The Dentist’s Guide to Taxes

A full appointment book can still leave a dental practice facing a tax surprise.The Dentist’s Guide to Taxes brings year-round U.S. federal tax considerations into the everyday decisions of practice owners and self-employed dentists. It also speaks to associates preparing to buy a practice and office managers who handle tax records. The focus is on the information behind deductions, payroll, equipment purchases, and retirement contributions.Morgan Price starts with a basic distinction: production, collections, cash in the bank, and taxable income tell different stories. Through dental-practice scenarios and recordkeeping workflows, the book connects daily close reports, vendor invoices, payroll files, and equipment registers to tax questions. Conditional examples address deduction timing, cash planning, retirement-plan costs, and acquisition terms, with clear points for involving tax and legal advisers.Trace collections to a supportable receipts figure and identify discrepancies that need an accountant’s review.Keep evidence for lab fees, supplies, mixed-use costs, and equipment so deductions can be assessed on their actual facts.Examine associate classification, payroll-tax deposits, and S-corporation owner pay using records that reflect how the practice operates.Use a rolling cash forecast to consider tax payments and retirement contributions alongside payroll and other obligations.Check state ownership restrictions and purchase-price allocation issues before signing a practice acquisition agreement.Use this guide to bring clearer records and sharper questions to your next conversation with an adviser.