Tax

Here is an obvious statement: The U.S. tax code is complicated. Many people don’t mind paying their share of taxes, but the complexity of our tax system causes a multitude of problems. Federal estimates put the collective time spent on taxes at 6.08 billion hours in 2020. That is a lot of time to do taxes.…

If you are a doctor, you probably make a good income.  And because that is the case, you might assume you will owe more taxes to the government. Although your tax obligations are typically quite high, medical practices like yours have many legal tax strategies available to them. You might be surprised how much potential…

Now that we are in tax season, you want to make sure you do everything in your power to keep as much of your own money as possible.  One way to accomplish this endeavor is by searching for any and all tax deductions. You may be surprised to learn how many ways you can deduct…

More than half of all U.S. taxpayers, or many tens of millions of people, will use a tax preparer during tax season. Even if you have retained the services of a professional tax preparer, it doesn’t necessarily mean your taxes will be done right. Just like selecting a doctor or a plumber, you need to…

Are you considering selling your dental practice?  If you are, then maybe you are wondering what the tax implications might be for the upcoming sale. As you prepare to sell your dental practice, you want to make sure you maximize your dental practice value and minimize your tax obligations. You do not want to be…

When you donate to certain organizations, not only does it feel good knowing you are supporting a worthy cause and helping others in need, but you also receive a nice additional benefit of lowering your taxable income. That’s right. Charitable contributions can absolutely reduce your taxable income, meaning you get to keep more of your…