Monthly Archives: February 2013

Fiscal Cliff Notes – Tax Strategies You Can Sink Your Teeth Into – March 20

Bassim Michael will be presenting “Fiscal Cliff Notes – Tax Strategies You Can Sink Your Teeth Into” on March 20th at the Santa Clara County Dental Society. Find the presentation description below. You can register for the course here.

The “Fiscal Cliff” has been one of the most talked about issues over the past several months. The term has been repeated throughout the media ad nauseum to the extent that its impact is almost lost in the conversation.

The Fiscal Cliff was intended to urge the President and Congress into action to avoid a dramatic rise in income tax rates. The American Taxpayer Relief Act, which was passed in the wake of the initial “Cliff,” includes significant changes to the tax code which all dentists should be aware of. The nation’s highest earners will see an increase in taxes, while most of the Bush era tax cuts have been made permanent.

This course will outline the major focal points of the Taxpayer Relief Act and explain how you can be proactive in your tax planning.

Presentation Overview:

  • Economic trends in dentistry – How the Taxpayer Relief Act will affect aspects of your business like retirement, fee scale, patient retention, practice transitions and more.
  • Tax increases that will affect dentists – Key tax provisions you can expect to see.
  • Tax strategies to lower your taxes – How you can reduce your tax liability throughout the year with internal approaches like record keeping habits and tax projection meetings, as well as external approaches like Federal and State tax credits.
  • Case Studies – We have compiled data demonstrating how dental clients who have been proactive in their planning save more in taxes than taxpayers who do nothing.

About the Only for Dentists:

Only for Dentists is different from most CPA firms because of years of experience focusing on accounting, bookkeeping and tax planning needs for specifically for dentists and dental practices of all sizes in California and surrounding states. This allows us to provide in-depth knowledge about the business needs particular to dentists in a manner that is unmatched by most accounting firms. We fully understand the difficulties (and the joys) of running a practice, and take deep satisfaction in helping local dental practice owners keep their finances in order, save money, and avoid mistakes. Our objective is to free up more time that can be spent focusing managing their practice instead of their books. We focus on the numbers so that you focus on patient care.

Only for Dentists’ goal is to make a dentist’s job less taxing!

About Bassim Michael, CPA, CVA, MS Tax, Principal of Only for Dentists

Bassim Michael has an expertise providing advice and services to dental professionals for over 15 years. Bassim’s background in both public and private accounting gives him a unique perspective into the financial, tax and business needs of dentists.

Bassim is licensed as a CPA in California and Nevada. He earned his Bachelor of Arts degree from Fresno Pacific University and also holds an MS in Taxation degree from Golden Gate University. Bassim has taught at Fresno Pacific University’s undergraduate and graduate Leadership program for over four years. Bassim is a member of the AICPA, California Society of CPA’s, Fresno Estate Planning Council, Institute of Dental CPAs, NACVA, and ACFE.