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? …Read More→
Author: adrian
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…Read More→
COVID-19 – 07-01-20 BULLETIN RELEASE – PPP Loan Forgiveness & Provider Relief Fund
Forgiveness Application After much anticipation, the SBA has released new forgiveness applications and additional guidance regarding the recent changes put in place with the Paycheck Protection Program Flexibility Act (PPPFA). The SBA provided two applications and related instructions – the abbreviated Form 3508EZ and the detailed Form 3508. Both applications clearly allow for the 24-week…Read More→
Should I convert some or all of my taxable IRA money to a Roth IRA?
While this has been a very common question for many years it seems to be making a strong return in 2020 due to Covid19. The possibility of lower taxable income for some people who have been laid off or who’s businesses might experience a steep decline in income has generated a renewed interest in this…Read More→
Practice Transitions With COVID-19
Just as the US is starting to re-open from this pandemic so are dental practices across the country. Dental practices are faced with a new set of protocols along with a new set of overhead expenses known as PPE. While many practice owners are processing this new norm and implementing these new procedures in their…Read More→
COVID-19 – 06-10-20 BULLETIN RELEASE – PPP Loan – Revised Flexibility Act
Looking back at the COVID whirlwind, the original PPP loan legislation was rapidly drafted and signed into law the week of March 23, 2020, which was concurrent with many State Governor’s forcing business closures and issuing stay at home orders due to COVID. The timing of these events was a disaster to the PPP loan…Read More→
Payroll Protection Program (PPP) Loan Questions – It Depends
That’s the answer we, as CPAs, have to give many times when responding to questions on a forums board or chat groups on many types of questions, whether its income tax-related, practice transition, paying an associate, or staffing issues. It’s no different from PPP loan questions. Sure, there are some one-size-fits-all answers to questions like…Read More→
COVID-19 – 05-19-20 BULLETIN RELEASE – PPP Loan Forgiveness Further Guidance
Late in the day, Friday, May 15, 2020, the SBA came out with the instructions and application borrowers will use to request PPP loan forgiveness from their lender. While this new information provides some welcomed relief to pieces of the forgiveness puzzle for many, it falls short in answering all outstanding questions that still remain…Read More→
COVID-19 – 05-04-20 BULLETIN RELEASE – PPP Loan – IRS Guidance
Just when we thought things were settling down a bit, bad news from IRS Chief Counsel’s office hits at the end of last week in Notice 2020-32. This Notice details the IRS position on “covered expenses” paid which qualify for PPP loan forgiveness, and whether those covered expenses are deductible business expenses. The IRS has…Read More→
Key Factors to consider When Selecting An IT Services Provider
As a dental practice owner, choosing an IT services provider is one of the biggest decisions you can make to ensure the security of your practice and patient’s confidential information. Your technology partner should be a close advisor on the IT services you need now and, in the future, based on a clear understanding of…Read More→