Provider Relief Fund Phase 3 Grant

Dear clients and friends, Yesterday, you may have received notification that the U.S. Department of Health and Human Services (HHS), through the Health Resources and Services Administration (HRSA), will be distributing up to $20 billion in Phase 3, as part of ongoing efforts to offer financial support to healthcare providers for expenses and lost revenues attributable to the COVID 19. Even if you received funds from HHS previously, you may be eligible to receive an additional amount. It’s...Read More

PPP Forgiveness

Dear clients and PPP recipients, Many of you are asking questions about receiving forgiveness of your PPP loans. Bottom line: There is no need to rush to apply for forgiveness. You have 10 months from the end of the 24-week period, accrued interest is small and will likely be forgiven, and we believe Congress will pass legislation simplifying the forgiveness application.  For the many of you who had PracticeCFO do your accepted PPP application, we will automatically process the...Read More

PPP Update and Status of Dentists Recovery

As many of you may know, shortly after our last global email, the Senate did in fact pass the new Paychex Protection Program Flexibility Act this past Friday. The president immediately signed it into law. All the provisions of the bill we outlined in our last global email, passed. The bottom-line of this new bill is that you have 24 weeks to use the PPP funds toward eligible costs. There are other provisions that ease the forgiveness requirements, but this is the most important. Considering...Read More

PracticeCFO Update on PPP: House Passes Bill Easing Forgiveness Requirements

Dear client, We’re happy to say that virtually 100% of clients that requested us to apply for their PPP, received the funds. They are now using these funds to operate the reopening of their practice. I’m proud of our team here at PracticeCFO and the way they mobilized to get the PPP money into your accounts. If you’ve been happy with how we’ve served you during this period or before, we would be exceptionally grateful if you would give your CFO advisor a quick online review with a few...Read More

PracticeCFO Global Update: PPP and EIDL

Dear client, Some of our clients are beginning to receive the PPP loan. Please notify us immediately if you do. We need to know the day you received the funds, as well as the amount. Congress should be passing additional funding to add $310 billion to the PPP program and $60 billion to EIDL.  So far, it has only passed the Senate, and details are still up in the air.  We’d like to give you a step-by-process in getting the loan, as well as reiterate key points to obtaining loan...Read More

Upcoming PracticeCFO Webinar for all Clients

Dear client,   PracticeCFO will be providing a national webinar to our clients and all invited dentists. In this important webinar, we’ll provide our financial recommendations during this time of COVID 19. Please join us. We believe it will answer many of your questions.   Fri, Mar 27, 2020 12:00 PM – 1:30 PM (PDT)   Webinar details Financial Planning for Dental Practice Owners Through COVID-19 Explaining unemployment, sick, and medical leave laws related to C19, and how...Read More

Popular COVID-19 Questions and Answers (Q&A) for Dentists’ and Dental Practice Owners

Dear clients Here is another set of questions you’ve all been asking, and our answers to those questions: As an employee of my corporation, should I file for unemployment? Technically you’re eligible if you meet the requirements outlined by the EDD here (for CA clients) and in some cases it will make sense. However, some thoughtful consideration should be given to the following factors: The work performed as “emergency” or “essential” work will be reported in the weekly...Read More

More COVID 19 Q&A for Dental Practice Owners

Dear Client, We continue to monitor feeds on the new bill and other programs that might help you. We’re also answering a lot of questions from clients. Here is another set of Q&A that might help you through this time: 1.With the new bill that just passed, it states there is an exemption for Health Care Providers.  Is my practice exempt as a Health Care Provider? It’s not entirely clear, but we spoke with two attorneys and both have said that the law generally interprets a health care...Read More

Update on New Coronavirus Bill and more Q&A for Dentists

Dear PracticeCFO Clients,   We wanted to give you an update on the new bill that was passed, along information that may be relevant to you during this time. We’ve constructed this email in Q&A format.   The president signed the new Coronavirus bill last night – what does it mean for me? (Note, this is separate and different than State programs we’ve outlined in our prior emails) If you work for a company with fewer than 500 employees or the government: EMERGENCY PAID...Read More

Help your colleagues by Sharing the PracticeCFO guidance on COVID 19

As you know, we’re making efforts to keep our clients, and dentists more generally, financially informed during this time. If you’re a part of a dental group (online group, study club, dental association, etc), we’d value a few moments of your time to send a quick word to your groups with these links. (Feel free to copy and paste!) PracticeCFO’s financial guidance to help dentists through COVID 19: Damage Control for Your Office. Video: Click here....Read More
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