Category: Dental CPA Blog

  Need some advice on which to pick. Might come down to a personal preference?   OPTION 1   Amortization Period: 120 Months Fixed Rate: 6.40% No Prepay penalty after 1st year4 Payments of $0.00 8 Payments of $1,412.58 12 Payments of $2,825.17 12 Payments of $4,237.75 12 84 Payments of $5,650.34     OPTION 2…Read More→

  Here is another guest blog from our friends at Bowie and Jensen Law Firm. Handling employee departures like a pro takes practice, but the difference to your company can be significant. Each employee departure is unique and provides an opportunity to learn about your organization’s strengths and weakness. This is especially true in the…Read More→

  I am in the process of a start up and have made arrangements to have a cost segregation study done so I can take accelerated depreciation on my taxes within the first 5-10 years.I have agreed to pay extra on my rent in exchange for increase TI’s with the understanding that I will then be…Read More→

  I have had a dental practice (LLC) for the past 10 yrs. This year, I have purchased an office condo to move into in the next year or so. The office condo is owned by a different entity (LLC). Is there a way to deduct all (or part of) the expenses such as the cost of the new…Read More→

  I was interviewing with a dentist for an associate position which was advertised for an associate to become a partner later on. After talking, it seems the dentist actually wants to get rid of the practice as he owns another much nicer practice which is doing very well and has lot of other businesses…Read More→

  I’ve read that this category (meals and entertainment deductions) is highly scrutinized by the IRS, so I want to get it right. There are two types of meals and entertainment deductions: 50% and 100%.I have a monthly meeting with my whole staff at a restaurant: 100% I have a monthly meeting with my whole staff…Read More→

  Tax year 2010 offered a special one-time election to postpone the tax on Traditional IRA’s convertions to Roth IRA’s in that year.  Here we are now, learning from the IRS notices being received by dentists who took advantage of this tax postponement, that the IRS did not have their systems properly programmed to recognize…Read More→

  Hello,In 2011 my majority of income is from W2 as an employee, but there is a small portion ($8000) from 1099-MISC as an independent contractor. The W2 employer only paid my malpractice insurance premium, but I kept another long-held malpractice insurance paid by myself. Can I deduct the second insurance premium?   I believe…Read More→

  Here is a guest post from our good friend Morgan Pace of ETS Dental, the best dental recruiters we know of. The Secret Lives of Dentists I remember the first time that I ran into my family dentist in town rather than in his office. I was a teenager at the time, so I should not have…Read More→

  We’ve had several of our friends in the dental community inquire about how to best release an employee. We asked our friend (and employment lawyer) Nicole Windsor from Bowie and Jensen law firm to write this guest blog for us. Handling employee departures like a pro takes practice, but the difference to your company can…Read More→