Guest Writer Don Khouri, Managing Director, Fortune Management Northeast As healthcare practices continue to reach out to patients who need to be scheduled, one of the biggest challenges they face is the wide variation in comfort level their patients have about coming back in for treatment. We are finding that many patients are reluctant to… Continue reading Seven Ways To Get Your Reluctant Patients Back
Blog and News
Attestation Matters For The HHS Provider Relief Fund Subsidy
Many of our clients have already received the HHS PPE subsidy equal to 2% of practice revenue reported on their most recently filed tax return. Along with the money showing up in their bank account, these practice owners also received a request to submit an attestation that the funds will be used properly. We have… Continue reading Attestation Matters For The HHS Provider Relief Fund Subsidy
New Book And Website Launched To Help Dentists With Their Finances
Congratulations to our long-time client Dr. Sam Shamardi for writing and publishing his book: “The Financial Survival Guide for Dentists”. “As you know all too well, dental school doesn't prepare us at all for business, which is our biggest issue by far. My book finally addresses these issues and more and provides the solution graduating… Continue reading New Book And Website Launched To Help Dentists With Their Finances
9/15 Deadline For Q3 Estimated Taxes Will Be Challenging For Practice Owners
2020 has been a crazy year for taxes. The 2019 filing deadline was pushed back from 4/15/20 to 7/15/20. Q1 and Q2 estimates normally due 4/15/20 and 6/15/20 were also pushed back to 7/15/20. For some practice owners, July 15th was a very expensive day for taxes. Now, just two months after all those taxes… Continue reading 9/15 Deadline For Q3 Estimated Taxes Will Be Challenging For Practice Owners
Dental Practice Opportunities
#1: Turnkey Office Opportunity in East Boston Turnkey opportunity! Small number of patients with lots of potential. Great location in East Boston. Office space is approximately 1200 sq. ft. and all operatories have lovely street views. The office uses Easy Dental software, has three operatories, and includes: digital intraoral digital panorex machine two Marus new dental chairs one… Continue reading Dental Practice Opportunities
Values Collision: How To Ruin A Great Day At Work
By Guest Writer Don Khouri, Managing Director, Fortune Management Northeast Have you ever had a day like this? You prep for your Monday morning team huddle; notes, handouts, metrics – everything is just the way you like it. It’s 7:45 AM and you are ready to go! Then, two critical team members want to discuss… Continue reading Values Collision: How To Ruin A Great Day At Work
Two Electric Vehicle Programs to Save You $$
Electric Vehicle Charging Station Tax Credit Retroactively Extended Prior to 2018, taxpayers were allowed a tax credit for the costs incurred related to installing an electric vehicle (EV) charging station in their primary home. This tax credit expired the end of 2017. However, little known to many taxpayers, the EV charging station tax credit was… Continue reading Two Electric Vehicle Programs to Save You $$
Installment Plan Available to Pay Your Tax Bill
Given the current economic dilemma facing taxpayers as a result from the COVID19 pandemic, many taxpayers may be looking at a tax balance owed for their 2019 taxes that they are unable to pay in full in 2020. If you are faced with a tax balance due for your income taxes and you cannot pay… Continue reading Installment Plan Available to Pay Your Tax Bill
Trump Issues Executive Order Allowing Employees To Defer Paying Some Taxes
Over this past weekend, President Trump issued an Executive Order allowing your employees earning less than $4k per bi-weekly pay period to defer having Social Security and Medicare taxes withheld from their pay starting September 1, 2020 through the remainder of 2020. Please note that as things currently stand, your employees will somehow need to… Continue reading Trump Issues Executive Order Allowing Employees To Defer Paying Some Taxes
NH Healthcare System Relief Fund Application Is Due 8/13/20
Practice owners with offices in New Hampshire (NH) should be aware that they only have until August 13th to complete the online application to tap New Hampshire’s COVID-19 Emergency Healthcare System Relief Fund (CEHSRF). Info is available at: https://www.goferr.nh.gov/covid-expenditures/healthcare-system-relief-fund. According to that website: The Governor has authorized the allocation and expenditure of a total of… Continue reading NH Healthcare System Relief Fund Application Is Due 8/13/20
PPP Forgiveness FAQS From Our Friends At TD Bank
Below is a list of "Frequently Asked Questions" put together by our friends at TD Bank to help answer some of their clients’ questions. This info should be helpful to anyone who received a PPP Loan. Loan Forgiveness Q: How do I apply for loan forgiveness? TD Bank will have a digital application process for… Continue reading PPP Forgiveness FAQS From Our Friends At TD Bank
Best Year Ever
By Guest writer Don Khouri, Managing Director, Fortune Management Northeast After ten weeks of staying at home (except for an occasional trip to the supermarket), my hair was pretty long. When I finally got my haircut, I only needed one haircut. I didn’t need two or three. One did the trick. Dentistry is different. The… Continue reading Best Year Ever
8/31 is Deadline to Repay Any Required Minimum Distributions Taken in 2020 Including From Inherited IRAs
Another recent development gives people until 8/31/20 to repay any Required Minimum Distributions taken so far in 2020, including RMDs from inherited IRAs. According to the IRS at: IR-2020-127, June 23, 2020 WASHINGTON — The Internal Revenue Service today announced that anyone who already took a required minimum distribution (RMD) in 2020 from certain retirement accounts… Continue reading 8/31 is Deadline to Repay Any Required Minimum Distributions Taken in 2020 Including From Inherited IRAs
This Sat – Open House – Great Practice For Sale
We started working with our first dental practice clients back in 1995. Since then, we’ve worked with hundreds of practices, and many of those for as long as our client owned the practice. Without exaggeration, this practice located on Route 20 between Routes 95 and 495 is truly one of the best GP practices that… Continue reading This Sat – Open House – Great Practice For Sale
Fortune Management Shares How To Avoid The 2020 Hygiene Disaster
Don Khouri, Managing Director, Fortune Management Northeast Most dental practices proactively pre-appoint their hygiene patients for their next visit. For healthy patients, that means six months from now and for perio patients, 3 months from now. Let’s think about this for a minute. If you were not seeing hygiene patients from March 16 to on… Continue reading Fortune Management Shares How To Avoid The 2020 Hygiene Disaster
Deadline To Apply For The HHS PPE Subsidy Extended To 8/28
Good news for procrastinators. The deadline to apply for this subsidy has been pushed back until 8/28. We posted information about this subsidy at: https://www.schwartzaccountants.com/2020/07/7-24-deadline-to-apply-for-the-hhs-ppe-subsidy-equal-to-2-of-2019-collections/. The U.S. Department of Health and Human Services (HHS) PPE Subsidy is now available to ALL dental practices to help fund the purchase of the necessary protective supplies needed to… Continue reading Deadline To Apply For The HHS PPE Subsidy Extended To 8/28
Coronavirus-Related Opportunities For People With Retirement Plans And IRAs
The CARES Act provides for easy access to IRAs and other retirement plans for anyone who “experienced adverse financial consequences as a result of closing or reducing hours of a business that you own or operate.” Sounds like a great opportunity, right? Let’s start by saying that retirement accounts for working people should be used… Continue reading Coronavirus-Related Opportunities For People With Retirement Plans And IRAs
Try Not To Be Skeptical To Gov’t Subsidies Being Offered To Healthcare Practices
For 2 months or so, people throughout the U.S. were mostly quarantined in their homes which substantially reduced the number of visits made for medical and dental services. For the Medicare and Medicaid systems, that means that very little money was spent during those few months. The federal government is looking to find ways to… Continue reading Try Not To Be Skeptical To Gov’t Subsidies Being Offered To Healthcare Practices
Looking For PPE?
The word is that PPE is once again becoming challenging to obtain. One of our non-healthcare clients, GreenStreets USA Inc, a distributor of paper and cleaning products to businesses throughout New England, New York and New Jersey, notified me that they have stocked up on PPE and are now offering various deals to Schwartz& Schwartz… Continue reading Looking For PPE?
Deadline To Apply For The HHS PPE Subsidy Extended To 8/3
The U.S. Department of Health and Human Services (HHS) PPE Subsidy is now available to ALL dental practices to help fund the purchase of the necessary protective supplies needed to safely practice. Please apply for this HHS subsidy known as the Provider Relief Fund (PRF) at: https://cares.linkhealth.com/#/. The deadline to apply for this subsidy has… Continue reading Deadline To Apply For The HHS PPE Subsidy Extended To 8/3