Tax Reduction Tips for Dentists

Learn the new tax legislation, learn how to lower taxes and increase revenues at the same time.

January 10, 2018 – learn more

Join dental expert Kevin Henry in an interview with the founder and president of Only For Dentists, Bassim Michael, CPA, CVA, MS, on how to grow your revenue in 2018. We will discuss actionable tips including how to update your fees for the new year. Plus learn how the new tax laws will affect your practice. Get ready for a successful 2018!


Kevin Henry
With 16 years in the dental publishing industry, Kevin Henry is the former group editorial director for Dental Products Report and managing editor for Dental Economics. He was recently named as one of the top five influential voices in the industry.

Z-Bassim-headshotBassim Michael
Bassim Michael, CPA, CVA, MS is the founder and president of, a division of Michael & Company, CPA. Bassim and his team are dedicated to helping dentists improve their profitability and lower their taxes. For more than 20 years, Bassim has worked with hundreds of dentists throughout the United States to help them become better practice managers and leaders.

Bassim is a frequent speaker on topics such as practice management, tax planning, and exit planning. He has been quoted in many articles and publications such as the Wall Street Journal, Dow Jones Wire, and many more. He is a founding member of the Dental Accounting Association as well. For those who can’t attend our live session, a recording will be provided. To register for this event and learn more, click here.

This session will be sponsored by SIKKA, the leader in dental practice intelligence and predictive analytics. Learn more and sign up.

Tax Law Changes for 2013

Many tax rules that have been in effect since 2001 are set to expire on December 31, 2012. The expiring provisions include:

  1. Increase in the individual tax rates from a maximum rate of 35% to 39.6% and elimination of the 10% rate.
  2. Increase in the maximum preferential rate on net capital gains from 15% to 20%
  3. Qualified dividends will no longer be taxed at the capital gains rate
  4. Reduced estate and gift tax applicable exclusion and increased estate and gift tax rates
  5. Special 50% bonus depreciation is set to expire
  6. Section 179 deduction will be set at $25,000
  7. 2% employee payroll and self-employment tax reduction is set to expire

In addition, new tax provisions enacted as part of the Patient Protection and Affordable Care Act of 2010 are set to take effect on January 1, 2013. These new tax provisions include:

  1. Additional 0.9% Medicare tax on high wage earners and high self-employed earners (wages over $250,000 if MFJ
  2. Medicare contribution tax of 3.8% on investment income for individuals with adjusted gross income over $250,000 if MFJ
  3. The amount an individual can contribute to an employer-provided health flexible spending arrangement is limited to $2,500 per year
  4. Medical expense deduction threshold is increased from 7.5% to 10%

Based on conversations I had with members of congress, it does not appear that congress will take action to avoid the fiscal cliff before the end of 2012.