Hope you and your families are doing well. Earlier this month the Senate passed H.R. 7010 to modify specific provisions related to the PPP Loan forgiveness. As expected the President signed it into law This is great news and honestly should have been done months ago! The changes will most likely allow dental practices to […]
Year End Tax Strategies for Dentists
As we move into the last Quarter of 2018, this is a great time to review your tax strategy with your Dental CPA. You should make sure your Dental Independent Contractor Business or your Dental Practice is taking advantage of the tax deductions available to dentists. Below are some Year End Tax moves to consider. […]
Impact of 2018 Tax Reform on Dentists
As most of you have probably heard, President Trump signed the Tax Reform Bill rolling out some of the largest Tax Reform since the Reagan Administration. The key question is how will this impact dentists operating their own practice and/or working as Independent Contractors. Dental Practice and Dentists working as Independent Contractors are considered Businesses […]
New Proposed Tax Laws and the Effect on Dentists Practicing as S Corporations
New Tax Laws have been proposed by the Republican’s last Thursday. Dentists and Dental Practices setup as S Corporations are asking, “How will this affect them” At Virjee Consulting, we have been following the proposed tax bills closely. Below are some key points: If your LLC or S Corporation provides professional services such as accounting, […]
Purchasing a Dental Practice Using an S Corporation
Should you purchase a dental practice using an S Corporation? What if you already have a corporation, do you have to create another one? We often have clients that contact us during tax season after they have purchased a Dental Practice as an S Corporation. Many dentists working as independent contractors have had an accountant […]
Tax Planning Mistakes which Cost Dentists Thousands Each Year
Happy February Dental Professionals Below are a few key mistakes most Dental Professionals make that cost them thousands each year. Mistake #1 Dentists working as Interdependent Contractors- Failing to form a S Corporation or Not using their S Corporation Correctly. Tips If you have not formed a S Corporation you are possibly over […]