Rejoice – Business Meals Are Still Deductible
If you are a business owner who is accustomed to treating clients to sporting events, golf getaways, concerts and the like, you were no doubt saddened by the part of the tax… Continue On +
How to Frame Change
Rick Goodwin once said the following about change: “One reason people resist change is because they focus on what they have to give up, instead of what they have to gain.” How… 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 +
Reducing Staff Costs
Not only is it challenging to recruit and retain a great dental team, but it is also challenging to keep staff costs under control. Your greatest asset, your team, is also your… 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 +
Health Savings Accounts Fill Multiple Tax Needs
The Health Savings Account (HSA) is one of the most misunderstood and underused benefits in the Internal Revenue Code. Congress created HSAs as a way for individuals with high-deductible health plans (HDHPs)… 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 +
Has Tax Reform Taken Away Your Home Mortgage Interest Deduction?
The Tax Cuts and Jobs Act of 2017, more commonly referred to as tax reform, substantially altered the itemized deduction for home mortgage interest and affects just about everyone who has been… 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 +
Good and Bad News About The Home Office Tax Deduction
“Home office” is a type of tax deduction that applies to the business use of a home; the space itself may not actually be an office. This category also includes using part… 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 +