Timothy Watt, a Tax Partner and member of Bennett Thrasher’s Real Estate practice, was recently quoted in an Accounting Today article focused on the employee retention credit (ERC) and its impact on Paycheck Protection Program (PPP) eligibility.
Accounting Today sought out experts from several accounting firms, including Bennett Thrasher, to talk about how they are helping clients navigate the changes and complexities of the PPP and ERC programs. The article notes that initially, the PPP and ERC programs were viewed as separate programs, but legislation passed in December has given employers the option to participate in both.
“First and foremost, we’re advising [our clients] to evaluate the PPP loans first,” said Watt. “I think they’re far superior than the employee retention credit, [for] not only the economic benefit but the tax benefit as well. Then we’re helping
You can read more about the latest PPP and ERC developments as well as Watt’s additional thoughts in the full article, which is available here.