How will new tax laws affect your dental office?
While the recently negotiated American Taxpayer Relief Act of 2012 will increase taxes for many dentists, the cloud does have a silver lining for those able to take advantage of the increase in deductions for new equipment and the extension of other tax breaks. Among the most significant deductions is the increase in the maximum that can be expensed for new equipment under Section 179, according to J. Haden Werhan, a certified public accountant with Thomas Wirig Doll, an accounting and wealth management firm that works with dentists.
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