It’s estimated that most dental practices overpay their taxes. We don’t want yours to be one of them! There are several deductions where your dental practice could be saving money on taxes, even on everyday expenses. Two words to keep in mind when claiming dental tax deductions: ordinary and necessary. Both conditions must apply […]
Tag: 2016 taxes
Tax Savings for Dentists
Could you be paying too much in taxes for your dental practice? Below are five areas where you may be overspending. Deducting Business Expenses Other than the typical business expenses you’re probably aware of, like meals and entertainment and mileage, there are other deductible business expenses that could save you more on taxes. These […]
Six Mistakes to Avoid When Filing Taxes
Filing out tax forms with incorrect SSC number The IRS computers will automatically reject your deductions and credits if your Social Security number is wrong. This mistake seems careless and trivial, but it is paramount to have the right Social Security number when filing your taxes. Your social security number is your tax ID […]