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If you’re used to a big tax refund each spring, don’t make plans for this year’s refund just yet. Millions of Americans who already stated filing their taxes anticipating a refund are getting noticeably less. Some taxpayers even owe money when nothing changed in 2018. What did change in 2018 was tax withholding. And with … Continued →
Now that tax season is here, you’re probably gathering last year’s receipts and financial documents and preparing for the meetings with your dental CPA. Even though your CPA will handle the heavy lifting, here are a few common items that are essential to tax planning for dentists. Tax Savings for 2019 and Beyond Health insurance … Continued →
The U.S. government was partially shut down on December 22, 2017 and was recently reopened last week; a record-breaking length of time. Although most of the damage to the economy will be reversed as federal workers return to their jobs, the CBO estimated $3 billion in economic activity is permanently lost. How will this affect tax … Continued →
2018 was the first year that most of the changes from the Tax Cuts and Jobs Act took effect. For the first time, we’re seeing the results on tax returns. Here’s a snapshot of the major changes that happened in 2019. Tax Brackets One of the biggest changes in 2018 concerned tax brackets. There are … Continued →
The Tax Cuts and Jobs Act of 2017 made sweeping changes to the federal tax code. Even though we’ve had a year to adjust, this filing season is the first time we’ve really started to see the results of changes that went into effect during 2018. There were a number of tax changes affecting dentists … Continued →