The thought of having to communicate with the Internal Revenue Service about something you believe is an agency error is intimidating to most people. However, you are allowed to start a dialogue with the IRS if you feel that its findings are incorrect. The tax code is massive and often difficult to decipher, and everyone […]
Tax Benefits of Health Savings Accounts
While most people are familiar with tax benefits for other types of investments, often times, they are less familiar when it comes to the tax benefits of health savings accounts. There are three such benefits that you should know about and utilize. Perhaps the largest tax benefit is that the money that goes into the […]
Electric Car Tax Credits
Besides being healthier for the environment, purchasing an electric car can be healthy for your tax return. However, there are a few requirements that go hand-in-hand with the purchase of an electric car that one needs to understand to reap the full benefit from the tax credit. Put simply, the current tax credit for purchasing […]
Should You Claim the Home Office Deduction?
Claiming the home office deduction for your practice can reduce your income tax obligation, but be sure you understand the IRS’s rules. One of the many ways the internet has changed business over the last two decades is the increasing numbers of part-time entrepreneurs. Simple do-it-yourself website design tools have made it possible for anyone […]
Bassim Michael to Present on Dental Practice Exit Strategies at Fresno-Madera Dental Society Meeting
Only for Dentists Principal, Bassim Michael, CPA, MS Tax, will present information on dental practice exit strategies and tax planning at the upcoming Fresno-Madera Dental Society General Meeting. Bassim’s presentation, “7 Ways to Exit Your Practice in Style & Save on Taxes,” will explain the difference in the various types of exit strategies that dental […]
Top 5 Estate Planning Mistakes
When done well, estate planning can save the loved ones you leave behind a great deal of money in taxes and fees. When done wrong, as we’ve learned with a few high profile cases over the years, your loved ones can find hefty taxes, fees and penalties levied against them. These are some costly mistakes […]