Most dental practices qualify for this tax credit—even if PPP funding was received. Claim your credit now.
The Employee Retention Credit (ERC) allows small businesses adversely affected by COVID-19 to claim up to $26,000 per employee as a tax credit—even if the business received a PPP loan! Filing for the ERC can be complicated and time-consuming. Which means this tax credit is underutilized. Don’t miss out on what may be coming to you.
Highlights of the ERC
√ Receive up to $26,000 per employee.
√ To qualify, your practice needs to have experienced decreased revenue, a COVID event, a partial or full shutdown, or a supply chain disruption and kept employees on the payroll.
√ Wages used to apply for the PPP forgiveness cannot be claimed as ERC wages, but remaining wages may be eligible.
√ The ERC is available for the last two quarters of 2021 for certain small businesses that opened after Feb. 15, 2020.
√ Businesses must file for the ERC before the first amended tax return deadline of July 31, 2023. This is the deadline that applies to most MDA members, so don’t delay!
The MDA endorses Dental Business Specialists to file for the ERC on behalf of member dentists. This dental CPA firm knows just what to do, and how to do it. Most DBS accounting and tax clients have already received their ERCs. MDA members using other tax filing services or accountants are encouraged to get help with their ERC filing from DBS. Complete the form below to request more information or contact the accounting office at DBS at 989-778-6605 to set up an appointment.
Disclosure
The MDA receives royalties when members use the product or services described above.