Posts by Ed Gabriel
Mixing Business & Pleasure Travel
Ah, the joys of combining business and pleasure—the ultimate two-for-one deal, right? Well, not exactly. While you can enjoy the benefits of mixing work with fun, it’s important to understand how the IRS distinguishes between business and personal travel. With some planning and recordkeeping, you can take advantage of valuable tax deductions without stepping outside…
Read MoreDental Supplies Procurement & Technology: A Game Changer for Your Practice
As a dental CPA firm, we keep our ear to the ground to identify best business practices that can help improve the profitability and efficiency of dental practices. One significant area where technology is making a major impact is dental supplies procurement. Dental supplies account for a substantial portion of a dental practice’s expenses. In…
Read MoreEmployee or Business Owner?
For dental professionals considering a career shift, the choice between being an employee or a business owner comes with significant tax implications. While owning a practice or business can offer greater tax deductions, retirement savings opportunities, and financial flexibility, it also comes with additional responsibilities like self-employment taxes and operational costs. Understanding the tax advantages—such…
Read MoreTax Benefits of Rental Real Estate
Real estate can be a powerful tool for building wealth while offering unique tax advantages. From depreciation deductions to rental income offsets, investing in rental properties can help reduce your tax burden and improve cash flow. However, the rules around real estate taxation can be complex, with depreciation schedules, passive loss limitations, and financing strategies…
Read MoreDental Industry Salary Trends in 2025: What Dental Practices Need to Know
As the dental industry continues to navigate a rapidly changing workforce, compensation and job satisfaction are taking center stage in 2025. The latest DentalPost Salary Survey reveals new insights into how dental professionals are feeling about their pay, benefits, and work environment—and what these trends mean for your practice. At DrillDown Solution, we work closely…
Read MoreDental Patient Financing: A Strategic Tool for Growth and Case Acceptance
As a dental CPA, we see firsthand how patient financing can impact both the financial health of a practice and the accessibility of care for patients. In today’s economic climate, offering flexible financing isn’t just a “nice to have”—it’s a necessity. But it’s not just about offering financing; it’s about offering the right kind of…
Read MoreBusiness Tax Deductions & Credits
When it comes to managing your business’s tax liability, understanding the difference between deductions and credits is key. While both can lower your tax bill, they work in distinct ways. Deductions reduce your taxable income, while credits offer a dollar-for-dollar reduction in taxes owed. However, the interplay between the two can sometimes limit the overall…
Read MoreThe Hidden Threat of Embezzlement in Dental Practices: What You Need to Know
Dental embezzlement is a serious problem that affects thousands of practices across the United States and Canada each year. While it’s easy to assume that embezzlement is a rare occurrence, the reality is that many practice owners are unaware of the risks and signs, allowing the theft to continue unchecked. In fact, it’s estimated that…
Read MoreWorkers – Are they 1099 or W-2?
Properly classifying workers as either independent contractors (1099) or employees (W-2) is a critical decision for businesses. While paying a worker as a contractor may seem easier, misclassification can lead to audits, penalties, and compliance issues with the IRS and state agencies. Employers often prefer 1099 workers to reduce payroll costs, while workers may favor…
Read MoreVehicles – The Road to Tax Deductions
When using a vehicle for business purposes, understanding the tax implications and deduction options is crucial. Whether the vehicle is personally owned or owned by the business, the IRS provides guidelines for deducting expenses, including mileage reimbursement and actual costs. However, vehicle tax rules are complex and frequently updated, making proper documentation essential. This article…
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