Tax blog featuring strategies to help dentists and dental professionals save money on taxes now. Craig Cody is a CPA licensed in all 50 states.
There is a common arc to most dentists’ careers. Early on, younger dentists are working to establish themselves and build their reputation. Older, established dentists are often working toward retirement and leaving their practice. These transition periods can be difficult … Read more
Okay. Tell me about your hypothetical business. Lets do some tax planning for your business.
I’m a painting business. We’ve been in business two and a half years, roughly. We just did $550,000 in revenue. We do about 100 projects … Read more
I can’t do that. If I do, I’m going to get audited. That is Audit Paranoia! Very few people get audited, and if you’re deducting something, you’re doing it correctly, and you’re documenting it, do not worry? Most audits … Read more
What would you say are some of the biggest tax mistakes you’ve seen in your experience?
The biggest tax mistakes we see is, as far as in my world of tax planning and running a business and stuff like that, … Read more
So I have a question for you. Let’s say you feel like you haven’t done it right in the past few years. Can you go back to the past years and right your wrongs so to speak? Can you … Read more
For potential tax breaks and benefits as far as that goes, I don’t know if you’d be able to answer this question or not? Can you tell me, let’s say I was going to go out and look at purchasing … Read more
It’s all about keeping more of what you make, and you want to find that person that’s going to help you legally keep more of what you make.
Exactly. I love it. When we talk about communication and how often … Read more
Craig, we were talking pre show and you were telling me about a Medical Expense Reimbursement Plan. Can you tell us about them and some outside of the box tax deductions available for real estate investors.
The medical expense reimbursement … Read more
There’s something in the new tax rules called qualified business income, which has to do with pass throughs such as your S corporations and your LLCs, and what that does is it gives you a pass through deduction of up … Read more
As a business owners, we all have the same problems? Sometimes they’re worse than others, but most people that have been in business have experienced all those problems. You might be in one spot, and somebody else might be another … Read more
