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Omar Virjee

100% Bonus Depreciation Deduction a thing of the past starting 2023

January 15, 2023 by Omar Virjee

The lucrative 100% Bonus depreciation deduction which incentive business owners to buy cars, real estate, start businesses, buy equipment and make improvements to their business is coming to an end. The Facts From 2017 to 2022 businesses benefited tremendously from the 100% Bonus depreciation. This meant when you bought equipment, built out a new dental […]

Filed Under: Uncategorized

2022 Last Minute Tax Deduction Ideas

December 13, 2022 by Omar Virjee

2022 Last Minute Tax  Deduction Ideas

Below are some last minute tax deduction ideas for Dental Offices to Consider. If you are part of our Tax Planning and Consulting Program, we already incorporated most of these ideas into your 2022 strategy to lower your tax payments. But this is a good refresher to see if anything was missed before the end […]

Filed Under: Business Taxes

Virjee Consulting Enters Veterinary Market

November 8, 2022 by Omar Virjee

Virjee Consulting Enters Veterinary Market

Virjee Consulting is pleased to announce that the firm will be taking larger steps to enter the Veterinary market, as the CPA firm of choice for Veterinary Practices across the US. We are excited to roll out our new website, http://veterinariancpa.com that caters to our new market. Virjee Consulting is a CPA and Tax Consulting firm with […]

Filed Under: Business Taxes

Dentist with Real Estate Case Study

October 31, 2022 by Omar Virjee

Case Study Income before planning: $951,596 Income Tax before planning: $317,018 Income Tax after planning: $9,766 Savings: $307,252 Strategy Used: Multiple, including real estate, Cost Seg, time of write offs A dentist that owned two successful offices came to us with a huge estimated tax bill. The client owned the real estate upon which both […]

Filed Under: Business Taxes, Case Studies

Inflation Reduction Act of 2022

August 19, 2022 by Omar Virjee

On August 16th the President signed into law the Inflation Reduction Act of 2022. While there are a lot of moving pieces within the law below are the key points we feel will concern our clients. The law gives the IRS additional funding: $3.18 billion for taxpayer services, $4.75 billion for business systems modernization, $45.6 […]

Filed Under: Business Taxes

Employee Retention Credit for Dental Offices

June 20, 2022 by Omar Virjee

Employee Retention Credit for Dental Offices

What is the Employee Retention Credit? The ERC is a fully refundable tax credit for a potion of the qualified wages you pay employees. Dental Practices and Employee Retention Credit. Many dental offices qualified for partial ERC in 2020 due to the COVID shutdown.  Is my Dental Practice eligible? I keep hearing about the ERC […]

Filed Under: COVID-19

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