Save on Your Taxes While Avoiding Big Surprises at Tax Time
No dental practice owners should pay more tax than required—or get an unpleasant surprise come tax season. That’s why HDA Accounting Group provides comprehensive tax planning and tax saving services that let you keep more of your cash.
Your Tax Savings Checklist
Ask yourself the following questions. If you don’t have the answers, or if the answer is no, you may be leaving money on the table when it comes to your annual tax expense.
Does your entity structure and tax classification maximize your savings on employment taxes?
Are you taking advantage of the home office deduction to realize tax savings on a portion of your household costs that you already incur?
Do you pay your children on the practice payroll and use the net proceeds to fund tax-deferred college savings?
Is your business mileage being reimbursed from your practice, or are you deducting auto expense for a vehicle placed in service at your practice?
Have you conducted an annual board meeting for your corporation in another city, and do you plan CE attendance in cities you would like to visit?
Are you renting your home to your practice during the year to conduct company meetings at your household venue?
Are you taking advantage of a qualified retirement plan to defer substantial income from taxation?
These are just some of the ways our tax advisors will guide you to achieve maximum tax savings. During our onboarding process, our tax advisors review your prior tax returns and study your overall tax situation and recommend a variety of tax savings strategies.
Comprehensive Tax Planning That Pays For Itself
Our tax advisors use carefully researched and effective tax savings strategies to reduce your overall tax burden. Easy-to-follow quarterly tax plan presentations provide clear guidance on current tax savings strategies, as well as any critical items that need attention now.
- If an estimated tax payment is due, our team will provide pre-formatted estimated payment vouchers.
- Our tax advisors will keep you abreast of any owner salary changes we believe will maximize tax savings and guide you on how to make those changes.
- We’ll let you know if your tax situation is current and whether any tasks are required to implement new strategies.
Learn more about HDA Accounting Group
Set up a no-obligation consultation to discuss how our firm can provide a level of insight and perspective on your dental practice that you have not experienced before.
Call Us: 303.799.0476