Marketing is Important Now The incomes of many medical practices have been impacted by COVID-19 and will continue to be impacted as the healthcare industry continues to go through its own changes and new payment patterns begin to evolve. The result could be that in the future there is stagnation or … [Read more...]
Mid-year Tax Planning Strategies for Physicians
Personal Tax Planning Strategies I hope that you and your loved ones are safe as you deal with the current COVID-19 crisis. What an incredibly difficult year this has been! This most recent tax season was unlike any we’ve ever experienced. With the spring deadline postponed until July 15, it may … [Read more...]
Will my PPP loan be forgiven in whole or in part?
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) added the Paycheck Protection Program (PPP) to provide economic relief to small businesses nationwide adversely impacted by the Coronavirus Disease 2019 (COVID-19). The PPP is implemented by the SBA with support from the Department … [Read more...]
Navigating COVID-19 as a Physician Practice
The COVID-19 outbreak has had a crippling effect on the global economy. This is clearly uncharted territory. As millions around the globe do their best to minimize their exposure to the virus, physician practices and their managing partners face an uncertain and stressful future. We are all … [Read more...]
Expenses Paid With Forgiven PPP Loan Proceeds Not Deductible
Medical Practice Tax News - COVID-19 The Paycheck Protection Program (PPP) included in the CARES Act allows businesses with 500 or fewer employees to receive loans to pay payroll costs, rent and certain other expenses. PPP loans can later be forgiven if the employer retains its employees and … [Read more...]
Important Fraud Reminders During the COVID-19 Crisis
Fraudsters are taking advantage of these uncertain times caused by COVID-19 by impersonating the CDC, SBA, IRS and other government and healthcare organizations. Whether you’re running a business or managing your personal finances, it is important to stay alert. Here are some helpful reminders you … [Read more...]