Dental Office Managers – Preparing Your Practice for 2021 Video
Dent Moses partner, Trey Whitt, joins Stuart Oberman of Oberman Law Firm, and Laci Phillips of Practice Dynamics to discuss preparing your practice for 2021. Topics include: Legal Update – 2021 Internal Review – COVID-19 Employer Mitigation – 2021 Employment Law (Must Know) Dental Update – Dental Practice Leadership – Dental Office COVID-19 Evaluation –…
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Introducing IRS Form 1099-NEC
For many years, non-employee compensation has been reported in Box 7 on IRS form 1099-MISC. Beginning with the tax year 2020, non-employee compensation will be reported on the new form 1099-NEC in Box 1.
CARES Act Provider Relief Fund Open to Dentists
The U.S. Department of Health & Human Services recently opened up the CARES Act Provider Relief Fund to dentists
What to do with all these pesky 1099s directed toward your business
I received an email from a dental client of mine yesterday – he unwittingly inspired this post. His question was, “What do I do with this mountain of 1099s that I have received in the business?” This is a short question with a long answer. First, the rules The may be a refresher for most…
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Year-End Tax Tips for Medical Practices
As the year comes to a close, we share a few tips to help you bring the year in for a smooth landing. Personal Tax Projections Take the time to prepare your personal tax projection and compare your estimated tax liability to the tax you have paid to date. This does not need to be…
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2016 – 2017 Key Payroll Facts and Figures
Our “Key Payroll Facts and Figures” booklet has a quick reference guide, a few forms you might need, and a list of helpful links. You can find the guide by clicking the link above or by heading to the Resources tab on our website. If we can answer any questions regarding the information in the…
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New Per Diem Rates Effective October 1, 2016
There will be an update to per diem rates effective beginning October 1st. First, let me offer some background. If you have employees that incur frequent business travel, it can often be cumbersome for those employees (and perhaps for the chief accountant) to accumulate receipts for reimbursable expenses paid by the employee. As an alternative, tax…
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What Dental Practice Owners Need to Know About Revenue
If a dental practice has a 70% overhead, each extra dollar collected by the practice delivers only 30 cents in profit to its owner, right? Wrong! Dental practices are largely fixed cost operations, meaning that the additional revenue generated by a practice does not pick up the entire slate of overhead expenses. In fact, two…
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Use Tax Compliance for Business Owners
Business owners pay many different kinds of taxes every year. Of those taxes, sales tax is probably the easiest to understand. If a business owner buys $100 in dental supplies and the tax rate is 10%, then the business owner pays an extra $10 to cover the tax. The vendor collects and pays the sales…
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What to Consider when Purchasing a Company Vehicle
Clients often ask if there is an advantage to having a company vehicle, and unfortunately, it is not a simple answer. There are several variables to consider, and several pros and cons that go along with each variable. The first thing you must consider are the possible benefits having a company vehicle could bring to…
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