Dental Tax Savings Strategies

Learning Objectives:

  • Identify the causes of dentists paying more tax than they legally have to.
  • Quantify the negative effects of these tax overpayments on dental practice.
  • Explore specific strategies to get rid of tax overpayments legally.

Presentation Summary:

Jay Malik's Dental Speaker Packet PDF
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Taxes are the single largest expense for most dentists but can also be the most significant source of savings and financial improvement. However, it is estimated that over 95% of dentists overpay on their taxes due to a need for more understanding of the complex tax system. This presentation aims to provide dentists with strategies for saving money on taxes and improving their financial lives.
The audience will learn how to avoid being one of the 95% dentists who overpay their taxes, potentially saving thousands of dollars each year. They will also discover ways to reduce the costs of working with an accountant and learn about entities and expense planning that can help them legally keep more of their money. Additionally, they will explore tax-advantaged wealth management strategies that can help them retire earlier and with a higher lifetime income.

This presentation is specifically designed for dentists who own their practices and want to take control of their finances, legally reduce their tax burden, and increase their net worth. It is based on decades of experience performing accounting and tax functions for dental practices and includes specific tax-saving strategies used by many dental practices across the country. The presentation also covers key elements of financial statements and strategies for defending against an IRS audit.

Sample documents and plain language explanations are included to help doctors implement tax-saving strategies and increase operational efficiency. These strategies are legal and outlined in the tax code but are often not used by those with less expertise and experience in the dental profession.

Duration: From 1 Hour to a Half Day