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The article presents a calendar for tax filling in 2018. Topics discussed include file federal income tax return (Form 1040) in April 2018; file Form 941 to pay the balance of your first-quarter 2018 contribution to Social Security in May 2018; and deposit taxes due for June (Form 8109) via electronic fund transfers using the Electronic Federal Tax Payment System (EFTPS).

The article presents a comprehensive 2015 tax calendar to help dental practitioners file tax deposits, payroll taxes, and estimated payments to avoid penalties. Highlights include deadline for filing of first quarterly estimated payment to cover 2015 federal income tax and self-employment tax liabilities, the second installment of 2015 federal tax for unincorporated doctors, and settlement of payments using electronic fund transfers through the Electronic Federal Tax Payment System.

The article presents 2017 tax calendar that can be used to determine date for file tax deposits, payroll taxes, and estimated payments in a timely manner, and to avoid costly penalties in the U.S. such last date for final quarterly installment of one's 2016 estimated individual income tax.

A chart is presented depicting the 2016 tax calendar in the U.S. offering information about tax deposits, payroll taxes, and estimated payments.

The article offers information on the doctor's business rental income and personal residence which is under the IRC 280A(g) also known as the 14-day rent rule. Topics mention including the tax treatment for rentals, considering the dwelling unit as personal residence and importance of identifying the reasonable value for the specific usage of the home.

The article discusses the significance of considering assets while preparing estate planning documents. Topics include viability of estate planning, consideration of investments, real estate, and the elimination of debts, and contacting local estate planning attorney or financial advisor in such situations.

The article provides several steps to create a budget. It includes recommendations of use a combination of your personal checkbook and end-of-the-year credit card statements for personal credit cards to identify personal spending; organize expenses by category; and cancel services in which you are no longer interested.

The article offers information on business overhead and business interruption insurance. Topics discussed include information on business interruption coverage that protects a doctor in the event of a hazard such as a fire; information on business overhead which is coverage on a doctorowner or a key person in the practice; and need to seek in-depth advice about your specific situation before adding or eliminating coverage.

The article discusses the importance of a letter of last instruction that is a supplemental letter to provide information to a doctor's survivors concerning personal, business, and financial matters. The letter outlines individuals who should be contacted upon the death of the doctor, as well as information to begin funeral plans, family finance details, and updated schedules of passwords. Also mentioned in the letter is tangible personal property memorandums and business related matters.

The article offers information on the importance of knowing the beneficiaries by avoiding certain scenarios. Topics discussed include understanding the retirement plans and life insurance policies; beneficiary designations who receive property from the accounts; and failure of the doctors to change the will and trust after the divorce. It also mention about the accidental disinheritance.

The article focuses on cash balance plans that can be tool to help dentists reach retirement goals and mentions that volatility in equity market have caused panic with shortfall of defined benefit plans. Topics discussed include cash flow to fund contributions at the required level with interest crediting rate (ICR), investments retied on growth such as stocks and consideration of cash flow for the company.

The article outlines what will or will not work about tax-planning tactics. It mentions Section 199A added by the U.S. Congress which provides an extra tax deduction equal to 20% of profits from sole proprietors, subchapter S corporations, and partnerships. It cites ways how taxable income thresholds can create opportunities for dentists to force it to threshold levels.

The article discusses the importance of the living will and power of attorney documents. Topics include management of medical care, the legal procedures involved, and the way to manage the last moments of life. Also included are details on the power over decision given to an individual in case of terminal illness and to protect its family.

The article discusses the importance of tracking the statistics related to the treatment conversion rates in terms of dollars by dental practices so as to identify the treatments lagging and its affordability by the patients. It highlights the communication goals of doctors when interacting with patients and its effectiveness.

The article focuses on how doctors can contribute to a Roth individual retirement account (IRA). It discusses the taxation challenges for Roth IRA accounts during a conversion without rolling it into 401(k) retirement plan, how tax-free conversions can be achieved through monitoring record of nondeductible IRA contributions needed by tax laws.

The article discusses the implementation of several strategies by doctors to reduce their taxable income. Topics discussed include benefits of implementing a cash balance plan, establishing a dental management company (DMO), and reassigning the income-producing investments rather than personal investments.

The article lists top 10 tax changes dentists must know under the new code which includes reduction of corporate tax rate from 35% to 21% for C corporations, increase in the maximum amount of business assets that will qualify for immediate expensing under Section 179, and tax credit of up to 25% of wages paid to qualifying employees.

The article offers information on the effects of changes in the tax code on dental practices in the U.S. Topics discussed include government policy for tax deductions for interest on home equity lines of credit, charitable contribution deductions, retaining of the Alternative Minimum Tax, a reduction in doctor's itemized deductions, and an increase in child tax credit.

A list of strategies on health savings accounts (HSAs) maximization is presented including making of catch-up contribution by doctors, making of HSA contribution for children, and investments in HSA proceeds.

The article discusses a list of ten items that dentists cannot afford to miss on their income tax returns in order to avail of various essential deduction credits entitled to doctors. According to the author, these deductions include contributions to Health Savings Account (HSA), child care expenses and medical insurance premiums.

The article presents strategies on how doctors can protect their children's inheritance without considering a prenuptial or premarital agreement. Strategies include establishing a family limited partnership (FLP) to control access to family money, increasing the required ages of children who will gain access to a portion of the trust property, and considering an arrangement in favor of grandchildren.

The article discusses how to save taxes with year-end contributions. It suggests that doctors should consider gifting their highly valued stocks to their favorite charities in place of writing a check. It adds that charitable contributions of after-tax cash can be a loss of deduction, as the total itemized deductions, including the gifted amounts, fail to exceed the standard deduction.

The article offers information on strategies for saving big on last-minute educational funding. It mentions that doctor is required to take out student loans for a child, interest rates on those loans are typically very high. It states that doctors can use these tax-free proceeds to meet educational and other personal living expenses.

The article offers information on use of Qualified Small Employer Health Reimbursement Arrangements (QSEHRAs) to reimburse employees for their out-of-pocket medical expenses like health insurance premiums. Topics discussed include medical expense reimbursement plans has been subjected to Affordable Care Act provisions; unused health reimbursement account balances could be used by the employee; and employee should provide information about health insurance exchange premium assistance tax credit.

The article presents tips and suggestions for the physicians regarding protection of their asset. Adoption of the insurance policy by the doctors, choosing of protected retirement plans, and how to obtain share of an individual in partnership with a creditor in a limited liability company (LLC) is also discussed.

The article elaborates on high deductible health plans (HDHPs) in the U.S. Topics discussed include key differences between an HDHP and traditional health insurance as well as HDHP being the main requirement to fund tax-deductible contributions to a health savings account (HSA). Also mentioned are HDHPs featuring lower premiums and allowing doctors to fund tax-deductible contributions into an HSA.

The article offers tips to U.S. dentists on turning their office building limited liability company (LLC) into a family LLC to help reduce estate and income taxes. A dentist can give a portion of ownership interests in the office building LLC to his or her children in order to shift the income to their tax returns. The LLC may also be used to engage in new business ventures.