Are Your Employees Classified & Paid Properly?

Are Your Employees Classified & Paid Properly?

Have you ever been a little unsure as to the classification of your employees as being exempt from overtime compensation, or being eligible for overtime compensation - which is called being “nonexempt”? This issue causes a tremendous amount of confusion for many employers, which can lead to major headaches, and oftentimes, monetary awards for back wages that are determined to be due by the Department of Labor (DOL). Wage and Hour Investigations by the DOL have been increasing in recent years and actually set an all-time record in 2016. This area has seen aggressive scrutiny and focus by the DOL in recent years. Wage and hour cases are the most active types of litigation in the field of employment law. The year-to-year increases have become a pattern since 2000, going up by more than 450% since that time. Every employer must follow wage and hour laws to the fullest. There is no room for shortcut or a lax approach when dealing with employment laws. So, what is the major mistake that many employers make that is getting them into hot water? There are actually two major mistakes and one of them revolves around misclassifying employees and how they have to be compensated. We will talk about that one in this article and then cover the other in our next newsletter. ......
How to Protect From and Detect Embezzlement in Your Dental Practice

How to Protect From and Detect Embezzlement in Your Dental Practice

You practice dentistry because you enjoy helping patients. At the same time, you went into business to make a profit. What happens when you discover that a trusted employee is stealing your profits? Think it cannot happen to you? Think again…no one is immune! In this article you will learn to recognize the profiles and modus operandi of embezzlers, safeguards you can implement to protect your practice from being an easy target, as well as what to do if you discover that you are a victim of embezzlement. ......
What’s Missing in a Dental CPA

What’s Missing in a Dental CPA

Having a good advisor by your side as a business owner is extremely important. It can not only increase the profitability of the practice but can also help eliminate bad decisions and reduce the headaches of business ownership.

Range of Support

Do It Yourself

In an attempt to reduce overhead cost some practice owners attempt to keep their own books. Whether they purchase a check writing software or keep manual records, they simply hand off their records at the ......

What You Thought About Overhead Expenses is Wrong

What You Thought About Overhead Expenses is Wrong

As a dental practice owner, recognizing the specific costs of operation is a critical part of keeping the business running. Dental office overhead breakdown information can provide some insight into this. When you understand what you are paying, and where those costs come from, you can make better decisions about managing your practice.

What Are the Average Expenses of Dentists?

Every business has costs of operation. A dental office has them as well. They are the costs of keeping your ......

5 Mistakes Dentists Make to Fall Behind the Competition

5 Mistakes Dentists Make to Fall Behind the Competition

What makes a dental practice successful? It could be having a large number of patients who are satisfied with the service provided. It may be meeting specific financial goals. A successful dental practice typically has engaged employees, those that provide exceptional care to patients and meet all compliance requirements.

One of the most important ways to look at the success of a dental practice is to consider the competition. What factors can cause a company to fall behind the other ......

Identity Theft: the New Targets! Protect Your Practice, Patients, and Family

Identity Theft: the New Targets! Protect Your Practice, Patients, and Family

Every minute about 19 people fall victim to identity theft. The Federal Trade Commission reported in 2015 that identity theft has been the #1 reported crime for 15 years in a row. It continues to be the fastest growing crime in America. Whether using somebody's social security number to open new accounts or illegally hacking into a bank account, all forms of identity theft can be serious and have different outcomes. Identity theft is not a new problem, but because so much of our personal information is stored electronically these days, this crime is happening more often, especially to children. Currently, the fastest growing segment of victims is children. Today, identity theft encompasses more than credit cards and financial accounts. Tax identity theft claims more victims each year. Medical identity theft is another serious and growing problem – for both the patient and the providers. Whether your personal, financial, medical, tax, or child’s information has been stolen, correcting the problem is costly, time-consuming, and stressful. ......
Update on Executive Orders to Provide Financial Relief on Payroll Taxes

Update on Executive Orders to Provide Financial Relief on Payroll Taxes

Clarification from the IRS is now beginning to trickle in regarding the Executive Order signed by President Trump on August 8, 2020. The intent of the President’s order was to provide financial relief on payroll taxes to employees due to the ongoing Covid-19 pandemic. Our team would like to provide the following details regarding the order and subsequent IRS guidance, which has serious ramifications to consider. ......
Breaking News! CMS to Rebrand Meaningful Use Program With New Emphasis on Interoperability, Burden Reduction

Breaking News! CMS to Rebrand Meaningful Use Program With New Emphasis on Interoperability, Burden Reduction

In a rule released this week (April 24), the Centers for Medicare & Medicaid Services (CMS) has announced its intention to overhaul the Meaningful Use program. In a press release, the federal agency said that it will be proposing to re-name the Meaningful Use program to “Promoting Interoperability.” CMS said the goals of the new program will be to: make it more flexible and less burdensome; emphasize measures that require the exchange of health information between providers and patients, and incentivize providers to make it easier for patients to obtain their medical records electronically. ......