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 +
Build Trust with Effective Hand-Offs
One of the most frustrating experiences for patients is repeating key points about health history and treatment needs to multiple members of the clinical team. Patients may wonder if the team is… 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 +
Can You Endorse Your Associate?
Assuming you are busy enough and have appropriate cash flow to add an associate dentist, how do you know if you are hiring the right associate? The right associate is not just… 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 +
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 It suspended (and effectively repealed), for 2018 through 2025, all… Continue On +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 +
Jumpstart Your Day with a Great Morning Huddle
If constructed the right way, morning huddles can help jumpstart your day by improving teamwork and the overall flow of the day. In addition, patients benefit because the dentist and team are… Continue On +