20/20 Money Episode # 76 -PPP Update & Emergency CARES Act Strategy

On today’s episode, I start out with an update on the Paycheck Protection Program and what we’ve learned through the first round of applications as well as an update (as of now) as to what the next round of stimulus funding might look like and when that might come to fruition. I then share details on another aspect of the CARES Act that hasn’t been as talked about but can still be an important planning consideration and that’s the Employee Retention Credit. I share the details on how the ERC works and an example of a practice where the ERC may actually be more advantageous than the PPP, which is partially dependent on the timing of the PPP loan as well as the number of employees the practice has when the office reopens. I wrap up the show talking about a couple of other planning strategies to consider along with a message to encourage you to “think about what you think about.”

As a reminder, you can get all the information discussed in today’s conversation by visiting our website at integratedpwm.com and clicking on the Learning Center. While there, you can also set up a 20-30min Discovery conversation to learn a little bit more about what it means to work with our firm or check out any number of additional free resources like our eBooks and on-demand webinars.

And with that introduction, I hope you enjoy this episode of 20/20 Money.

How CARES Impacts Optometrists