For many, the perception is that 2020 will be a down year with reduced income and related tax liabilities. However, the infusion of cash from the Paycheck Protection Program (PPP) loan, the HHS stimulus package, and other supplemental payment programs has helped to reduce the financial impact of the pandemic. Current guidance from the IRS… Continue Reading Tax planning ideas for 2020
The news continues to be filled with actions taken by the federal government in response to the COVID-19 crisis. The CARES Act includes many provisions that affect your personal finances. These actions all have the potential to impact your life and your money. WDA partner, SoFi, wants to make sure you understand them.Specifically, how do… Continue Reading Student loans and the CARES Act
In order to support the financial futures you and your employees deserve, the Wisconsin Dental Association has collaborated with Transamerica to offer a Multiple Employer 401(k) program. Adoption into the program will allow you to take advantage of a superior retirement plan solution for your practice that is an excellent employee recruiting and retention tool.… Continue Reading WDA’s new Multiple Employer 401(k) program: Help provide for your team’s financial future
BMO Harris Bank is here to help you take your finances further. No matter what your practice goals are, this guide can assist you in successfully building your own business plan. Writing a well-thought-out business plan is an important early step in planning for a successful dental practice. Whether you’re acquiring an existing practice, expanding… Continue Reading Financing Your Practice: Five Key Elements of a Business Plan
As dental offices adjust to COVID-19 realities, one area to minimize physical contact with patients is in the payment process. Use what you have Did you know that most credit card terminals that accept EMV chip cards also accept Contactless payments? Contactless cards and smartphone digital wallets (ie., ApplePay) are an option that most practices… Continue Reading Going contactless for payments
All too often, succession planning is a step that dentists put off because of the more immediate concern of running the practice. And no question, keeping up with patient care, managing staff, and overall practice management is a full time job in itself. However it is important to find the time to develop and implement… Continue Reading Are you ready to pass the torch?
The purpose of this article is to keep dental employers informed of the poster requirements mandated by state and federal law. It is important to comply with the information posting requirement and ensure staff access to the information. The posters should be displayed in “plain viewing sight.” The following is a comprehensive list of state… Continue Reading Comprehensive listing of federal, state poster requirements for employers
Late in 2018, Wisconsin enacted a pass-through entity tax allowing pass-through entities to elect to be taxed at the entity level instead of flowing through their income to their owners. The new tax is an annual election made when filing a partnership or S corporation return. The consent of partners or shareholders owning more than… Continue Reading Wisconsin pass-through entity tax
Over the past few years you have, no doubt, heard the drum beat that the golden age of dentistry is over. With the rise of the Dental Service Organization (DSO) and the increasing costs of a dental education the belief is that new graduates simply cannot afford to own a practice. Here are three reasons why… Continue Reading Will private practicing dentistry survive?
The continual pressure to stay ahead of regulatory change, manage day-to-day office operations and stay competitive in the market can be challenging. Knowing key industry metrics and how to evaluate your practice’s data is essential to driving your strategy and achieving your operational and financial goals. When it comes to setting dental service fees and… Continue Reading Make informed decisions for your practice with our 2018 dental fees and compensation survey