Archive for April 2021
Why Tax Planning is So Important for Dental Businesses
Tax planning is critical for dental businesses wanting to mitigate their liabilities and risks. It is especially the case when you consider nearly all business transactions are taxed. As you go about tax planning, it is imperative to know and be current with all tax law changes in effect and understand how they could impact…Read More
Oops, I Missed my Estimated Tax Payment!
Date Extension The IRS extended the filing deadline to May 17, 2021, but did not extend the April 15 deadline for 2021 first quarter estimated tax payments, which has caused some confusion. Your accountant told you to make an estimated tax payment toward this year’s taxes, but you missed making the payment on April 15th. …Read More
How Much Can a Small Business Make Before Paying Taxes?
A majority of small businesses are owned by individuals. Sole proprietorships, partnerships, S corporations, and Limited Liability Companies (LLCs) do not pay income taxes. Unless a specific election is made by a small business to be taxed as a C corporation, the IRS (Internal Revenue Service) considers these various entity types to be “pass-through” entities.…Read More
3 Stats That Indicate a High Performing Dental Practice
Like any business, running a successful dental practice is a numbers game. And it’s not just dollars and cents, but, more importantly, statistical trends that bring to light why your bottom line moves one way or another every year. Being aware of these important numbers will help everyone at your dental business understand the advantages…Read More