SALARIES AND TAX PROJECTIONS
At this time, we are recommending you start paying your normal salaries, using the original amounts we provided for your 2020 recommended salary and withholding. This means that each pay period, going forward please have your payroll company return to the original salary we set for you. This should have gross salary, federal and state withholding and retirement deferrals (if applicable). THIS SHOULD BE PAID OUT OF YOUR REGULAR PRACTICE CHECKING ACCOUNT (not out of the PPP checking account). *Please note, if we have already provided updated salary information, please use that information.
We will be revisiting your salary with your first tax projection. We are currently working on a strategy to help assist in projecting your 2019 income for tax planning and salary withholdings. As we have stated in prior Eblasts, it is critical this year to have your practice bookkeeping information sent to us each month so we can process it. If you have not been sending it to us each month, please catch it up and send it our way. We will be looking at the practice through June for the first tax projection.