In dental practices, like in any business, fraud can go on undetected for a long time if the warning signs are ignored. Some of the common warning signs of fraud are: A sudden unexplained shortage in the cash account. It can lead to checks being returns, late tax payments, and supplier complaints of lack of […]
“Practice Exit Strategies” Speaking Engagement
Bassim Michael, CPA recently engaged an audience at Fresno Pacific University-North Fresno Center about exit strategies for your practice. “Is it time to sail off into the sunset? If so, what do you do with your practice? Our speakers will impart their knowledge about exit strategies and financing your practice so you receive the best outcome […]
“Federal Tax Implications of Health Care Reform” Seminar
“Federal Tax Implications of Health Care Reform” Seminar We recently attended a CE class focused on the Affordable Care Act, commonly referred to as Obamacare. A number of income tax provisions are already in effect, but there are many more that will become effective this year and beyond including the individual mandate and the employer […]
Dentist Opening New Practice Needs Bookkeeping Advice
A dentist who was about to open their first dental office approached Only for Dentists for advice. Their original plan was to do all of their monthly accounting and then hire a CPA for the annual returns. They were getting close to their opening date and their anxiety was growing, wondering if it was really […]
What Is the Marriage Penalty?
If you are recently married, you’ll have to contend with a few more issues besides your spouse’s snoring! You’ll also have to deal with new tax choices, including decisions concerning how to file your taxes and whether you will file “married filing jointly” or “married filing separately”. Combining two spousal income often equates to a […]
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. […]