Critical Tax Deductions for Dentists

As we approach the end of 2024, the window to maximize your tax deductions is quickly closing. Join Bob Gray, a renowned dental accounting expert and founding member of the Academy of Dental CPAs, as he shares strategies to seize last-minute deductions before they disappear.                                                                                  Learning objectives include: · Critical tax deductions that many dentists miss · Tax code updates, including the pass-through entity tax · Section 179 depreciation deduction options, such as strategic year-end equipment purchases and potential write-offs · Cost-segregation and how this could contribute to one of your largest tax deductions · Entity selection for dentists (should I be an S-corp or a PLLC?) · Personal tax implications such as HSAs, retirement accounts, ROTH IRAs, and 529s 0:00 - 6:05 Introduction 6:05 - 8:36 Tax Planning Considerations 8:36 - 9:30 Changes for 2024 9:30 - 11:30 Maximize Itemized Deductions 11:30 - 12:48 What is ERC? 12:48 - 14:40 Recovery Start-Up Business 14:40 - 18:30 What Can I Claim? 18:30 -26:06 Section 179 26:06 - 28:27 Pass Through Entity Tax 28:27 - 31:40 Other Tax Considerations 31:40 - 36:59 Sample Analysis 36:59 - 44:36 HSA, ROTH IRAs, 529 Limits 44:36 - 51:26 Tax Deduction That Many Dentists Miss 51:26 - 01:04:47 Q & A Rely on Us. Learn more at henryscheindental.com Subscribe to our channel at http://bit.ly/HSDsubscribe Connect with us on: Facebook – http://facebook.com/HenryScheinDental Instagram – http://instagram.com/hscheindental Twitter – http://twitter.com/HScheinDental LinkedIn – http://linkedin.com/showcase/henry-schein-dental