Dan Kolosowski serves as Regional Vice President of 401(k) Markets for Transamerica. In this episode of the Team Business podcast, Dan joins the show to speak about ERC (Employee Retention Credit) and provides valuable information that all employers should understand.

Episode Highlights:

Dan discusses how CalSavers has led to a flood of new business to Transamerica. (2:02)

Dan explains the importance of having a top down approach in encouraging employees to save for retirement. (5:27)

Dan mentions that he just published a news article on some of the top retirement articles. (6:46)

Dan discusses the differences between doing CalSavers versus a traditional plan and the credits that you can get as an employer when choosing a traditional plan. (8:05)

Dan explains that if your company has filed for PPP, it is automatically pre-qualified for ERC. (12:37)

Dan expresses his desire to learn about and apply everything that will assist a company owner, particularly a small business. (13:58)

Dan talks about the ERC tax credits. (16:28)

Dan explains that one caveat to the ERC is that not like the PPP where you have to ask for forgiveness, but it is considered earned income. (22:08)

Dan mentions that the next time they chat, he will address R&D tax credits, which he thinks is even more exciting. (24:57)

Key Quotes:

“I always try to stay in the know with anything that's happening in the marketplace…And I just want to get anything that can help a business owner out, especially small businesses” - Dan Kolosowski 

“When I start referring clients over and I know they're in good hands, we're good. It just leads to more business.” - Dan Kolosowski

“The one thing the one caveat with ERC. It's It is not like PPP where you have to ask for forgiveness. Okay, you don't have to ask for and never apologize for your passion. So you don't have to qualify forgiveness. It is though, considered earned income.” - Dan Kolosowski

Resources Mentioned:  

Dan Kolosowski LinkedIn

Transamerica

Fusco & Orsini Insurance Services

Mike Fusco LinkedIn