When you are self-employed, such as being in private practice and set up as a single-member LLC, you are allowed to claim a tax deduction for the health insurance premiums that you pay for yourself and your family. To qualify to claim this tax deduction you cannot be...
On July 4th, The OBBBA was signed and enacted by President Trump. A few key tax highlights included in the bill are summarized below: Effective for the 2025 tax year, the SALT deduction cap is increased to $40,000 with annual 1% increases through 2029. A...
By Pouya Andalib, Managing Partner Evox365 Is AI truly a game-changer for dentistry—or just another tech buzzword destined to fizzle out like yesterday’s trends? Many dentists are understandably skeptical. After all, not every new tool lives up to the hype, and most...
IRS Tax Tip 2025-37, June 5, 2025 Summer is a time for fun but it’s never the wrong time to be thinking about taxes – and some summer activities could have an impact. Here are a few summertime activities and tips on how taxpayers should consider them for tax season....
Making an 83(b) election when receiving founder’s stock generally makes a lot of sense. When you have the opportunity to purchase restricted stock for a start-up company at a nominal price, if you do NOT make the 83(b) election, you are taxed on the value of the...
Just a reminder that if your practice had a 401k/Profit Sharing Plan in place during 2024, you are required to file a Form 5500 by 7/31/25 (Form 5500 Corner | Internal Revenue Service (irs.gov). If you aren’t able to submit this paperwork prior to 7/31, please file...
