SALT Deduction – Battle Lines Have Been Set and Swords Have Been Drawn
Tax reform has limited the federal itemized deduction for state income and local government taxes (including property taxes), collectively referred to as the SALT deduction, to $10,000 a year. This set off… Continue On +
Kiddie Tax No Longer Based on Parents’ Tax Rate
Some years back, it was not uncommon for parents to put their investments in their dependent children’s names to take advantage of their children’s lower tax rates. Although the Uniform Gift to… Continue On +
Growing the Recall Patient Base
For dental practices that want to grow, adding new patients is very important; however another measure that is equally important is the growth of the recall patient base. Just because you add… Continue On +
Tax Reform Eases the Alternative Minimum Tax – But It’s Still There
To repeal the alternative minimum tax (AMT), they failed to do that when they passed tax reform in 2017. Instead, they lessened the effects of the AMT by increasing AMT exemptions (an… Continue On +
Why Should You Have a Strong Harassment Policy?
As the spotlight continues to grow on workplace sexual harassment, it is more important than ever for companies to have a strong harassment policy. In 2016, the Equal Opportunity Employment Commission (EEOC)… Continue On +
Reducing Staff Costs
Not only is it challenging to recruit and retain a great dental team, but it is also challenging to keep staff costs under control. Your greatest asset, your team, is also your… Continue On +
Unwelcome Surprises with Extra Treatment Costs
Let’s assume your dental patient has been properly informed about treatment and agreed in writing to estimated out-of-pocket costs. Now the patient is receiving treatment for a crown; however an additional cavity… Continue On +
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 +
Qualifying Language Does Not Motivate Patients to Schedule
Since patients seek direction from their dentist, giving clear guidance about treatment needs is critical. If patients do not understand the importance of treatment, they are far less likely to schedule. Treatment… 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 +