As we continue to update you on the latest news and changes, please take a look at the following list of important links. BUSINESS CLIENTS Coronavirus Tax Relief | Internal Revenue Service – www.irs.gov/coronavirus Disaster Loan Assistance – https://disasterloan.sba.gov/ela/Information/Index Industries Affected by Coronavirus (COVID-19) – https://verticaliq.com/covid-19/ SBA Specific Resource – https://www.sba.gov/funding-programs/disaster-assistance COVID-19 Working Captial Access…Read More→
Author: adrian
COVID-19 03-25-20 BULLETIN RELEASE – RECENT TAX BILL & OTHER UPDATES
As we have done with the information being issued by the Federal Government regarding the COVID-19 Emergency, we also would like to continue to keep everyone up to date on other changes and how we, the DentalCPAs team, are working with our clients. We learned this morning that another piece of legislation has been passed…Read More→
Families First Coronavirus Response Act
March 23, 2020 We know as health care professionals you are scrambling to get information on “Families First Coronavirus Response Act” passed by the United States Senate and signed by the President. The bill addresses a host of issues related to the Coronavirus national emergency. This information was issued on the IRS Newswire dated…Read More→
COVID-19 Update-03-18-20
ATTN CLIENTS: We are sure your emails have been flooded with updates from everyone, however, we’d be remiss if we didn’t share some of the recent developments and provide ongoing tips for those that may be impacted by this crisis. During any time of crisis, knowledge is invaluable so make sure you stay informed with…Read More→
COVID-19 Tax Relief Legislation – Part 1
Attention Clients: As news changes daily regarding the COVID-19 (Corona) Virus, we are sure all of you have questions regarding tax relief legislation. We are monitoring pending legislation in Congress. The bill that was passed by the House of Representatives last Friday has yet to be approved by the Senate. At this time nothing definitive…Read More→
Last Minute Income Tax Tips for Dentists, Part 2: Credits and Deductions
You probably heard about the tax and spending bill that Congress passed in December 2019. One of the biggest components of it is set to dramatically change retirement planning, and dentists should be paying attention. The deadline to fund an IRA with retroactive contributions is April 15, and with the SECURE Act in mind,…Read More→
What happens when your year-end bonuses don’t get applied to the correct tax year?
You called your payroll provider on December 20th with your year-end bonuses and thought all was good. A month later your accountant contacts you and says your payroll doesn’t tie; your year-end bonuses weren’t included in the year they should have been. Recently one of my clients had this problem. I was doing their…Read More→
Last Minute Income Tax Tips for Dentists, Part 1: Get Ready for Tax Season!
Tax season is upon us, friends, and it’s time to send in all your receipts, reports, and forms to your CPA. Before you finalize your return or schedule your extension, we have some last minute tax tips that may help make your tax season, and the rest of the year, less stressful and slightly…Read More→
QuickBooks Tips for Dental Practices
Whether we’re working with a new dental client or fixing the financial reporting of an existing one, there have been a handful of common mistakes that we see so often, we thought we’d record them in a blog so you can avoid the same mishaps. Dental bookkeeping doesn’t have to be hard or overwhelming; in…Read More→
Bookkeeping Tips for Dental Practices
For anyone who’s not an accountant, and even some who are, organizing financials is tedious. In a dental practice, you have to properly code expenses, assign billing categories, and produce timely financial reports all on top of running a practice. Here are some suggestions for how dental practices can become better organized, more efficient,…Read More→