Our Blog and News
This Month’s Posts
Estimated Taxes Due 6/15/22 for 2nd Quarter 2022
If we set up for you to pay quarterly estimated taxes, please make your Q2 payment by June 15th. Generally, taxpayers who are self-employed, are shareholders in S-Corporations that typically pay out distributions in addition to the wages paid to the owners, partners...
EPLI Can Pay Huge Dividends If A Disgruntled Employee Sues your Practice
The purpose of insurance is to protect against extraordinary or catastrophic financial losses. One potential loss to consider is when a terminated or disgruntled employee hires an attorney to sue your practice for wrongful termination or for an array of other...
PPP2 Loan Forgiveness Applications Should Be Submitted Soon
If you haven’t already filed for forgiveness of your PPP2 loan, please do so soon. Otherwise, your PPP2 lender will require that you begin making payments on that loan. Any payments made will be refunded when the PPP loan is ultimately forgiven, but why not just...
IRS Reminds Employers About Special Tax Credits To Help Employers Hire Staff
From IRS News IR-2022-104, May 6, 2022 WASHINGTON — With many businesses facing a tight job market, the Internal Revenue Service reminds employers to check out a valuable tax credit available for hiring long-term unemployment recipients and other groups of workers...
How To Save $100,000 On Your Expiring Lease
By Guest Write Stefan Zelich, President/Founder of FOCUS Healthcare Realty Rent is typically a dental practice’s 2nd or 3rd highest expense behind payroll, but it’s also one of the most negotiable. This ability to negotiate one of the highest expenses to a practice...
Last Month’s Posts
Help – I missed the tax filing deadline!
Did you miss this year's personal tax filing deadline?Unfortunately, the IRS does not simply look the other way with regard to taxpayers missing the tax filing deadline. Not filing your taxes by the due date will result in the following assessed IRS penalties for...
Health Savings Accounts Keep Getting Better
Contributing to a Health Savings Account is unique by allowing for tax-deductible contributions combined with tax-free distributions. No other tax-advantaged savings opportunities allow for both. With each passing year, HSAs continue to gain in popularity. To be...
I-Bond Alert: Interest Rate Jumps to 9.62% For The Next Six Months
We first wrote about I-Bonds in an article included with our November Newsletter available at:...
ELT (Entity Level Tax) Update
Last year around Thanksgiving, Massachusetts issued regulations for the new Entity Level Tax that allows Mass S-Corps and Partnerships to essentially pay the personal Massachusetts income taxes for their owners as a deductible business expense to the practice. The...
IRS Reminds Taxpayers Of Penalty Relief Related To Claims For the ERC
If you received an ERC for 2020, we’ll be preparing an amended 2020 tax return this summer for you to report the amount of the ERC received as a decrease to deductible wages. Expect to owe taxes of about 35% of the ERC received with the amended tax return. While...
ERC (Employee Retention Tax Credit) Update
Finally, our clients are now receiving IRS Notices as well as checks from the IRS for the Employee Retention Tax Credit based on the paperwork we prepared and our clients signed and submitted months ago. The good news is that it appears that the IRS is processing the...
Client Spotlight: Karen Leitner MD Coaching: Life Coaching For Women Doctors
Why did you decide to become a coach for women physicians? Doctors — and women, frankly — are notorious for deprioritizing themselves. I have three daughters and I don’t want to normalize this for them. Society holds us to a very difficult standard in terms of how we...
Posts From Our Professional Network
EPLI Can Pay Huge Dividends If A Disgruntled Employee Sues your Practice
The purpose of insurance is to protect against extraordinary or catastrophic financial losses. One potential loss to consider is when a terminated or disgruntled employee hires an attorney to sue your practice for wrongful termination or for an array of other...
PPP2 Loan Forgiveness Applications Should Be Submitted Soon
If you haven’t already filed for forgiveness of your PPP2 loan, please do so soon. Otherwise, your PPP2 lender will require that you begin making payments on that loan. Any payments made will be refunded when the PPP loan is ultimately forgiven, but why not just...
IRS Reminds Employers About Special Tax Credits To Help Employers Hire Staff
From IRS News IR-2022-104, May 6, 2022 WASHINGTON — With many businesses facing a tight job market, the Internal Revenue Service reminds employers to check out a valuable tax credit available for hiring long-term unemployment recipients and other groups of workers...
How To Save $100,000 On Your Expiring Lease
By Guest Write Stefan Zelich, President/Founder of FOCUS Healthcare Realty Rent is typically a dental practice’s 2nd or 3rd highest expense behind payroll, but it’s also one of the most negotiable. This ability to negotiate one of the highest expenses to a practice...
5 Methods for Curing Imposter Syndrome
From Guest writer Brenda Loan Baker, Fortune Management Have you ever felt like you're not good enough to do the job you've been hired to do — and that everyone might figure it out at any moment? Or maybe you've felt like you're only pretending to be an adult who's...
New Hiring and Training Grant Available for MA Employers
Recently, the Governor of Massachusetts announced a new employer grant program to boost hiring. Called "HireNow", the program provides eligible employers with a $4,000 per employee grant, which can be used to cover training costs or as a signing bonus for new...
Three V’s to Success and Happiness
By guest writer George Baker, Fortune Management Have you met that person who seems to have it all and just isn’t happy? They lack vim and vigor. They complain, blame, and carry on about what’s wrong and who is at fault. My prescription for these folks is the 3 V’s to...
CE for Dental Staff is Both Their And Your (the Dentist’s) Responsibility
From Russell Kane, Dental Office Compliance of New England Several dentists have told us recently that dental staff members are responsible for fulfilling their biennial continuing education requirements before their next license renewal. That’s true but it’s also the...
Dental Office Compliance Of New England Is Here To Help
Do you know what you need to satisfy all state and federal regulations? Dental Office Compliance of New England is here to help you and reduce your stress. Lisa Kane DMD and her team customize all of your OSHA, CDC, and HIPAA policies. They have an online portal...
Five Structural Components Your Practice Must Have
Your house has a structure. Most new homes use metal framing, and some older homes are supported by wood beams. The basic components of your house’s structure are the foundation, floors, walls, beams, and columns. Similarly, your practice has a structure. The...