As crazy as it sounds we are close to heading into the final Quarter of the year. This is an important time to review your current tax strategies to make sure they are fine tuned to maximize savings for 2022 along with having a discussion over what the practice landscape will look like in 2023. […]
Tax Deductions for Dental Practices
TWC Cracking down on Dental Office Contractor Classifications
It is common for Dental Offices to have temp workers, that may work for a day, or a few days. Many dentists will just pay these workers with a cash or check at the end of the day instead of adding them on payroll. For the obvious reasons of the administrative aspect of setting up an […]
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 […]