Have Business Income? If So, You Score Big With The New Tax Reform
As part of the Act, Congress changed the tax-rate structure for C-corporations to a flat rate of 21% instead of the former graduated rates that topped out at 35%. Needing a way… Continue On +
Medical Deductions & The New Tax Law
Article Highlights: Medical Deductions Retained by the Tax Reform Law Adjusted Gross Income Floor Dropped to 7.5% The Standard Deduction Bunching Medical Deductions Unusual Medical Deductions Medical Dependents Divorced Parents Note: The… Continue On +
New Tax Law Cracks Down on Home Mortgage Interest
For years, taxpayers have been able to deduct home mortgage interest on their primary and second homes as an itemized deduction, subject to certain limitations. The interest deduction was limited to the… Continue On +
How Much Production Are You Losing to Write Offs?
Let’s say your practice bills out $5,000 of production today. How much of that production would you expect to collect? There are typically differences between what is produced and collected, and the… Continue On +
Sold Your Home This Year? Thinking of Selling? Read This!
Article Highlights: Home Sale Exclusion 2 out of 5 Rule Business Use of the Home Gain or Loss from a Sale Previous Use as a Rental Records If you sold your home… Continue On +
Charitable Contributions
As we approach the end of the year it’s common for taxpayers to start looking at making charitable donations to minimize their tax bill. Depending on the size of the donation there… Continue On +
Expense Series Part 5
Behind staffing costs, direct costs are typically the second largest expense category for dental practices. In the Portland area, a general dentist typically spends 12.3% of their collections on dental supplies and… Continue On +
Expense Series Part 4
Do you often send out hundreds of mailers and ask yourself “Am I paying too much to advertise, and is this even working?” If so, you are not alone. Advertising and promotional… Continue On +
Expense Series Part 3
In the previous post of this series we discussed staffing costs and how to analyze them, along with questions to ask yourself if your costs are below market averages. In this post,… Continue On +
Expense Series Part 2
Without a doubt, the costs associated with employing staff and hygienists are the single biggest operating expenses that a practice will have, in fact, staff and hygiene costs on average are just… Continue On +
Why Isn’t Your Hygienist Getting Busier?
If you are consistently adding at least twenty new patients each month per full time dentist in your practice, your hygiene team will gradually get busier with seeing new and continuing care… Continue On +
Expense Series Part 1
“How are my expenses looking?” is one of the most common questions we hear from our clients. Many doctors review the production and collection numbers and can instantly tell you whether their… Continue On +