Timely Tax Tips For Dental Professionals. A Conversation with Holden Sours, CPA
Release Date: 04/15/2025
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Join dental-specific CPA Holden Sours as she shares critical year-end tax planning strategies, retirement options, and financial insights for dental practices. Learn about maximizing deductions, implementing effective retirement plans, and understanding recent tax law changes that impact dental practitioners. Episode Navigation 00:00 - Introduction and welcome 00:47 - Year-end planning fundamentals 04:01 - Retirement planning strategies 10:46 - Practice fee increases and inflation 14:59 - Research and development credits 17:40 - Audit frequency and considerations...
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info_outlineJoin dental-specific CPA Holden Sours as she shares critical year-end tax planning strategies, retirement options, and financial insights for dental practices. Learn about maximizing deductions, implementing effective retirement plans, and understanding recent tax law changes that impact dental practitioners.
Episode Navigation
- 00:00 - Introduction and welcome
- 00:47 - Year-end planning fundamentals
- 04:01 - Retirement planning strategies
- 10:46 - Practice fee increases and inflation
- 14:59 - Research and development credits
- 17:40 - Audit frequency and considerations
- 27:11 - Essential year-end tax strategies
- 32:04 - Health Savings Accounts discussion
- 34:17 - Vehicle deductions and closing tips
Key Takeaways
Tax Planning Essentials
- Implement consistent business expense tracking through business accounts
- Consider pass-through entity tax opportunities for state tax deductions
- Review retirement plan options including 401(k) and cash balance plans
- Evaluate fee structures multiple times per year due to inflation
Financial Benchmarks
- Staff wages typically 30% of collections
- Supplies and lab costs around 15% of collections
- Consider dental-specific chart of accounts for better tracking
Meet Our Guest
Holden Sours: A dental-specific CPA who works with small businesses, specializing in tax strategy and financial planning for dental practices. Experienced in helping dentists optimize their tax positions and implement effective financial strategies.
Featured Discussion Topics
- Year-end tax planning strategies
- Retirement plan options
- Practice expense benchmarking
- Insurance participation considerations
- Health Savings Accounts
- Vehicle deductions
- Children employment strategies
- Audit considerations
Connect With Simplify Dentistry
- Website: simplifydds.com
- Facebook Group: Simplify Dentistry Community