National Limousine Association (NLA) President Robert Alexander will welcome guest speaker Walter Pennington of Dembo Jones Certified Public Accountants on April 29 at 2 p.m. ET to discuss the Employee Retention Credit and how it can work for this industry. The session, called The ABCs of ERC, will focus on several key areas:
- Wages that will qualify for the ERC are increased to $10,000 per employee per quarter
- The credit calculation increase to 70 percent of wages paid to an employee
- All wages will qualify for businesses with less than 500 full-time employees
The ERC under the CARES Act (2020) encouraged businesses to keep employees on their payroll with a refundable tax credit paid by an eligible employer whose business has been financially impacted by the pandemic.
The livestream is open to any member of the industry on the NLA’s Facebook page.
Visit limo.org for more information.