YOU GOT THE FUNDING - NOW HOW DO YOU REPORT ON IT?

Dental practices had a variety of funding options available to them this year related to the pandemic’s impact. These federal and state level programs were designed to help small businesses maintain their workforce, infuse working capital, and keep businesses viable. The programs included grants, advances, loans, payroll tax credits, payroll tax deferrals, and expanded employee benefit coverage. As you can imagine, all these options require tracking, reporting, and documentation.

• Reporting requirements for PPP loan forgiveness
• Taxable and nontaxable funding tracking
• What you need to report on your business taxes
• General questions on 2020 funding scenarios