Our March General Membership meeting went well with our speaker Dr. Mel A. Burchman - we thank him for sharing his expertise. Unfortunately, we have had to postpone the April Vendor Fair due to the rapidly changing situation in the world. Please keep checking your emails. As things change, we will keep you updated.
I hope everyone is doing well dealing with this Coronavirus (COVID-19) pandemic and coping as best you can. I know everyone is being affected in some way or another. The stress of the unknown - health and financial concerns are constantly on our minds.
We must stay strong and do everything we can to minimize the risk of spreading it by following WHO, CDC, ADA and FDA protocols. Keep checking your emails for updates. All of us are at risk to some degree, so use precautions - hand washing, disinfecting surfaces, distancing and self-quarantining if you suspect exposure. It is the only way we are going to overcome this pandemic.
I have heard talk of mobilizing the national guard and military to help with the containment of this virus. Unfortunately, it may become necessary as many people are not taking this seriously enough! It's not like a hurricane party! This virus will keep on spreading and taking lives unless we deal with it.
Please help to educate some of the people you encounter who are lacking the common sense in some cases to be responsible - we are all in this together! Let us all pray for a speedy containment.
Dr. Gabriele Spinuso
PCDA President
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Governor Places Mandates on Dental Offices
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All hospitals, ambulatory surgical centers, office surgery centers, dental, orthodontic and endodontic offices and other health care practitioners’ offices are directed to immediately cease performing elective services until May 8, 2020.
Through issuance of Executive Order 20-72, Gov. Ron DeSantis has mandated the prohibition of any medically unnecessary, non-urgent or non-emergency procedure or surgery in the state of Florida. Dentists would still be required to see emergency patients. All non-essential elective medical and surgical procedures, including dental procedures, are included in order to conserve medical supplies and resources, preserve essential resources and control the potential spread of COVID-19.
The governor’s previous executive order, E.O. 20-52, is referenced in the last sentence of the order suspending elective procedures. It is the official declaration of a public health emergency, which was filed on March 9 and expires 60 days from then: May 8.
For more information on HR issues, coding, billing, PPE resources, please visit the
FDA's COVID-19 webpage
.The FDA is working to be a go-to source for members and will regularly update its COVID-19 webpage and other resources to ensure they’re as current as possible in this rapidly changing environment.
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COVID-19 Impact on Employers and Employees: Just the Facts
with Attorney Gregory A. Hearing
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Webinar - Thursday, March 26th at 12:00PM Eastern
Topic Description:
WCDDA and Attorney Gregory A. Hearing have teamed up to provide WCDDA Members a Zoom Conference Webinar to help navigate you through these uncharted waters.
- Emergency Family and Medical Leave Expansion Act
- Emergency Paid Sick Leave Act
- Guidance Issued By the EEOC
- Issues for Employers to Consider
Date:
Thursday, March 26, 2020
Time
: 12:00PM Eastern
Register in advance for this webinar:
After registering, you will receive a confirmation email containing information about joining the meeting.
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Due to COVID-19, our Membership Meeting on April 1, 2020 has been cancelled. We will notify you of any rescheduling.
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Tax Season
, by Dr. Devin Gapstur
This article does not reflect the recent mandates by the Federal Government.
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With tax season upon us and in consideration of the new tax reform laws, I thought it would be appropriate to write about strategies to minimize your tax liability for 2019 and beyond. The new tax reform laws put into effect with the 2019 Tax Cuts and Jobs Act (TCJA) have a significant impact on individuals as well as dental practices’ tax planning. This article will provide general insight into new tax structure and how to be proactive in successfully minimizing the tax burden of both the dentist and dental practice.
The Tax Cuts and Jobs Act was signed into law on December 22, 2017, and it is the first major tax overhaul since 1986. Most of the elements of the tax reform went into effect on January 1, 2018 and most provisions expire on December 31, 2025 unless laws change after the upcoming presidential election. The TCJA will affect virtually all taxpayers, at the individual level and at the business entity level.
How does this reform affect the individual taxpayer?
Based solely on the reduction in the income tax rates, and not considering any other provision, a taxpayer would likely see a decrease in tax of approximately 2-3%; for example, the highest tax bracket has dropped from 39.6% to 37% income tax. It is likely that most taxpayers will now take the standard deduction instead of itemizing deductions, as the TCJA relatively doubled the standard deduction and reduced the available itemized deductions. Miscellaneous unreimbursed business expenses like travel, dues, uniforms and continuing education are no longer deductible for years 2018 through 2025, which may negatively impact associate dentist employees. The tax reform has also eliminated personal exemptions for dependents, increased the Child Tax Credit per qualifying child, and reduced the number of estates impacted by the “death tax” by basically doubling the previous estate tax exemption. In addition, the Obamacare shared responsibility penalty for taxpayers who were not covered by a health insurance plan was repealed starting in 2019.
How does this reform affect taxation of your dental practices?
For C-Corporations in tax years beginning 2018, the tax structure has changed to a flat tax of 21% (versus a range of tax rates from 15% to 38% depending on income). While this may seem appealing, C-Corporations can be subject to double taxation where tax is paid at the corporate level as well as the personal level when dividends are paid from the company. It should also be noted that C-Corporation’s operating or formed in Florida are required to file a corporate income tax return with the state. Any profit from the corporation could be subject to Florida state income tax.
Tax entities, like an S-Corp, partnership, and sole proprietor/single member LLC, can now (2018 through 2025) deduct up to 20% of qualified business income. Most trade or businesses are eligible for this deduction; however, dental services fall into the category of being considered as a specified service business. As a result, this deduction is gradually phased out once the taxpayer’s income exceeds a certain threshold. Careful planning with your accountant to monitor your income throughout the year may allow you to be under the maximum income threshold to take advantage of the full 20% deduction. In order to drop below the income threshold at the end of the year, consider making a needed asset purchase (like office equipment), fully funding your retirement plan, giving your staff a year-end bonus, and/or adding a non-spouse family member onto your staff. If you employ a child, it is important to treat them like a real employee where you compensate them fairly and comply with all legal requirements.
For years 2017 through 2022, businesses can now take bonus depreciation of 100% (previously 50%) on qualified property acquired and placed in service in the respective year. Businesses are also able to fully depreciate through section 179 qualified leasehold improvements to commercial real estate, like roofs, A/C, and security systems.
Many additional planning opportunities exist to aid in tax minimization with the new tax reform. So most importantly, communicate early and often with your CPA. The more information you exchange, the better and more informed decisions can be made. My CPA, Brian Sanders with Forrester, Hart, Belisle & Whitaker, would be more than happy to review your tax strategies with you.
Dr. Devin Gapstur
PCDA Council Chair at Large
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Important Dates
June 12-13, 2020
FDA House of Delegates
Gaylord Palms
August 7-9, 2020
WCDDA 33rd Summer Meeting
The Ritz-Carlton, Naples
October 15-17, 2020
America's Dental Meeting & FDA
Orlando
January 29, 2021
WCDDA 99th Annual Meeting
CAMLS Tampa
June 24-26, 2021
Florida Dental Convention
Orlando
August 6-8, 2021
WCDDA 34th Summer Meeting
The Ritz-Carlton, Naples
October 11-15, 2021
America's Dental Meeting
Las Vegas
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Would it make your life easier to receive text notifications from PCDA? We encourage you to subscribe and text the word
PCDA
to
33222
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A Piece of Pinellas County History
One hundred and fifty years of Pinellas County (Hillsborough until 1912) Dentistry is now a book “From Rocking Chairs to Robotics” by Jon Wilson, a historical journalist who captures the passion, talent, personalities and determination of a wide variety of dentists. Dentists who forged a primitive reaction to suffering into a noble profession with the highest ethical standards to achieve community oral health. Time has proven that as the mouth is healthy so is the body. Dentists are Medical Specialists and their civic efforts to improve physical health are unequaled in the medical field, which has too long ignored the contribution of dentistry to the science of health. Hopefully, our new generation of dentists will relish the stories and be inspired by ‘the old guard’ on our “founding fathers” who sacrificed monetary gain and fame for integrity in being an advocate for their patients in the face of the economic pressures. The book will make you proud you are a dentist, belonging to an
unusually gifted association. The battles that have been fought will be fought again to keep commercialism, and industry control at bay while at the same time preventing government intrusion that impairs doctor/patient relationships. The book will equip our grandchildren dentists with the knowledge and fortitude to take dentistry into a desirable intentional future. Our great history should be a sellout. Hope everyone of us will want the pride of our profession on our office bookshelf.
Dr. John Harrison with the spirit of Dr. Chuck Martin.
If you are interested in purchasing a copy, contact the Pinellas County Dental Association at
smilepinellas@gmail.com
or call (727) 342-0374.
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Pro Bono Reporting:
Do you volunteer your time and skills or
donate dentistry in your office or away from the office? The Florida Dental Association Foundation is tracking charitable care provided by our members. Please complete the following questions about volunteer hours and the services you provided this quarter.The form is brief, concise and the amount of hours donated can be used as a powerful tool when speaking to legislators.
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For Sale:
Dental DSLR Macro System - very good condition. Canon 10MP XTi body with charger, Canon MR-14EX ring flash, Tamron 90mm f2.8 Di SP 1:1 macro lens. Boxes and papers for all of this. Camera uses CF memory card. Has worked well
for me many years. Great color quality and detail resolution for patient presentations and lab instructions. Please contact Mike Podlusky at 727-584-2660 or
mikedent@juno.com
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Executive Board & Committees 2019-2020
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Gabriele Spinuso, DDS
President and Delegate
Kristie Johnson, DMD
President-Elect and Delegate
Brent Mayer, DMD
Vice President and Alternate Delegate
Deborah Lowry, DMD
Secretary and Alternate Delegate
Devin Gapstur, DMD
Council Chair-At-Large and Alternate Delegate
Kenneth Grundset, DDS
Executive Treasurer
Charles Ford, DMD
Ethics Chairman
Luis Martinez, DMD, PA
Peer Review Chairman
Gregory Langston, DMD
Delegate
Amy Anderson, DMD
Delegate
Rita Hurst, DMD
Editor
Jeff Scott, DMD
Immediate Past President and Alternate Delegate
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