By the time you turn 65, you’ve probably already started enjoying some benefits reserved for senior citizens. Restaurants, exclusive living communities, entertainment venues and many other businesses start offering discounts at 55. You may have already retired from your position in the dental industry and/or started to draw Social Security. Your health care benefits will […]
Severance Pay is Taxable
When you lay off employees, severance pay is often a part of the deal. According to the United States Department of Labor, this pay is not required under any circumstances. However, many employers choose to offer severance pay in order to ease the transition into unemployment or a new job. Unfortunately, even though severance pay […]
What to Do if Your Tax Refund Check is Stolen or Lost
Whether your tax refund check was lost or stolen, swift action is the best course of action to handle the situation. The longer you wait, the more difficult it becomes for the IRS to track the check and get your money to you. These are the steps you need to take. Lost Refund Checks Lost […]
The New Form 1095-A: Reporting Health Insurance Coverage
For the first time, all taxpayers must include information about their health care coverage to the IRS on their 2014 Form 1040. Another year, another tax form or two. The year 2014 was the first tax year that the Individual Shared Responsibility Provision (SRP) of the Affordable Care Act (ACA) went into effect. That means […]
What is a 529 College Savings Plan?
Today saving for college is more critical than ever before. Tuition and fees are already at all-time highs and the cost is only looking to increase in coming years. The 529 college savings plan is one of the most effective methods for parents interested in investing for their children to go to college. The 529 […]
Tax Advantages of Donating Stock
Making donations to non-profit organizations is a great way to do good works in the community your dental practice serves. It can also be a huge tax advantage to small businesses – especially if you take advantage of one not so widely known option to double up on your tax benefits. Donating appreciated stocks allows […]