Somerset CPAs and Advisors will present three workshops focused on financial statements, incentive compensation, and Paycheck Protection Program (PPP) loan forgiveness tax implications.
The three sessions will be available during the 2020 RV Dealers Virtual Convention/Expo, Nov. 9-20 and hosted by RVDA, RVDA of Canada, and the Mike Molino RV Learning Center.
“What You Need to Do that Your CPA Hasn’t Told You – Financial Statements for Non-Accounting Execs” will be the topic covered by speaker Steve Blake and will be available on-demand throughout the virtual event.
A second session, “Utilizing Incentive Compensation as an Alignment and Retention Tool” will be covered by Howard Cox of Somerset. Cox will introduce a financial model to align the interests of all stakeholders (employees, financing partners, shareholders, etc.). To do this, he recommends generating an incentive pool that is motivating for identified high performers, creates a target return on investment to shareholders, and protects the sustainability of the overall enterprise by recognizing the requirement for a strong balance sheet.
This session will also be available on-demand.
“PPP Loans: Will You Owe Taxes? What You Need to Know” will be presented by Jane Saxon, who leads the Somerset Dealership Team, beginning at 11 a.m. ET on Monday, Nov. 16. The session will provide an update on Paycheck Protection Program loan forgiveness guidelines and share recommendations to maximize forgiveness, while minimizing risk of rejection or partial forgiveness by the Small Business Administration (SBA).
After its initial live presentation, this workshop will be made available on-demand.
A catalog of on-demand sessions, Vendor Training +Plus workshops, and all virtual exhibit booths will be available to access anytime from the beginning of the show through Jan. 31, 2021.
Follow the convention on social media using the hashtag #RVDAConEx. For more information or to register, click here.
