PracticeCFO Comments on the ERC Credit and PPP2

Dear Clients & Friends of PracticeCFO, We wanted to quickly address two follow-up comments with the recent Consolidations Appropriates Act: The Employee Retention Credit (ERC): This credit is quite interesting to us. In our first calculations, it can be significant. It requires no certification (like PPP2), is now eligible even if you received PPP1, and can be applied for retroactively. If your office was “partially or fully suspended due to COVID-19 orders from an...Read More

PPP2 Applications And CCA Updates

Dear Client & Friends of PracticeCFO, Two items in this release: Updates to our prior guidance about the recently passed legislation:  We were incorrect regarding the moratorium on student loan payments. Per Studentaid.gov: “After the student loan payment suspension ends 1/31/21, no payment will be due before 2/22/21.” However, it appears your student loan payment will be due after that and auto-withdraws will continue. The employee retention tax credit: You are...Read More

Paycheck Protection Program (PPP2) And Other COVID-19 Updates For Dentists

Dear Client & Friends of PracticeCFO With yesterday’s newsletter introducing many new details to the Consolidated Appropriations Act of 2021 (the latest COVID-19 relief package signed into law), we wanted to expand further on what exactly these points mean. Please tune in to our latest video, led by Wes, where we clarify in detail what to expect with this latest round of PPP. You can listen to it as a podcast or watch as a screencast. Watch...Read More

New Legislation on PPP Round 2 and other COVID-19 Stimulus

Dear Clients and Friends of PracticeCFO, Well, the New Year is starting off with some excitement.  Around 10% of our clients across seventeen states are now reporting staff getting COVID-19 – and in all cases, believed to have been contracted outside the workplace.  Prior to December, we could count these stories on one hand. Thankfully, everyone seems to recover quickly and vaccines are on their way in 2021! Hot Topics for this Newsletter: The new Stimulus Bill signed 12/27/20 and...Read More
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