As crazy as it sounds we are close to heading into the final Quarter of the year. This is an important time to review your current tax strategies to make sure they are fine tuned to maximize savings for 2022 along with having a discussion over what the practice landscape will look like in 2023. […]
TWC Cracking down on Dental Office Contractor Classifications
It is common for Dental Offices to have temp workers, that may work for a day, or a few days. Many dentists will just pay these workers with a cash or check at the end of the day instead of adding them on payroll. For the obvious reasons of the administrative aspect of setting up an […]
Retention Tax Credit Creates a Unique Opportunity for Dental Practices
Retention Credit combined with PPP Loans The COVID-19 shutdowns presented a unique challenge for dental practices. Thankfully congress acted quickly and dental practices were able to take advantage of the PPP loans. During the PPP fiasco, the congress also laid out the opportunities to use the Employee Retention Credit (ERC). However you had to pick one […]
PPP Forgiveness Sept 2020 Update
As we are nearing the last quarter of the year, businesses that received the PPP loan are now starting to get emails from their lenders to began gathering their documents to apply for forgiveness. Here are some points regarding our take on the timeline along with important dates to keep in mind. Possibly delay […]
PPP Loan Extended to 24 Weeks Impact on Dental Practices
Hope you and your families are doing well. Earlier this month the Senate passed H.R. 7010 to modify specific provisions related to the PPP Loan forgiveness. As expected the President signed it into law This is great news and honestly should have been done months ago! The changes will most likely allow dental practices to […]
Year End Tax Strategies for Dentists
As we move into the last Quarter of 2018, this is a great time to review your tax strategy with your Dental CPA. You should make sure your Dental Independent Contractor Business or your Dental Practice is taking advantage of the tax deductions available to dentists. Below are some Year End Tax moves to consider. […]