From employment agreements . . .
To starting, buying or selling a practice . . .
To preparing for retirement . . .
We understand the unique challenges that health care professionals
face in a rapidly changing business and legal environment.
We represent physicians, dentists, veterinarians and other healthcare professionals in business and transactional matters. We provide sophisticated counsel on the many corporate, business, tax, and regulatory issues that arise in connection with the full range of transactions and business arrangements they enter into over the course of their careers.
In the early days of the PPP, there was some confusion regarding the ability of a partnership (or an LLC taxed as a partnership) to include the compensation of the partners in the original loan amount, as partners’ compensation is not W-2 income. Subsequently, on April 14, 2020, the SBA provided guidance allowing partners’ compensation to be included in the PPP loan amount based on an annualized amount not exceeding $100,000.
What happens to the partnerships that applied for the PPP without the benefit of that SBA guidance allowing a partner’s income to be included in the PPP loan amount? The most recent SBA guidance released May 14 allows these partnerships to apply for an increase to their PPP Loan.
In the early days of the PPP, there was some confusion regarding the ability of a partnership (or an LLC taxed as a partnership) to include the compensation of the partners in the original loan amount, as partners’ compensation is not W-2 income. Subsequently, on April 14, 2020, the SBA provided guidance allowing partners’ compensation to be included in the PPP loan amount based on an annualized amount not exceeding $100,000.
What happens to the partnerships that applied for the PPP without the benefit of that SBA guidance allowing a partner’s income to be included in the PPP loan amount? The most recent SBA guidance released May 14 allows these partnerships to apply for an increase to their PPP Loan.
WTP speaking to the residents of the Orthodontic Post-Graduate Program of the Howard University School of Dentistry regarding, "Employment Agreements, Partnerships and Practice Purchases." For more information, please contact events@wtplaw.com.
WTP speaking to the residents of the Orthodontic Post-Graduate Program of the Howard University School of Dentistry regarding, "Employment Agreements, Partnerships and Practice Purchases." For more information, please contact events@wtplaw.com.
WTP speaking to the residents of both the Advanced Education in General Dentistry Post-Graduate Program of the University of Maryland School of Dentistry and the residents of the Department of Oral-Maxillfacial Surgery Post-Graduate Program at the University of Maryland Medical Center. For more information, please contact events@wtplaw.com.
WTP speaking to the residents of both the Advanced Education in General Dentistry Post-Graduate Program of the University of Maryland School of Dentistry and the residents of the Department of Oral-Maxillfacial Surgery Post-Graduate Program at the University of Maryland Medical Center. For more information, please contact events@wtplaw.com.
