On Friday, June 5, President Trump signed the Paycheck Protection Flexibility Act into law. This new legislation changes many of the rules that allow Paycheck Protection Program loan recipients to obtain forgiveness from the government.  Art discusses in detail: • Provisions of the new law • How it makes forgiveness easier  • How dentists should proceed with the use of their loan money  • EIDL loan provisions and why you should be cautious While the laws have been relaxed significantly and forgiveness is easier, there is still work to be done. Art outlines steps dentists should take to obtain maximum forgiveness and gives tips on how they should plan going forward.    Art Wiederman, CPA HMWC CPAs & Business Advisors 714.505.9000 [email protected]

As dentists across the country begin to reopen their practices, there is additional guidance to review. In this episode, Art provides insight into the latest updates on PPP rules and the congressional law changes that are in process.   Art shares promising statistics on reopening from an ADA survey, as well as from dental coaches on what they’re seeing with their clients.  Art discusses: • New guidance from the SBA on loan forgiveness for PPP loans • House bill that passed in late May  • Pending Senate legislation  • Cash flow planning for the next six months This is an invaluable episode for dentists as they take steps to reopen their practice and develop their forward-thinking financial plan. Art Wiederman, CPA HMWC CPAs & Business Advisors 714.505.9000 [email protected]

Art meets with one of the nation’s leading dental coaches and a Phoenix, Arizona practice co-owner, Gary Takacs, in today’s episode of The Art of Dental Finance and Management podcast. Gary is a master at coaching teams and growing practices.  Gary shares what he has been advising his clients regarding reopening their practices and outlines the various steps and procedures dentists should take to open successfully. Gary emphasizes that he is not writing off 2020 and shares how he is planning to make up over 800 hygiene appointments missed during the closure of their office.  Gary’s expertise and years of experience is evidenced in how he describes what he and his team are planning. This episode provides extremely valuable advice for dentists during an unprecedented time.  Gary Takacs Takacs Learning Center  602.321.1778 www.takacslearningcenter.com

In this episode of the Art of Dental Finance and Management podcast, Art covers how to obtain maximum forgiveness for a PPP loan. On Friday, May 15, the SBA issued an eleven-page Paycheck Protection Program Forgiveness Application that business owners must submit to apply for loan forgiveness.  In addition to reviewing the main points of the application, Art provides dentists with guidance on:  • Economic Injury Disaster Loans (EIDL) • Whether small business owners who have liquidity, or access to capital, can accept PPP loans • The three calculations that can potentially reduce forgiveness of the loan There is a lot for dentists to consider as they begin to complete their application. This episode helps lay the groundwork to begin the process of obtaining maximum loan forgiveness Art Wiederman, CPA HMWC CPAs & Business Advisors [email protected] 714.505.9000

Art visits with labor law attorney Ali Oromchian of Dental & Medical Counsel, PC on today’s episode of The Art of Dental Finance and Management podcast.  Art and Ali discuss the legal aspects of reopening your dental practice. They answer many of the legal questions dentists have regarding employee issues during the COVID-19 pandemic, including: • Tips on reopening your dental office  • Employee concerns about coming back onto payroll while out on unemployment • Changing employee hours when reopening the office • Legal documents you must be prepared to have in these situations • Legal issues to consider This episode includes important topics during this challenging time, especially since dentists in many states are starting to return to their practices.  Ali Oromchian, Esq. Dental & Medical Councel, PC HR for Health 925.999.8200 [email protected]

Attorney Randy Curry and Art discuss issues facing dentists during the COVID-19 pandemic in this episode of The Art of Dental Finance and Management podcast:  • Whether a dentist's business interruption policy can cover losses  • Policy provisions in these types of policies  • Ongoing litigation  • Potential state and Federal legislation coming which could require insurance companies to cover situations such as COVID-19  • What actions dentists should take to potentially receive financial benefit from these policies  Art also provides updates on:  • Recent SBA Interim Guidance on calculating the PPP loan  • Insight regarding bringing the dental team back early  • New grant program from Facebook  • New CDT code issues to cover PPE costs expected when dentists re-open their offices  This episode is packed with helpful information for dentists to navigate these challenging times.  Randy Curry, Attorney-at-Law  Law Offices of Randy Curry  949-258-4381  [email protected]

Today, Art visits with two people who have been very instrumental in helping dentists across the country through the COVID-19 Pandemic: • Megan Mortimer, Congressional Lobbyist for the American Dental Association  • Allen Schiff, President of the Academy of Dental CPAs  Megan provides an update on how Congress is attempting to add funds to the PPP:  • A timeline • What the ADA is doing to advocate for dentists in Washington D.C • Valuable resources dentists can access through the ADA Art, Megan and Allen also discuss: • Updates to the SBA regulations  • Strategies dentists need to consider once they receive the money • How the money should be spent  • How to account for the funds  • How the government forgiveness works  This is a very informative, insightful, and timely episode to help dentists navigate these challenging times. Megan Mortimer Congressional Lobbyist - American Dental Association [email protected] Allen Schiff, CPA, CFE President Schiff and Associates, LLC [email protected]

Many dentists have applied for the Economic Injury Disaster Loan (EIDL) and Payroll Protection Program (PPP) loan programs, which offer government assistance for small businesses. There has been some clarification on the amounts available under the EIDL program. But more importantly, there is an important decision to make regarding the PPP load as banks and financial institutions begin to approve dentists’ applications.  Art discusses the various options for dentists: • Take the loan now • Reapply later, or • Not take the loan at all He will also discuss another important action item: sending a letter from the President and Executive Director of the American Dental Association to congressional leaders asking for Congress to allow dentists to choose the date they accept loan proceeds.  As this ever-changing program evolves, Art provides insight and resources for dentists during these challenging times. This podcast provides the most up to date information through April 12, 2020. Art Wiederman, CPA HMWC CPAs & Business Advisors [email protected] 714.505.9000

As the COVID-19 pandemic continues to unfold, Art is dedicating his episodes to updating his audience on the status of the two loan programs dentists are applying for: • Economic Injury Disaster Loan (EIDL)  • Payroll Protection Program (PPP) The PPP program was rolled out on Friday, April 3 and has created much confusion for dentists and banks. Art discusses the available loan programs and the most recent information as of April 5, as well as what dentists should do to maintain their finances during these very challenging times. Art Wiederman, CPA HMWC CPAs and Business Advisors 714.505.9000 [email protected]