Hired Your First Employee? Your Tax Obligations

It’s a major milestone for you, but it comes with a lot of paperwork that must be done correctly. Bringing a new employee into your business is a reason to celebrate. You’ve done well enough as a sole proprietor that you can’t handle the workload by...

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What Start-up Costs can You Deduct?

Launching a new business takes hard work -- and money. Costs for market surveys, travel to line up potential distributors and suppliers, advertising, hiring employees, training, and other expenses incurred before a business is officially launched can add...

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Will Changes in Tax Law Provisions Affect You?

Last summer’s highway trust fund extension law* includes a few important federal tax provisions that affect business and individual taxpayers. Return due dates The new law accelerates the filing deadline for partnership returns by one month, effective with...

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Creating Customer Statements in QuickBooks

Invoices not being paid promptly? Customers questioning their payment history? Create statements. Let’s say you have a regular customer who used to pay on time, but he’s been hit-and-miss lately. How do you get him caught up? Or, one of your customers...

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Preparing for Retirement

Glenn DuPont, DDS offers advice to younger dentists about retirement, including the need to maximize pretax retirement contributions early, investing in a fee-for-service financial advisor and finding the right buyer for your practice. He says younger...

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Working with QuickBooks’ Vendor Records

It’s important to maintain good relationships with your vendors and suppliers. QuickBooks helps you track your interaction with them. QuickBooks never forgets. That’s one of the reasons you use it. You create a record or transaction, enter a note about a...

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Will Economic Changes Delay Retirement?

Dr. Roger P. Levin, DDS, considers whether recent changes in the U.S. economy will delay dentists’ decisions to retire. He notes that the latest Dental Economics-Levin Group Annual Practice Survey found that more than a third of general practice owners...

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Why You Need an Annual Business Review

In addition to providing for you and your family, your small business is a part of this country’s job creation engine.  Conducting an annual review of your business finances can help keep your business healthy and growing. Management No doubt you are...

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Practice Ownership is Declining Among Dentists

New research indicates private practice ownership for dentists is steadily declining among all age groups - and is especially falling among younger dentists. The demographic with the biggest decline in practice ownership was dentists age 35 and under: 44%...

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Maximizing Value When Selling a Practice

Dentistry iQ details a number of strategies and money-saving insights to help maximize the value of a dental practice upon sale, underscoring the importance of recognizing that a practice is not taxed as one entity but contains several different kinds of...

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Financing an Office Expansion

Lindsay Harkey takes a look at how to know whether it's time for office expansion - and if it is, how to go about it. She advises the following key partners should be employed when going about securing expansion financing: a lender who has programs...

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