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This episode focuses on the timely topic of the Employee Retention Tax Credit (ERC), which many medical practices may be able to take advantage of for significant tax savings.

David and Carole begin by discussing the ERC as it was originally enacted as part of the CARES ACT in 2020. Carole describes its varied rules at that point, including the prohibition on taking advantage of the ERC if a practice received PPP loans. This resulted in many physicians believing that the ERC was not an option for their practice at all.

Carole then describes the changes to the ERC that came about with the passage of the Consolidated Appropriations Act of 2021 (CAA). Carole explains that the CAA changed the rules for the better, including allowing practices which did get PPP funds to still be able to utilize the ERC and making the ERC economics even more generous.

Finally, Carole explains what medical practices should be doing now to see if they are eligible for the ERC.

What You’ll Learn:

  • What the ERC is and how it could help medical practices significantly reduce income taxes
  • The rules around the ERC when it was first enacted in 2020 as part of the CARES ACT
  • Why so many physicians and their advisors judged their practices as not eligible for the ERC originally
  • How the CAA changed the ERC – significantly and for the better
  • The new economics of the ERC in 2021 under the CAA
  • What medical practices should be doing now to see if they can benefit for the ERC


  • David Mandell: Bio
  • Carole Foos: Bio