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Tax Deductible Expenses for Dental Associates

Are you a 1099 dental associate at one or more Practices and not sure what you can deduct? We have compiled a list of common business expenses you should keep record of in order to offset your contract income. This is not an all encompassing list and we encourage you to ask us about additional expenses if you are unsure.

Common dental associate expenses to keep record of include:

  • Continuing dental education, including travel and meals
  • Dues and subscriptions – state society, study clubs, publications, etc.
  • Cellular telephone
  • Meals that occurred for a business purposes
  • Uniforms (potentially including shoes)
  • Small dental equipment and supplies
  • Licensing and other fees
  • Legal and professional services
  • Advertising expenses
  • Business insurance (not life insurance) – most commonly malpractice insurance
  • Health insurance premiums
  • Mileage between offices, to purchase supplies, to the post office, etc. – not commuting mileage (from home to office)
  • Home office expense for the area of your home used exclusively for business purposes
  • Any non-reimbursed business expenses from the host practice

Tax season is right around the corner. Don’t wait until the last minute and miss deductions, start today! To learn more about how we can support you this tax season, contact us!

Tax Deductions to Keep in Mind When Traveling for Charity

It’s almost that time again… Tax Season! We want to make sure that you are taking advantage of all the tax deductions that are available to you when you are traveling for charity. There are a few things that you want to make sure you are doing to make sure the deductions qualify. 

A few tips to remember are:
  • Make sure the Charity qualifies by the IRS standards
  • Ask the Charity about their status before you donate
  • Know what Out-of-Pocket Expenses are deductible
  • Recognize the travel expenses that are deductible and not deductible – some types of travel are NOT deductible

To see specific tips from the IRS on this topic, CLICK HERE. If you have any additional questions about tax deductions when traveling for charity, contact us today!