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The IRS is NOT Always Right
If you receive a notice from the IRS, do not automatically assume it is correct and submit payment to make it go away. Here are some suggestions for how to handle a letter you may receive from the IRS or other taxing authority: Stay calm. This is easier said than...
Practice Overhead
Overhead is classified as ongoing business expenses not directly attributed to creating a product or service, and there's no exception to needing to cut overhead in a dental practice setting. According to an article on Dental Economics, "The largest impacts on...
Multiple Jobs: Be Prepared for Tax Surprises
Working more than one job can help maximize income, but also potentially create a tax surprise. Here are several be aware of: Social Security Surprise: As a full-time employee, the most you'll have to pay in Social Security taxes in 2023 is $9,932. The problem is each...
Credit Score Tips
Regardless of your career choice or age, having a solid credit score will help immensely throughout your life. Here are some tips to build good credit: - pay loans on time, every time - don't get too close to your credit limit: under 30% is ideal - start building...
The Home Gain Exclusion: Make Sure You Qualify!
The home gain exclusion is one of the most generous tax breaks available to taxpayers, providing the ability to exclude up to $250,000 ($500,000 married) in capital gains on the sale of your personal residence. Here is what you need to know. Background As long as you...