News
Stereotypes About Dentists That Aren’t Always True
As a dentist, you probably already know and understand that there exist stereotypes about dentists that could bring about hesitancy for people to visit your dentist office. As much as people may acknowledge that oral health is as important as other types of health, many are ambivalent about undergoing any type of dental procedure, and…
Read MoreGood News for Dentists! – HHS Extends Deadline
you may be eligible for an additional sum of 2 percent of your annual reported patient revenue from the enhanced relief fund. The deadline for application has been extended from July 24 to August 3rd, 2020.
Read More5 Keys to Taxation and Provider Relief Payments
HHS announced plans to distribute $15 billion from the Provider Relief Fund targeted to eligible providers that participate in state Medicaid and CHIP programs and have not yet received a payment from the Provider Relief Fund General Distribution. This funding will supply relief to Medicaid and CHIP clinicians experiencing lost revenues or increased expenses due to COVID-19. Additional payments will also be made to safety-net hospitals.
Read MoreCares Act Education Benefits
If an educational fringe benefit would help you attract or retain employees, then you will be interested in a little-known section of the CARES Act. It allows an employer to pay and deduct up to $5,250 of an employee’s higher education student loan debt – both principal and interest, if paid by December 31, 2020. The benefit is not taxable to the employee.
Read MoreTop 10 PPP Loan Forgiveness questions, ANSWERED!
The SBA’s PPP was created to save America’s core economic engine and largest employer, small business. PPP loans are providing immediate cash to incentivize small businesses to keep and rehire their employees. If small business qualification criteria are met, the PPP loan amount is based upon 2.5 months of payroll. Loans are able to be 100% forgiven if the borrower follows SBA guidelines. Initial guidelines stated loans received needed to be spent on payroll and other qualifying expenses during the 24 week period after the loan was received. Payment on any remaining balance post loan forgiveness begins from the date the lender receives forgiveness funds from the government. Ask your lender for details The Interest rate on unforgiven amounts is a whopping low 1% with five-year payment terms, and no collateral or personal guarantees are required.
Read MoreUPDATED: 3 Keys to Understanding, SBA, EIDL, and PPP Stimulus
For-Profit Businesses with under 500 team members CARES Act reduces concern about having to furlough employees.SBA advance loan application is simplified, with no forms to submit.Payroll Protection Program loan application process launching this week Key 1 – SBA Economic Injury Disaster Loan (EIDL Advance Loan/Grant) Should I Apply for the SBA up to $10,000 Loan…
Read MoreThree Decision to Make Now for When Doors Open Again!
We want you to know that we are open and working either in the office or remotely. We are, however, taking precautions to protect the well being of our team members and clients. We are committed to putting you in the best financial position possible through proactive tax, consulting, and accounting regardless of the outside…
Read MoreMaster Cashflow in a Crisis
Be prepared DrillDown Solution Cashflow in a crisis Heather Porter: Our mission and our goal are that you will walk away with at least one action item but, hopefully, a lot more, you can take care of in your practice. Stephen Nance: I know you’re in a crisis. We all are. the dental industry has…
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