Health Savings Accounts Fill Multiple Tax Needs
The Health Savings Account (HSA) is one of the most misunderstood and underused benefits in the Internal Revenue Code. Congress created HSAs as a way for individuals with high-deductible health plans (HDHPs)… Continue On +
How to Catch Up on Past Due Accounts Receivables
Your practice can lose sight of past due accounts receivables during periods of staff transition, practice growth, and/or ineffective account follow through. When the problem is finally identified, past due accounts have… Continue On +
Has Tax Reform Taken Away Your Home Mortgage Interest Deduction?
The Tax Cuts and Jobs Act of 2017, more commonly referred to as tax reform, substantially altered the itemized deduction for home mortgage interest and affects just about everyone who has been… Continue On +
Setting a Timeframe for Dental Treatment
If you are like most people, when you make an important recommendation, you often put a timeframe around it; otherwise your suggestion does not carry as much weight. The same goes in… Continue On +
Good and Bad News About The Home Office Tax Deduction
“Home office” is a type of tax deduction that applies to the business use of a home; the space itself may not actually be an office. This category also includes using part… Continue On +
TAX ALERT- Are your new 2018 withholdings sufficient to cover your tax liability?
In March of 2018 the IRS adopted new withholding tables for wages and retirement distributions. These tables were designed to adjust the withholdings for the new tax laws that will be effective… Continue On +
Big Changes to the Kiddie Tax
Years ago, to prevent parents from transferring their investment accounts into their children’s name to avoid taxes, Congress created what is referred to as the kiddie tax. This counteracted the strategy of… Continue On +
So Long To The Tax Deduction For Investment Expenses
Under the new tax reform law, investment expenses are no longer deductible as a miscellaneous itemized deduction. This means, for example, that if you have an investment account and are paying fees… Continue On +
Solar Tax Credit: The Dark Side
There are TV ads, telemarketing phone calls and sales people at your front door all promoting the benefits of solar power, and one of the key considerations and a frequently mentioned benefit… Continue On +
Tax Reform Adds Education Benefit
Tax law provides two tax-advantaged savings plans for the Qualified State Tuition Plan (commonly referred to as a 529 Plan). They are similar in that contributions to the plans are not tax… Continue On +
Openings in the Schedule Can Create Opportunities
How do you and your team utilize time when there are openings in the schedule? While openings throw off the rhythm of a team used to seeing patients, if you plan appropriately,… Continue On +
Tax Reform Limits Exchanges to Defer Taxes
Article Highlights: Deferring Tax with Like-Kind Exchanges Changes Made by Tax Reform Impact on Trade-ins Whenever you sell business or investment property and have a gain, you generally have to pay tax… Continue On +