Dentaltown September 2017 - 56

message board

5. Family on payroll
6. Home office
7. Cars
8. Toys (like cameras, computers, collectibles, etc.)
9. Golf
10. Sponsorships of Little League teams
11. Retirement plans
12. Artwork
13. Get creative
Now, if you want details, go hire a CPA and ask them. ■
6/22/2017

drpsuedonym
Member Since: 09/22/08
Post: 6 of 207

CE courses, travel, licensing fees, malpractice, etc., are all now tax-deductible. I have a home
office where I do most of my paperwork, so I take a home office deduction and business miles
deduction. The office also pays for my home office furniture, computers, etc. The office also
pays for my home paper towels, air freshener (miscellaneous goods), camera, iPad, etc. Just a few
things I can think of off the top of my head. ■
6/22/2017

Gormanjh
Member Since: 03/28/14
Post: 13 of 207

Tim Lott, CPA, CVA
Member Since: 11/16/05
Post: 14 of 207

Does any single practitioner out there have more than one car on his/her practice? ■
6/22/2017

I've had situations where one doc, unmarried, has used three different cars for business ... all
legit! ■

6/22/2017

Gormanjh
Member Since: 03/28/14
Post: 19 of 207

Wow! Sounds like a stretch. I get the unmarried part. Would it be safe to say that if the doc
were married and he/she tried to put two cars on the business, that this would arouse suspicion,
or could this scenario ever fly? ■
6/22/2017

Tim Lott, CPA, CVA
Member Since: 11/16/05
Post: 20 of 207

Four-wheel-drive during winter months, probably about 30-40 percent business use; convertible during nice weather months, maybe about 30-40 percent business use; Corvette driven
to study clubs and local CE, very little miles put on it, at least 75 percent business use.
Hey, sketchy or not, if it's allowed by the tax code, you're entitled. If you prefer not to take
advantage of the written word in the code and pay more tax, that's your right. ■
6/22/2017

v0g3L
Member Since: 11/24/14
Post: 21 of 207

Just because something is legal, doesn't mean it is ethical. Can't claim moral high ground
when it comes to treating patients but then do shady stuff like this. ■
6/22/2017

Tim Lott, CPA, CVA
Member Since: 11/16/05
Post: 22 of 207

Nothing unethical or shady about taking legitimate deductions. Tell me which items sound
"shady and unethical" to you? ■
6/22/2017

v0g3L
Member Since: 11/24/14
Post: 26 of 207

56

A lot of these deductions are things that the IRS would have a difficult time proving. That
is what makes them legitimate. The deductions were designed for a specific purpose; people are

SEPTEMBER 2017 // dentaltown.com


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Table of Contents for the Digital Edition of Dentaltown September 2017

Dentaltown September 2017 - Intro
Dentaltown September 2017 - Cover1
Dentaltown September 2017 - Cover2
Dentaltown September 2017 - 1
Dentaltown September 2017 - 2
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Dentaltown September 2017 - Cover3
Dentaltown September 2017 - Cover4
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