The tables are turning in this episode of Beyond Bitewings, and the Edwards and Associates team is being asked the questions that so many practice owners want to know. They’re welcoming Prosthodontist, Dr. Giancarlo Aymerich to this episode so he can ask all the questions about how he can save more money on taxes for his practice.
They cover common questions about deducting equipment, including when you can deduct equipment, how you can use it as a tax saving, and various cost thresholds. They also cover the common questions about cars including how you can deduct your car as a business expense, and what you need to report to the IRS when it comes to a car’s expenses. Plus they talk about leasing vs. purchasing, and which one is best if you’re using your car as a business expense.
They also talk about when the right time is to switch your company to an S-Corp, and the income thresholds when you typically see the most tax savings. Plus they cover other strategies to save on your taxes when it comes to retirement accounts for yourself and your employees.
This is the perfect episode to get ready for 2023 and learn how to save more money on your practice’s taxes!
If you have specific questions about your expenses on your taxes, or if you’d like to have another question answered on a future podcast, please reach out to the Edwards & Associates team.