Tuesday, 13 February 2018

Michigan Sales/Use Tax Update on Dental Prostheses – Part 3

Written by The Rehmann Team

Now that the Michigan Department of Treasury has issued a notice regarding the dental prosthesis exemption, we wanted to share with you our final takeaways on this issue that has affected the industry since July. The full notice can be found here. The notice confirms that dental labs that collected sales tax from dentists since July 1, 2017, must first refund the collected tax to the dentist before the state will issue a refund to the lab. Unfortunately, the notice does not say what proof Treasury will require for this requirement...

Published in Dental
Monday, 08 August 2016

Win-win: Compensation strategies for a happy staff and healthy bottom line

Written by Gary Borucki, CPA

As featured in The Journal of the Michigan Dental Association.It’s hard to believe that less than a decade ago, Michigan’s unemployment rate was 15.2 percent—the highest in the nation—and the struggling auto companies GM and Chrysler were then cancelling the dental and vision benefits of retirees. In 2008, dentists were rightly concerned about the immediate and long-term effects the burgeoning recession would have on their practice revenues, and—like everyone else—their employees were hoping to hang onto their jobs...

Published in Dental

Question: Our company sponsors a major medical plan and a separate limited-scope dental plan, which qualifies as an excepted benefit under the Health Insurance Portability and Accountability Act (HIPAA). Our dental plan excludes coverage for dental work (such as crowns, bridges, implants and root canals) that started before the participant became enrolled in our plan. This appears to be a pre-existing condition exclusion (PCE). Is our limited-scope dental plan allowed to have PCEs under the Affordable Care Act (ACA)?..

Published in Dental
Thursday, 13 August 2015

Do HIPAA Portability and ACA Rules Apply to Our Dental Benefits?

Written by Thomson Reuters

Question: Do the portability rules of the Health Insurance Portability and Accountability Act (HIPAA), and the various requirements of the Affordable Care Act (ACA), apply to our company's dental benefits? Answer: If your dental plan qualifies as a HIPAA "excepted benefit," it's exempt from that law's portability requirements (such as the need to provide special enrollment periods). And, as we'll explain, it should be exempt from many of the ACA's mandates. Whether your company's dental benefits are an excepted benefit depends on how those benefits are set up...

Published in Dental
Wednesday, 20 May 2015

Hire Your Spouse? What to Consider Before You Say “I Do”

Written by Rehmann Team

As featured in The Journal of the Michigan Dental Association. While recently helping a mid-Michigan dentist value and sell the practice, I started thinking about its history. From day one, it’s always been a two-person operation: the dentist takes care of his patients, and his wife handles the business side. This kind of spousal working arrangement is not uncommon to dentistry, although it may not occur as frequently as it did decades ago when there was a societal expectation that once married, women would concentrate on hearth and home...

Published in Dental
Monday, 23 February 2015

Could You Get Burned for Researching Job Applicants Online?

Written by Bill Kowalski, JD

We rely on the Internet for a whole host of things—downloading information and entertainment, shopping for—or marketing—goods and services, and finding out what others are doing or saying on social sites like Facebook, LinkedIn, Twitter, Instagram, blogs, and so on.So what’s to keep you from using the Internet to screen candidates before you hire your next hygienist or office manager?After all, online applications are now the norm. Computer programs weed through them by identifying the candidates who best match a set of job-specific keywords...

Published in Dental
Monday, 19 January 2015

Better in My Pocket: Tax Breaks to Consider

Written by Gary Borucki, CPA, CHBC

As featured in The Journal of the Medical Dental Association. As in the game of football, the actions you take in the “fourth quarter” of the year can mean the difference between winning or losing – especially when it comes to tax planning. Here are some tax tips you can use at year end, and all year long. It’s common knowledge in football that the fourth quarter mean the end of the game is near, and unless the score is hopelessly lopsided, anything can happen...

Published in Dental
Wednesday, 17 December 2014

Alert: Reimbursing Employee Health Insurance? The Old Tax Rules Don’t Apply

Written by Gary Borucki, CPA, CHBC

Some small employers, including dentists, are likely due for an unwelcome surprise this year when it comes to how they’ve handled health insurance plans and/or reimbursement for themselves and their employees.Under the new Affordable Care Act, regulations related to health insurance have changed. While small businesses (with fewer than 50 employees) are not required to provide health coverage for their workers, other parts of the ACA do apply to them—such as if they pay for individual health insurance policies, as opposed to a group policy.The first thing that’s important to know is how ACA regulations pertain to your practice’s structure (sole proprietor, partnership, C-Corporation, S-Corporation, etc...

Published in Dental
Monday, 10 November 2014

Marketing Your Practice through Your Patients

Written by Rehmann Team

The fastest, easiest way to increase your patient base is to look at your own patient files. There is a gold mine of names and contact information of all your established patients — people who know you, your office, and your good work.There are several discreet ways to use your current patient base in helping you bring in new patients. What to say to win new patients Opportunities to ask for new patient referrals are everywhere in your daily routine—it’s simply a matter of knowing how to do it...

Published in Dental
Monday, 14 July 2014

Are You Ripe for Embezzlement?

Written by Gary Borucki, CPA, CHBC

How often have you heard of an employee stealing from another healthcare practice and thought, “It couldn’t happen to me?” That kind of blind faith could put your practice in peril. In the daily bustle of running a practice, it’s possible to become overly confident in—and dependent on—your staff member, delegating too much authority and ignoring your part in safeguarding your accounts. Allowing one staffer to handle all the finances provides an easy opportunity for embezzlement...

Published in Dental
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