Three Important Phrases That Increase Treatment Acceptance
One of the most frustrating aspects of dentistry is to go to great lengths to explain treatment needs only to have patients walk out the door without scheduling. Dentists and teams often… Continue On +
Employee Business Expenses & Tax Reform
If you are an employee (i.e., a W-2 wage earner) with substantial work-related business expenses, the Act was not kind to you. It suspended (and effectively repealed), for 2018 through 2025, all… Continue On +
Tax Reform Cracks Down on IRA Recharacterizations
If you have been or are anticipating converting your traditional IRA to a Roth IRA, you should be aware of a tax trap that Congress built into the Act. Background: There are… Continue On +
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 +
Steps to Take When the Schedule is Slow
How do you respond when you look at the schedule and see huge openings? While it is normal to be concerned, it is important to not become consumed with worry. There is… Continue On +
Using Online Agents to Rent Your Home Short Term? You May Be Surprised at the Tax Ramifications
If you are among the many taxpayers renting your first or second home using rental agents or online rental services that match property owners with prospective renters, such as Airbnb, VRBO and… 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 +
Are You Accidentally Turning New Dental Patients Away?
How many new dental patients do you turn away each month? Almost every dental team would say that new patients are never turned away, especially given how hard most practices work at… 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 +