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Tag Archives: Business
Deducting Un-reimbursed Professional Expenses
According to the IRS, to be deductible, an expenditure must be both “ordinary” and “necessary” in connection with your profession. The IRS defines “ordinary” as common and accepted in a particular profession and “necessary” as helpful and appropriate for a … Continue reading
“Million Dollar Metrics” for General Dentists
Managing a practice requires that you look at “the numbers” on a regular basis. If you’re like most practicing Doctors, you probably try to glance at the production and collections figures at least monthly. Did you know that there are … Continue reading
Increase your revenue with a Bonus System
You can also watch our six minute YouTube presentation of this article here. “Are You a Doctorpreneur?” That’s generally the first question I ask to new clients who own medical and dental practices. While doctors help their patients with some aspect … Continue reading
Now’s the time for Mid-Year Projections
Now’s the time to get a Mid-Year Tax Projection to see how you’ll do on April 15 next year. If you have self-employment income, made a job change during the year, have multiple sources of income, or just want to … Continue reading
Posted in Planning, Taxes
Tagged Accounting, Andrew Schwartz, Business, Politics, Schwartz & Schwartz, schwartz & schwartz cpas, Self-employment, Tax, Tax incidence, Taxation, United States
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Disability Business Overhead Expense Insurance
By guest author Lawrence B. Keller, CLU, ChFC, CFP® As the owner of a medical or dental practice, you are the key to its success. Your patients and staff rely on you. If you become disabled, you may be unable … Continue reading
Will mortgage rate increases cool a hot housing market?
By our guest writer Bob Cahill: Of course no one really knows if the increase in mortgage rates will cool a hot housing market. The answer depends on factors that are worth watching in the coming months, especially if you’re … Continue reading
Posted in Mortgage, Planning, Taxes
Tagged Business, Fed, Federal Reserve System, Interest rate, Mortgage loan, Mortgages, Real estate economics, U.S. Housing Market
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Spring Clean Up Project #3: Your Credit Report
Currently, three companies, Equifax, Experian, and TransUnion, track everyone’s credit histories. Don’t forget that banks, lenders, retailers, landlords, and other “credit grantors” use credit reports generated by these companies to determine your creditworthiness. Why not take this opportunity to clean … Continue reading
IRS Online Tax Tools for Small Business and Self-Employed
From IRS Tax Tips News: You don’t need to be a tax expert when you’re running a business, but you may need to know the basics so your business can run smoothly. The IRS.gov Small Business and Self-Employed Tax Center … Continue reading
IRS SIMPLIES CALCULATING HOME OFFICE DEDUCTION
Check out Rev-Proc 2013-13 to learn about a simplified way that taxpayers can calculate the home office deduction starting in 2013. Here is the press release issued by the IRS: IRS Announces Simplified Option for Claiming Home Office Deduction Starting … Continue reading
Posted in Uncategorized
Tagged Business, Friday, Home Office, Internal Revenue Service, IRS, Revenue Procedures, Tax, Tax deduction
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COST OF MEDICAL DEVICES TO INCREASE JAN.1 – PT.2
In Part 1, we covered the basics of the increase to medical devices through this Excise Tax, and some basic questions on the Medical Devices Excise Tax. Today, we’ll finish with some steps you can take. Section 179 Deduction: If you … Continue reading
Schwartz and Schwartz, CPAs News 