Practice Action Plan
Just like you, we love it when a plan comes together, but not everyone knows how, or where to begin, when creating that plan. Or perhaps a plan was created, but now… Continue On +
Take Advantage of a Home Office Reimbursement
If you have a home office and are looking for ways to maximize your tax savings maybe it’s time to look into the home office reimbursement. This reimbursement method allows a corporation… Continue On +
Children are Prime Targets for Identity Theft
One of the most surprising statistics about identity theft is that more than one million children were victims of identity theft and fraud last year (according to Javelin Strategy and Research). Fraud… Continue On +
SALT Deduction – Battle Lines Have Been Set and Swords Have Been Drawn
Tax reform has limited the federal itemized deduction for state income and local government taxes (including property taxes), collectively referred to as the SALT deduction, to $10,000 a year. This set off… Continue On +
Kiddie Tax No Longer Based on Parents’ Tax Rate
Some years back, it was not uncommon for parents to put their investments in their dependent children’s names to take advantage of their children’s lower tax rates. Although the Uniform Gift to… Continue On +
Unwelcome Surprises with Extra Treatment Costs
Let’s assume your dental patient has been properly informed about treatment and agreed in writing to estimated out-of-pocket costs. Now the patient is receiving treatment for a crown; however an additional cavity… Continue On +
How to Catch Up on Past Due Accounts Receivables
Your practice can lose sight of past due accounts receivables during periods of staff transition, practice growth, and/or ineffective account follow through. When the problem is finally identified, past due accounts have… Continue On +
Setting a Timeframe for Dental Treatment
If you are like most people, when you make an important recommendation, you often put a timeframe around it; otherwise your suggestion does not carry as much weight. The same goes in… Continue On +
TAX ALERT- Are your new 2018 withholdings sufficient to cover your tax liability?
In March of 2018 the IRS adopted new withholding tables for wages and retirement distributions. These tables were designed to adjust the withholdings for the new tax laws that will be effective… Continue On +
Tax Reform Limits Exchanges to Defer Taxes
Article Highlights: Deferring Tax with Like-Kind Exchanges Changes Made by Tax Reform Impact on Trade-ins Whenever you sell business or investment property and have a gain, you generally have to pay tax… Continue On +
Personal Casualty Losses Axed by the New Tax Law
A casualty loss occurs when there is property damage from a sudden, unanticipated event, not from gradual, progressive damage. Examples of events qualifying as a casualty include: acts of nature like hurricanes,… Continue On +
Employee Business Expenses & Tax Reform
If you are an employee (i.e., a W-2 wage earner) with substantial work-related business expenses, the Act was not kind to you. It suspended (and effectively repealed), for 2018 through 2025, all… Continue On +