Tax | Practice/Corporation

More Overlooked Tax Deductions

You might be missing out on valuable tax deductions! Learn how cost segregation studies and writing off unused assets can significantly boost your tax savings without any additional spending.

Tax | Practice/Corporation

It’s Not Too Late to Save on Your 2023 Taxes

If you extended your 2023 tax return, consider making additional retirement contributions to reduce your taxes before the new deadline. New retirement plans may also qualify for tax credits.

Tax | Practice/Corporation

New Strategy To Slash Taxes On Your Practice Sale

Learn how the Pass-Through Entity Tax Election can help dentists significantly reduce federal income taxes on practice sales, converting personal state income taxes into deductible business taxes and leveraging corporate goodwill for substantial savings.

Tax | Practice/Corporation

The 7 Most Overlooked Tax Strategies

Learn the top seven overlooked tax strategies that could save dentists thousands in federal and state income taxes, from optimizing spouse payroll contributions to maximizing Roth IRAs and HSAs.

Tax | Practice/Corporation

What To Do About Your ERC Claim

Discover how to maximize your Employee Retention Credit (ERC) for your dental practice before time runs out, as filing deadlines approach and legislation may soon close off further claims.

Tax | Practice/Corporation

Are You Ready For The March 22 ERC Settlement Deadline?

If you filed an ERC claim and violated one of seven IRS "red flags," don't miss the March 22 deadline to file your VDP application or face serious repercussions!

Tax | Practice/Corporation

Should You Accept the IRS’ ERC Settlement Offer?

Amidst heightened IRS scrutiny of the ERC, a recently introduced Voluntary Disclosure Program presents taxpayers with a unique opportunity to address questionable claims. Act now! Settlement applications must be received by March 22, 2024.

Tax | Practice/Corporation

Get Ready For The New Required Ownership Filings

Are you exempt or required to comply with the CTA's new filing requirements? Find out or face severe penalties.

Tax | Practice/Corporation

Did You File a Suspect ERC Claim? Follow These IRS Guidelines to Limit Your Damages

We've kept you updated on the IRS's halt on ERC claim processing and increased potential for audit. Now, here's what to do if you believe you filed a fraudulent claim.

Tax | Practice/Corporation

Five Strategies To Maximize Your Business Car Deductions

Low supply and rampant inflation have caused car prices to rise. Learn how to take advantage of these tax breaks by utilizing your car for business purposes.

Tax | Practice/Corporation

Top 10 Strategies to Convert Nondeductible Expenses Into Legitimate Business Tax Deductions

If you're spending your personal after-tax dollars on certain expenses that you can deduct through your practice, you're doing yourself a disservice! Here are our top 10 ways to legally turn these expenses into business tax deductions.

Tax | Practice/Corporation

How to Navigate the Controversial Employee Retention Tax Credit

Beware of scammers luring you to apply for the Employee Retention Tax Credit. While some doctors may qualify, those that don’t run the risk of significant consequences if IRS regulations aren’t properly followed. Follow our insight before applying and take the steps to protect yourself if you've applied already.

Tax | Practice/Corporation

Two Strategies To Beat The New Limits On Electric Vehicle Tax Credits

To qualify for an EV tax credit, your vehicle must pass 4 strict tests, but you can circumvent these requirements with the Commercial Clean Vehicle Credit.

Tax | Practice/Corporation

Six Last-Minute Tax Saving Moves For 2022

It's not too late to dramatically reduce your 2022 income taxes. Don't overlook these bulletproof strategies!

Tax | Practice/Corporation

New Business Tax Credits Available For Practice Electric Vehicle Purchases Starting in 2023

The Clean Vehicle Credit qualifications are highly restrictive. Fortunately, if your electric vehicle purchase is for business use, the Commercial Clean Vehicle Credit is much more inclusive. Here's how you can take advantage.

Tax | Practice/Corporation

Don’t Overlook The Employee Retention Credit For 2021

Do you qualify for the Employee Retention Credit for 2021? If so, find out how you can claim this credit before it disappears!

Tax | Practice/Corporation

Congress Ends Employee Retention Tax Credit Early To Fund New Infrastructure

The Employee Retention Tax Credit ended September 30, 2021. What does this mean for you and your practice? Read on to find out—especially if you are an eligible start-up practice.

Tax | Practice/Corporation

Take Advantage Of The Expanded Work Opportunity Tax Credit For New Hires

If your practice has been adversely affected by the current staffing shortage, this tax credit is your silver lining.

Tax | Practice/Corporation

Can Your Practice Qualify For The R&D Tax Credit?

The benefits of claiming the R&D Tax Credit can be great, but there are complexities and risks to consider. Find out if your practice qualifies to receive this tax benefit.

Tax | Practice/Corporation

Are You Missing Out On The Employee Retention Credit?

If you think you don’t qualify for the Employee Retention Credit, think again! We share the most common misconceptions surrounding this tax credit and explain why your practice most likely meets the requirements.

Tax | Practice/Corporation

Take Advantage of Vaccine-Related Tax Credits

Under the American Rescue Plan, most dental practices are eligible for refundable payroll tax credits to reimburse paid sick and family leave due to COVID-19, including recovering from vaccinations. Does your practice qualify?

Tax | Practice/Corporation

Take Advantage Of The Expanded Employee Retention Credit

Good news! You may be eligible to claim a retroactive tax credit through the expanded ERC—even if you obtained a forgivable PPP loan. Find out if your practice qualifies.

Tax | Practice/Corporation

Accelerate Your Tax Savings From PPP Deductibility

After months of uncertainty and confusion surrounding PPP loan forgiveness, Congress finally acted—passing a second round of Coronavirus stimulus and clarifying deductibility rules for expenses paid with PPP funds.

Tax | Practice/Corporation

Take Advantage Of Tax-Free COVID-19 Reimbursements For You And Your Staff

A little-known tax provision allowing for Disaster Relief Payments creates the opportunity for you to receive tax-free cash from your practice and provide a morale-boosting bonus to hard-working staff.

Tax | Practice/Corporation

5 Last-Minute Tax-Saving Moves For 2019

We promise expert strategies to help you reach your goals faster and with less stress, and we deliver. This curated list is one not to miss.

Tax | Practice/Corporation

How To Get The Maximum Savings From The New 20% Section 199A Tax Deduction For Your Real Estate Investments

The IRS recently issued final Section 199A designed to answer a multitude of questions. Here’s how to navigate the new rules for maximum tax savings.

Tax | Practice/Corporation

How To Get The Biggest Savings From The New 20% Section 199A Tax Deduction

Including 8 solid strategies to help you qualify if your income is over the threshold.

Tax | Practice/Corporation

New Aligner Technology Expanding Tax/Economic Benefits From In-House Lab

Qualified research for the R&D tax credit must meet these 4 criteria.

Tax | Practice/Corporation

New Law Increases Tax Savings From Cost Segregation Study For Your Office Building

Read on for expert examples of building items which normally qualify for more rapid write-off from a cost segregation study.

Tax | Practice/Corporation

Selecting The Best Practice Business Form Under The New Tax Law

It's time to re-evaluate how your practice is organized.

Tax | Practice/Corporation

How To Beat The Stricter Independent Contractor Rules And Save Taxes

Beware - - Misclassifying an associate can adversely affect both your practice and the misclassified doctor.

Tax | Practice/Corporation

How To Maximize Your Business Car Deductions And Protect Them From IRS Attack

A guide for doctors to confidently–and correctly–take business car deductions to avoid costly penalties and save thousands of dollars in taxes.

Tax | Practice/Corporation

How To Get The Biggest Tax Deduction For Business Travel And Meals Under The New Law

We've simplified this tax law for you to know what can be deducted, at how much-100% or 50%, and what you need to back it up.

Tax | Practice/Corporation

Will Converting To “C” Corporation Status Cut Your Taxes?

Our comparative tax analysis tells you whether the “juice justifies the squeeze.”

Tax | Practice/Corporation

How To Get The Maximum Business Car Deductions Under The New Law

Use these 3 categories of vehicles to understand available tax savings when deciding what business car you should purchase.

Tax | Practice/Corporation

Should You Disincorporate To Boost Your New 20% Deduction For Pass-Through Practice Profits?

Other advisors have varying opinions. Here's why we recommend that doctors "make haste slowly."

Tax | Practice/Corporation

Top 10 Strategies To Maximize Tax Savings From The New 20% Deduction For Pass-Through Practice Profits

While the new tax law is incredibly complex, these examples show the tremendous savings possible through proper advance planning.

Tax | Practice/Corporation

New Ruling Boosts Chances To Claim Small Business Health Insurance Tax Credit

See if your practice benefits from a new lucrative tax credit when providing staff health coverage.

Tax | Practice/Corporation

Tax Court Expands Fully Deductible Business Meals To Increase Your Tax Savings

What do hockey teams have in common with doctors and their staff? They all have to eat when away on business, for one thing.

Tax | Practice/Corporation

How To Use Subchapter S Corporations To Maximize Your Tax Savings

Apply these 5 steps to reduce your risk of an IRS audit while realizing substantial savings both pre and post practice sale.

Tax | Practice/Corporation

How To Pay And Categorize Travel, Meal, And Entertainment Expenses To Maximize Your Tax Savings

Don't wait until you receive an IRS notice to start "getting your story straight."

Tax | Practice/Corporation

Selling Out? Avoid These Two Tax Traps That Can Cost You $80,000!

Doctors should properly classify intangibles for greater tax savings. Here's how to prevent the common classification errors.

Tax | Practice/Corporation

Leasing New Space? 3 Strategies To Slash Your Taxes

These new tax breaks can make your practice move even more profitable!

Tax | Practice/Corporation

Save Thousands Using A Health Reimbursement Account (HRA)

Not providing staff health insurance coverage? Your practice may still be able to offer health benefits while enjoying tremendous savings with this tax-free fringe benefit plan!

Tax | Practice/Corporation

Slash Your Taxes In Style By Purchasing Antiques Through Your Practice

How to increase patient referrals and office appeal while saving taxes!

Tax | Practice/Corporation

Take Advantage Of The New Small Business HRAs

New law extends the benefits of a medical expense reimbursement plan to practices that do not provide health insurance coverage.

Tax | Practice/Corporation

Maximizing Business Car Write-Offs

Know which of the 4 categories applies to your practice vehicle to maximize tax deductions under IRS regulations.

Tax | Practice/Corporation

Deducting Clothing Costs

Making yourself a “walking billboard” could provide more advantages beyond practice promotion.

Tax | Practice/Corporation

Tax Court Slams Year-End Bonuses To “Zero Out” C Corporation Profits

C corps run the risk of double taxation among other disadvantages. Here's what you should do.

Tax | Practice/Corporation

How To Maximize Your Section 199 Tax Deduction

While some doctors are taking advantage of this tax break, most doctors (and their CPAs) are not. Are you missing out on thousands of dollars in tax savings?

Tax | Practice/Corporation

Boost Employee Morale With Tax-Free Awards

Check out these points to effectively implement a fringe benefit plan that will work for you and your staff!

Tax | Practice/Corporation

How To Operate A Lab Business For Maximum Tax Advantages

While many doctors transfer the ownership of their office building into an LLC/FLP, a lab business has many added benefits.

Tax | Practice/Corporation

More Creative Tax Deductions

Embrace the lowered audit risk and deduct more home office expenses!

Tax | Practice/Corporation

3 Strategies To Avoid Double Tax On Solo Practice Sales

If you're currently operating as a “C” corporation, you may want to consider making this switch.

Tax | Practice/Corporation

Recent Case Opens Door To “Manufacture” Additional Practice Tax Deductions

An aggressive interpretation of the law would suggest that most doctors qualify. Do you?

Tax | Practice/Corporation

How To Effectively Write Off Building Land Costs

Here’s our alternative strategy for doctors hesitant to part with the full value of their office building for the benefit of their children.

Tax | Practice/Corporation

Stop Overpaying Your Property Taxes!

Could you be paying property taxes on equipment and furniture that you no longer even own?

Tax | Practice/Corporation

How Will The New Expense Capitalization Rules Affect Your Practice? (Online-Only Article)

Find out which equipment, supply, and instrument costs must be capitalized rather than expensed, and when repair costs can be deducted, according to new IRS regulations.

Tax | Practice/Corporation

How To Maximize The Tax Benefits Of Subchapter S Corporations (Online-Only Article)

Check out the payroll tax savings comparison of operating as an “S” corporation vs. a “C” corporation or being unincorporated.

Tax | Practice/Corporation

IRS Changes Its Tune - - No 3.8% Medicare Payroll Tax Due On Doctors’ Office Building Rental Profits

At last - final regulations for Section 1411, which was added under Obamacare. Fortunately, there’s good news!

Tax | Practice/Corporation

Last Minute 2013 Tax Savings Using Business Car And Equipment Purchases

Been thinking about buying a new car or equipment for the office? Hurry - - the expensing limit is scheduled to shrink after December 31, 2013!

Tax | Practice/Corporation

Does The 3.8% Medicare Payroll Tax Apply To Your Office Building Rental Profits?

Hiking up the office building rent paid to your practice may no longer be a good idea for some doctors. Here’s why.

Tax | Practice/Corporation

IRS Slams Door On Dental Exemption From Medical Device Tax

How much will this excise tax add to the doctor's overhead costs annually?

Tax | Practice/Corporation

Required Tax Filings – How Many Have You Missed? (Online-Only Article)

Avoid costly audits and related interest and penalties - don’t miss these three necessary tax filings!

Tax | Practice/Corporation

How Will The New 2.3% Medical Device Tax Affect Your Practice?

If you thought it wouldn’t apply to dentistry, think again.

Tax | Practice/Corporation

Does Your Practice Qualify For The Domestic Manufacturing Production Deduction?

See how the Congressional definition of “manufacture” is being stretched. Could your practice benefit?

Tax | Practice/Corporation

Congress Extends Payroll Tax Cut For All Of 2012

Good news for doctors! Because of a recent payroll tax cut extension, you could be entitled to receive over $2,000!

Tax | Practice/Corporation

How Much Salary Must S Corporation Doctors Take To Survive The Growing Risk of IRS Attack?

Reasonable compensation is defined as…

Tax | Practice/Corporation

Are Supplier Rebates Tax-Free?

Failing to report rebates/refunds as taxable income could constitute criminal tax evasion.

Tax | Practice/Corporation

Use Simplified Sales And Use Tax Reporting To Avoid Penalties While Saving Time And Money

Purchasing supplies online? Make sure you understand and pay your tax liability, or risk audit from cash-strapped states.

Tax | Practice/Corporation

How to Maximize Tax Benefits By Employing Your Spouse

If your spouse is not on the payroll, you are missing out on some of the substantial tax benefits of practice ownership.

Tax | Practice/Corporation

Three Strategies to Accelerate Major Tax Deductions

With cash tight, it’s especially important that doctors take maximum advantage of tax breaks they can receive without additional spending.

Tax | Practice/Corporation

Court Strikes Down Tax Benefits For Incorporated Doctor Without Employment Contract

Failure to properly establish your corporate legal documents may lead to a disastrous tax result.

Tax | Practice/Corporation

How to Handle a Business Car for Maximum Tax Benefit

Save thousands of dollars by running legitimate automobile expenses through your practice.