Webinar: Examining PPP Updates for Your Dental Practice – January 15, 2021
January 20, 2021
Learn how the latest stimulus bill can affect your dental practice
The Consolidated Appropriations Act, 2021 (the Act) was passed by Congress on December 21 and includes some significant changes to the Paycheck Protection Program (PPP). The Act not only provides for a second draw for certain borrowers, but it includes a flurry of changes to existing PPP loans, highlighted by modifications to the tax implications, eligibility for the Employee Retention Credit and a more simplified forgiveness process for loans $150,000 and below.
Join Aprio’s experts as they discuss:
- The major PPP and ERC changes that have taken place due to the latest legislative updates
- The tax implications of PPP funds
- The expected timing of PPP forgiveness and repayment
- Dental practice eligibility for the Employee Retention Credit
Let Aprio help
Aprio has established a dedicated PPP team that is continuously monitoring new guidance from the SBA, as well as the Treasury, Congress and the IRS, to ensure we have the latest information when advising our clients. Let Aprio help you navigate the PPP process with ease and expedite forgiveness. Contact Aprio’s dedicated PPP team for a consultation.
Disclaimer for services provided relative to SBA programs and the CARES Act
Aprio’s goal is to provide the most up to date information, along with our insights and current understanding of these programs and regulations to help you navigate your business response to COVID-19.
The rules regarding SBA programs are constantly being refined and clarified by the SBA and other agencies In certain instances, the guidance being provided by the agencies and/or the financial institutions is in direct conflict with other competing guidance, regulations and/or existing laws.
Due to the evolving nature of the situation and the lack of final published rules, Aprio cannot guarantee that additional changes or updates won’t be needed or forthcoming and the original advice given by Aprio may be affected by the evolving nature of the situation.
You need to evaluate and draw your own conclusions and determine your Company’s best approach relative to participation within these programs based on your Company’s specific circumstances, cash flow forecast and business strategy.
In situations where resources are provided by third parties, those services should be covered under a separate agreement directly with that service provider. Aprio is not responsible for the actions of any other third party.
Aprio encourages you to contact your legal counsel to address the legal implications of the impact of the CARES Act and specifically your participation in any of the SBA programs.
About the Author
As partner-in-charge of Aprio’s National Dental Industry Practice, Brad McKeiver arms dentists with real-time financial data about their practices. He has helped numerous dental practitioners make informed business decisions that focus on driving increased practice profitability, growth and value.
Justin Elanjian, CPA, is the Partner-in-Charge of Aprio’s Paycheck Protection Program (PPP) & Employee Retention Credit (ERC) Services. As a national PPP expert, prominent speaker and strategic business advisor, Justin helps both lenders and borrowers navigate the complexities of the PPP. He also helps his clients realize benefits from other stimulus package programs, such as the ERC, and is committed to strengthening his clients’ balance sheets and helping them achieve what’s next. Justin also leads a team of more than 50 professionals who share his passion for helping businesses maximize the federal COVID relief programs.