mphillips007 / iStock / Getty Images Plus
New Rules Published By the IRS Can Help Dentists Receive More Economic Relief
Dentists can receive relief from the Employee Retention Tax Credit (ERTC) and potential full forgiveness of their Paycheck Protection Program (PPP) loans based on new rules published by the IRS.
On today’s episode of The Art of Dental Finance and Management podcast, Art discusses the ways that dentists can not only receive potential full forgiveness of their round one PPP loans, but also receive up to a $5,000 per employee with the ERTC. New Treasury guidance was recently published (Notice 2021-20) which explains in greater detail to help dentists and other small business owners best utilize the available funding.
In the episode, Art reviews:
- Background on the PPP loan rules
- How to determine when to file for PPP loan forgiveness
- Who is eligible for the ERTC
- How to calculate the ERTC
- Strategy for dentists to use wages paid for PPP loan forgiveness and ERTC
Reach out to Art if you have any questions regarding dental finance and management for your dental practice.