This video was really helpful. Thanks for sharing.

I think of the ABC rule as "AUTONOMOUS workers, performing tasks that are BEYOND the core business and who work for multiple other CUSTOMERS....ABC" Technically, a contractor does not have to be formally incorporated (with their own company) but they should be engaged in doing similar work for more than one client (ie: not just you). If you are their only customer, that might be enough to mean that they should be employees and not contractors!

Looking forward to watching!

Cool stuff, good voice, good speed.

Great and informative video! Would love to see guests join your show for real time Q&A about real life situations.

"Promosm" 🌺

If you're looking for the IRS link, it's here: www.irs.gov/coronavirus/employee-retention-credit-voluntary-disclosure-program

Hi, Dave!

The Internal Revenue Service issued a renewed warning urging people to carefully review the Employee Retention Credit (ERC) guidelines before trying to claim the credit as promoters continue pushing ineligible people to file. The IRS continues to see third parties aggressively promoting these ERC schemes on radio and online. These promoters charge large upfront fees or a fee that is contingent on the amount of the refund. And the promoters may not inform taxpayers that wage deductions claimed on the business' federal income tax return must be reduced by the amount of the credit. "While this is a legitimate credit that has provided a financial lifeline to millions of businesses, there continue to be promoters who aggressively mislead people and businesses into thinking they can claim these credits. Anyone who is considering claiming this credit needs to carefully review the guidelines. If the tax professional they're using raises questions about the accuracy of the Employee Retention Credit claim, people should listen to their advice. The IRS is actively auditing and conducting criminal investigations related to these false claims. People need to think twice before claiming this." The IRS has been warning about this scheme since last fall, but there continue to be attempts to claim the ERC during the 2023 tax filing season. Tax professionals note they continue to be pressured by people wanting to claim credits improperly. People and businesses can avoid this scheme, and by not filing improper claims in the first place. If the business filed an income tax return deducting qualified wages before it filed an employment tax return claiming the credit, the business should file an amended income tax return to correct any overstated wage deduction. Businesses should be cautious of advertised schemes and direct solicitations promising tax savings that are too good to be true. Taxpayers are always responsible for the information reported on their tax returns. Improperly claiming the ERC could result in taxpayers being required to repay the credit along with penalties and interest. The ERC is on the IRS Dirty Dozen list and based on my discussions with IRS personal they are starting to audit businesses that claimed the deductions. Do something now before it is too late.

Was this advice given before the end of the third quarter of 2021? Otherwise it’s too late.

Do you have to include restaurant revitalization funds to reduce Eric.

I have some questions how may I contact you?

This video is excellent, how do I ask you some questions? Thanks. I need help with both PPP2 and ERC.

is there a minimum employee wage headcount needed to have when using payroll for PPP loan forgiveness when you are trying to maximize ERC credit by selecting paychecks to use for each credit?

Never heard this generational interpretation before, can you explain further?

Thanks for saving my life *scoffedhacks* on telegram he’s the right vendor no doubting 👍

Thank you so much for this great information. I have a couple of questions with respect to ERTC 2021. One is the 20% sales reduction requirement. Is that something we compare 2021 vs 2019 or 2020 v 2019? The second is whether we can still get 2021 ERTC if we got the PPP 2 and decide to forgo its forgiveness even if they both cover the same payrolls.

How does it work for commission paid worker for FTE ? Thank you

Hi I have 50 employees and when I try to add additional rows, it asks me for a password to unprotect the spreadsheet. is it possible to get that password?

This is a great tool, and has been fully updated (August 20). Subscribe to this channel for future updates. And check out our "PPP & Stimulus Resource Center" for all kinds of help with the PPP and other government programs: www.diycfo.com/store

Great tool! Thanks for sharing

Hi sir..Is this method of accounting used only for internal purpose? If it's used only for internal purpose, we're accounting only for 364 days. In this case how to account for the one day in 365days/year and two days in 366 days/year

If you have problems with the link above, here's the full URL: fusecfo.com/diy-cfo/ppp-loan-forgiveness-calculator/

This series of videos will be updated on 05/23 to reflect the PPP Flexibility Act, and the new changes that came with the release of the Forgiveness Application form. Watch for a new link above.

I can't download calculator

Thanks for video. I'm told by the SBDC that the U.S. Treasury defines a FTE as any employee who works 40 hours per week or more. So, not sure what you're saying is correct.

I tried to download the new, but received the old version instead. Suggestions? Thank you

I have the Google sheets file you shared. .but do not have access to change anything.

hi, if we have 24 weeks to use PPP money what exactly is the day it will be starting? on the day of the fund deposit to your account or when your business is allowed to open again? thank you