What dentists need to know about the recent tax reform

Tax Reform: What Dentists Need to Know

The recently-passed tax legislation is the most significant change to the tax code in over 30 years. It is essential that dentists and practice managers understand the implications of tax reform on their practices and take immediate action.

 

For most taxpayers, the sweeping changes to federal tax laws enacted by Congress at the end of 2017 will be most apparent when it comes time to report their 2018 income. Smart taxpayers, however, will make an effort to understand these changes in advance since many of the current decisions are being made based upon past tax consequences that no longer apply. Many of the rates and formulas have changed to a significant degree, meaning that old assumptions are now creating multiple traps for the unwary.

 

Now that we can no longer rely on a lot of those assumptions, it’s a good time to dive in for a closer look at the new tax laws and think about the wisest approach to plan for your financial future in 2018 and beyond.

 

Adam Shay and Caroline Montgomery of Adam Shay, CPA are partnering with Live Oak Bank to offer an exclusive webinar on tax reform for dentists. In this presentation, dentists can expect to learn:

  • What the tax law changes are and how they impact dentists and their practices
  • High-level points of action dentists should consider taking by mid-2018
  • How a CPA firm can help you develop a personal plan to navigate and optimize tax reform
  • Strategic tax planning tips that can lower future taxes

 

Webinar attendees will also have access to the 2018 Tax Reform Guide for Dentists.

 

The 2018 Tax Reform Guide for Dentists is intended to give an overview of the new tax reform law, organized to highlight the changes likely to have the most significant impacts on dentists. It will provide an overview of the key changes to the tax code that are important to understand right now.

 

If you’re a dentist or practice manager, please consider watching this free webinar! You can watch the webinar to learn more about tax reform and what it means for your dental practice here.