This week brings another solocast episode of the Progressive Dentist podcast, where we focus on everything dental practitioners should be doing as they close in on year-end and prepare for 2021. Since we are not quite sure what 2021 is going to bring, it is critical that you initiate conversations with your CPAs so you can bolster your books against any disaster scenario. During the solocast, We take a look at some of the key talking points you should bring to your CPA in order to put the most effective tax strategy in place.
If you are looking for a good place to start, Paycheck Protection Program and Economic Injury Disaster Loan forgiveness should be at the top of the conversation. After that, you should consider more specific tactics like fully-funding your 401k before year-end, or reviewing your initial tax projection based on how the year has panned out. This doesn’t have to be a pain in the neck, and you’re not in this alone. For more strategies you can use to reduce your tax liability and save thousands, make sure to order my book, “The 12 Biggest Tax Mistakes That Cost Dentists Thousands,” or enroll in my online course. As always, please visit me at www.theprogressivedentist.com for more informative, money-saving podcast episodes like this one.