As we wrap up 2020, many dentists are wondering how they can optimize the money they received through various grants and loans because of COVID. In this episode of Beyond Bitewings, the Edwards & Associates team discusses the loan forgiveness status and strategies for making sure you’re best prepared for whatever may come in 2021.
There are a lot of questions about PPP loan forgiveness, and the team covers everything you need to know about the timelines for rules for applying for forgiveness of the loan, how and when you needed to spend the money you received, and why the rules of forgiveness aren’t quite yet 100% clear.
The team also discusses the EIDL payment payback. EIDL stands for the Economic Injury Disaster Loan, and why paying back this loan right away might not be the best decision as we enter 2021.
The third thing they discuss is the HHS stimulus payment and what you need to know when it comes to paying this back in addition to preparing your taxes for 2020.
We understand that these can all be very confusing and are happy to help answer any specific questions you may have. Please feel free to email us at firstname.lastname@example.org any time or give us a call, and we are happy to help you navigate your next steps.