 24, 2021 at 2 PM - Register
And, in case you missed the National Restaurant Association webinar "Taking a Shot at COVID-19: What Restaurants Need To Know About Vaccinating their Workforce," the webcast is now on-demand. Use this link to watch the webcast.