ASK YOUR CPA ABOUT…..

           -claiming a tax credit for up to 35% of premiums paid for staff health insurance.  Also make certain that tax credit was claimed for 2010 and 2011 or that amended returns are filed if those credits were missed.

            -turning your practice into a Subchapter S corporation in order to reduce payroll taxes by having part of the dentist’s compensation taken as dividends rather than salary.

            -writing off up to $139,000 spent to purchase new or used equipment in 2012, provided Congress does not change this expensing amount before the end of 2012.  If current regulations remain, the expensing amount will decrease to $25,000 in 2013.