Business Financial
Avoiding the Lending Wall: What Dentists Need to Know Before Expanding to Multiple Locations
Expanding from one dental practice to two or three can be one of the most exciting — and financially challenging — transitions in a dentist’s career. Growth brings opportunity, but it also brings a new level of financial scrutiny. Dentists adding locations need to ask their banker what their options will be down the road.…
Read MoreHow Dentists and Business Owners Can Save Taxes by Hiring Their Children
Hiring your children to work in your dental practice or small business can be a smart and fully legal tax-saving strategy—when done right. Not only does it teach valuable life and financial skills, but it can also shift income into lower tax brackets, avoid payroll taxes in some cases, and keep more wealth within your…
Read MoreUnlocking Tax Savings: The R&D Tax Credit for Dentists
Most dentists don’t think of themselves as doing “research and development,” but if you’ve ever improved a process, tried new materials, or explored innovative ways to serve your patients, you may be closer than you think. The Research & Development (R&D) Tax Credit is a powerful federal incentive designed to reward innovation. While often associated…
Read MoreFive Myths Your Landlord Wants You to Believe
Navigating a commercial lease for your healthcare practice can be overwhelming—especially when misinformation is at play. Landlords often present lease terms that seem fair on the surface but may not be in your best financial interest. Understanding the most common myths can help protect your practice from costly mistakes. Below, we break down five misconceptions…
Read MorePaying Employees and Contractors
Properly paying employees and contractors is an essential part of running a business. Whether you’re managing a small startup or a growing company, understanding the differences in how to compensate your workforce—whether employees or contractors—ensures compliance with tax regulations and avoids costly mistakes. Before you can even start the payment process, however, it’s crucial to…
Read MoreWhy is my distribution being taxed as Capital Gains?!
If you’re a shareholder in an S Corporation, you might be surprised—or frustrated—to find out that a distribution you thought was tax-free is now showing up as capital gains on your tax return. What’s going on? Let’s break it down. The Issue: Basis Determines Taxability In most cases, distributions from an S Corporation to a…
Read MoreShift Income to Save on Taxes with Child Wages
If you’re a business owner with children, you may be missing out on a valuable—and IRS-approved—opportunity to shift taxable income to a lower tax bracket. By employing your child in your business, you can reduce your overall tax liability and teach them the value of earning money at the same time. Why It Works: Two…
Read MoreMixing 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 MoreI’m Starting a Business! What You Need to Know
Starting a business is an exciting but complex endeavor, requiring careful planning and attention to legal and financial details. From choosing the right business structure to managing taxes and accounting, understanding the key steps can set you up for long-term success. This guide outlines the essential considerations for entity registration, financial management, and tax obligations…
Read MoreThe Tax Benefits of Hiring Your Children: A Guide For Parents
Hiring your children is one of the smartest tax strategies for small-medium sized business owners. It’s not just about saving money; it’s also an opportunity to teach your kids about the value of work, responsibility, and managing finances. This guide will walk you through the key benefits, tax rules, practical steps, and some often-overlooked advantages…
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