Year-End Medical Plan Strategies For Physician Practices All physician practice owners with one to 49 employees should have a medical plan in their business. Sure, the tax law does not require you to have a plan, but you should. Most of the tax rules that apply to medical plans are straightforward … [Read more...]
The Hammer Falls on PPP Funded Expenses
PPP Funded Expenses The IRS confirmed our fears and clarified that if expenses are funded with a PPP loan that hasn’t yet been forgiven, that doesn’t mean they can take the deductions this year. “If a business reasonably believes that a PPP loan will be forgiven in the future, expenses related … [Read more...]
Home Office – Extra Rooms for Your Business Use
Home Office With the COVID-19 pandemic still going on, you as a physician or practice manager may be spending more time working from your home office. You may have taken some extra rooms for your business use. Is that okay? Section 280A(c) states that you may claim a home office based on the … [Read more...]
Medical Practice Embezzlement and the Sleeping Watchdog
Medical Practice Embezzlement Thirty – fifty years of age, married with a stable family situation, above average education, professional or managerial staff level … who does this describe? According to recent research, it describes the profile of most fraud perpetrators –those most likely to … [Read more...]
Four Important Estate Planning Documents for Physicians
Four Estate Planning Documents that a Physician Needs Katherine Dorval, an attorney at Bowditch & Dewey gives a great reminder that many people (especially physicians in my opinion), think they don’t need “estate planning” because they don’t have enough assets to generate an estate tax; … [Read more...]
CMS Expansion of Telehealth Services During COVID-19
Medicare & Medicaid Telehealth Services The Centers for Medicare & Medicaid Services (CMS) expanded the list of telehealth services that Medicare Fee-For-Service will pay for during the coronavirus disease 2019 (COVID-19) Public Health Emergency (PHE). CMS is also providing additional … [Read more...]