As a small business owner, saving taxes is always at the forefront of your mind. One of the most powerful tools available to S corporation owners is the Simplified Employee Pension Individual Retirement Arrangement (SEP IRA). SEP IRAs are a popular choice among S corporation owners due to their tax-deferred growth and high contribution limits. […]
Using 1031 Exchange Strategy to build Generational Wealth Using Real Estate
The IRS Code has a well kept secret that some real estate investors have used over the past decades to defer taxes and create generational wealth. This is called the Section 1031 Exchange. Section 1031 Exchange allows you to sell a piece of appreciated real estate and defer the taxes as long as invest the […]
100% Bonus Depreciation Deduction a thing of the past starting 2023
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 […]
Can Your Company Survive a Disaster?
Fire, floods, hurricanes, earthquakes. When they happen, they can destroy buildings, equipment, and hard-to-replace data, and even injure or kill employees. It can take a business weeks, sometimes months, to resume operations after a disaster. Some businesses never recover. You can’t pin down the time or day when a disaster may strike your business. However, […]
Managing Remote and Hybrid Workers
Whether or not the number of people working from office buildings returns to pre-COVID levels, one thing appears certain: Remote and hybrid work models are here to stay. Business owners and other managers who rely on individuals who are working remotely full- or part-time are refining and elevating their management skills so that they get […]
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 […]