What You Should Know About the Employee Retention Credit (ERC)

EMPLOYEE RETENTION CREDIT (ERC) The CAA legislation provided some important updates to the Employee Retention Credit. Not only did this legislation extend the credit thru June 30 2021 but the credit is now retroactively available for all entities that paid wages during the periods of March 12 through December 31, 2020.    2020 CREDIT (AVAILABLE … Continued →

PAYCHECK PROTECTION PROGRAM (PPP) LOAN – ROUND 2

PAYCHECK PROTECTION PROGRAM (PPP) LOAN – ROUND 2 REQUIREMENTS The business must have fewer than 300 employees, including sole proprietors and other self-employed individuals. The business must have used or will use all of the original PPP Loan funds received The business must demonstrate not less than a 25% reduction in gross receipts for any … Continued →

YEAR-END TAX PLANNING – TO SPEND OR NOT TO SPEND

Recently, as I’ve been reading through some of the dental-specific websites like Dentaltown or FB groups, the usual topic of year-end practice spending for tax planning purposes are starting to pop up with mixed feedback. It’s a fairly common year-end planning strategy that many CPAs will throw out there (as a general concept), that is, … Continued →

Business Interruption Insurance – Do I have coverage for COVID-19 Losses?

Here we are several months into the Covid-19 Pandemic. Businesses have been applying and receiving a variety of loans and grants; SBA, local government grants, health and human service grants, business association grants, etc. But should our business insurance help cover our losses incurred by the closures and loss of business caused by the pandemic?   … Continued →

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The Age Old Question For a Dental Practice Buyer: Should You Pay For Potential?

This is a very common question we get with certain practice transitions and many believe the answer is easy, NO! Sometimes I’d agree and other times I would flatly disagree. Unfortunately, it depends on what the potential is and who’s selling it. I believe there are two types of potential when it comes to practice … Continued →

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