Our Blog and News
This Month’s Posts
Summary of Proposed Tax Law Changes
Looks like tax changes are on the way. Below are some of the recommendations that President Biden’s team and the House Ways and Means Committee have each proposed recently that will impact the federal income taxes paid by successful healthcare professionals if...
Check Out B of A’s Record Low Interest Rate Offer For Dental Practices
Just like the baseball and football season, the fall is where things really start to heat up in the Dental Practice Acquisition market. To that end, Bank of America is launching an extremely low interest rate loan product for dentists who are seeking financing to...
HRSA Announces Phase 4 of the Provider Relief Fund
More stimulus money is now available to small healthcare practices. According to HRSA at: https://www.hrsa.gov/provider-relief/future-payments: On September 29, 2021, health care providers will be able to apply for $25.5 billion in relief funds, including $8.5 billion...
HRSA Announces 60-Day Grace Period For Provider Relief Fund Self-Reporting Submissions Due 9/30
Medical and other healthcare providers who received more than $10k in Provider Relief Funds prior to 6/30/20 are required to self-report by 9/30/21 that those funds were utilized correctly. Due to very lackluster self-reporting submission rates, HRSA recently...
Exclusive Offer For Our Dental Practice Clients Using Antiquated Practice Management Software
Do you: Return to the office to complete an e-script after hours? Find yourself paying for server upgrades and experiencing server crashes? Spend 30 minutes waiting for a patient to complete their forms? Still schedule one phase at a time for a treatment plan? Never...
Last Month’s Posts
Update On The ERC
One more ERC update as we prepare to contact our practice owner clients with an approximation of the amount of the Employee Retention Tax Credit their practice should be eligible to receive. Earlier this month, the IRS announced that the wages of owners of more than...
Third Quarter Estimated Taxes Due 9/15 – Consider Paying Online
Our friends at the IRS continue to be way behind with processing their mail. Believe it or not, that includes many checks that the IRS has received in the mail since COVID hit last March. For that reason, if you pay quarterly estimates, consider making those payments...
SBA Launches Direct Forgiveness Portal To Streamline PPP Loan Forgiveness
Great news if you feel your PPP lender is making the loan forgiveness process too complicated. The SBA recently announced that they set up their own Direct Forgiveness Portal “to streamline forgiveness processing for PPP Borrowers. After registration, you may use this...
Exclusive Offer For Schwartz & Schwartz Clients Using PracticeWorks or Softdent
Are you currently using PracticeWorks or SoftDent and looking for an effective way to move into the 21st century with a more robust cloud-based alternative? How about unlimited data storage that eliminates the need for future costly server upgrades? Maybe it’s time...
Looking For A Practice in Downtown Boston
If you or one of your colleagues is hoping to purchase a general dentist office in downtown Boston, please email andrew@schwartzaccountants.com and we will reach out to you with information on this well established and very profitable practice in the next few weeks....
Posts From Our Professional Network
A Strategy To Go Out Of Network With A Pro And Become An Unrestricted Provider
By Cirrus Dental. (www.mycirrusdental.com) As dental industry trends change, many dentists are realizing their relationships with dental insurers are not necessarily beneficial to them or their patients. And, as they review their financial situations, some of these...
Create A Winning Plan
Guest Writer Brenda Loan Baker, Executive Coach, Fortune Management Northeast Here we are, the first week of January. The traditional time goals for the new year is upon us! What is the difference between the people who set their goals and reach or surpass them and...
Using Donor Advised Funds for Charitable Giving (12/31 Deadline)
By Alex Oliver, CFP, CRPF, Wealth Advisor - First National Corporation With Giving Tuesday on the horizon and as you make your final gifts for 2020, I want to suggest an increasingly popular tool for your charitable contributions. First, it should be emphasized that...
Alex’s Advice Corner – Year end Reminders
From Alex Oliver, CFP, CRPS - Wealth Advisor - First National Corporation With two months to go until 2021, First National Corporation wants to ensure you are doing everything within your financial plan to mitigate taxes. Here are a few quick reminders to consider as...
Real Estate Conversations To Boost Practice Profitability During COVID-19
By Guest Writer: Stefan Zelich, Broker, CARR Healthcare Every landlord is different. Same goes for every deal too. We’ve seen some landlords give concessions we typically wouldn’t, whiles others are now willing to budge off their pre-Covid pricing. How to approach a...
Tabitha’s Tips: Convenient And Inexpensive Patient Payment Plan Option
By Guest Writer - Tabitha Lugo, Shelley Renee Practice Consulting Q: I have a quick question for you. We wanted to see if you can give some guidance or any resources regarding payment plans and specifically payment plan arrangement documents. For example, we have an...
Five Steps to A Successful Dental Employee Performance Appraisal
From Guest Writers Mariana Diaz, Executive Coach and Don Khouri, Managing Director, Fortune Northeast Creating and setting a culture that welcomes consistent feedback is crucial to improving team dynamics for many reasons. First, it helps to develop a sense of...
Out From Behind the Covid Wall – From Guest Writer Brenda Loan Baker
From Guest Writer Brenda Loan Baker, Executive Coach, Fortune Management Northeast On every social media platform you can find numerous memes about 2020 being the worst year ever. For most of us this lock-down has been going on since mid-March, seven months now. To...
Great Promotion From Our Friends at Bank of America Practice Solutions
Stefan Green and Dave Miller of Bank of America Practice Solutions recently notified us of their low interest rate promotion of just 1% for 18 months and then fixed for the remainder of the term at 3.43%. To qualify, please apply by 12/1/20. According to Stefan, "Dave...
Tabitha’s Tip: Best Practices To Handle Old Patient Receivables – From Guest Writer Tabitha Lugo
Q: I've been in practice for over 20 years and my books are full of uncollectible Accounts Receivables. Do you have any best practices for how to handle this? A:?What I usually suggest to clients is that once they turn an account over to a collection agency, or in...