Trey WhittNov 13, 20212 min readBeware of Taxing Authority Spoof EmailsYesterday, a client of mine received the above email and forwarded it to me. I am glad she did, because it is a fake. In recent years,...
Trey WhittNov 8, 20212 min readSBA Targeted EIDL AdvanceMany of you are receiving emails from SBA like this one that are promoting targeted advance payments that do not need to be repaid. If...
Trey WhittOct 28, 20213 min readDental Office and Personal Tax Planning for 2021 and BeyondIn a normal tax year, our tax planning strategy would be to minimize taxes now and worry about next year’s taxes, well, next year. 2021...
Trey WhittOct 6, 20212 min readIRS Service Issues ContinueMany of us taxpayers and tax practitioners began experiencing service issues with the IRS right about the time the pandemic hit in early...
Trey WhittSep 30, 20218 min readPaying for Building Back BetterI sat in on a webinar yesterday where Karen Miller, tax professor at The University of Alabama, provided insight on the latest on...
Trey WhittSep 27, 20211 min readHRSA Announces Phase 4 of Provider Relief FundsHRSA will begin accepting applications for its latest round of Provider Relief Fund grants on September 30, 2021. Though it is unclear...
Trey WhittAug 7, 20212 min readWhat The Trump Organization legal woes can teach us about payments to employeesLast month, the New York City District Attorney’s office announced that it had indicted Allen Weisselberg, The Trump Organization’s CFO...
Trey WhittJun 2, 20211 min readBiden’s plan to eliminate the inheritance basis step-up is a big deal!I am not sure you could call this “under the radar” because it has gotten plenty of attention, but Biden’s plan to eliminate the basis...
Trey WhittApr 30, 20212 min readCurious About the New Biden Tax Plan? I’ve Got You Covered.A couple nights ago, President Biden addressed the nation and unveiled his American Families Plan. The key tax benefits are an increase...
Trey WhittApr 18, 20212 min readAre Automobiles Deductible? Maybe!As a tax advisor, I field countless questions regarding what is a deductible business expense and what is not. While some expenses are...
Trey WhittApr 18, 20212 min readCapture the Tax Benefits from Your Real Estate QuicklyNon-residential real property is deductible over 39-years, so by the time most doctors are in the financial position to consider...
Trey WhittApr 18, 20213 min readBuild Practice Value: Have Your Cake and Eat It Too!You can't have your cake and eat it too. You've heard that expression, right? Said another way, you have choices in life, and oftentimes,...
Trey WhittApr 18, 20213 min readThe Tax Distinction Between Wealth and EarningsRecently, I participated in a routine year-end tax planning conference with a client who had a very good income year. In expressing her...
Trey WhittApr 18, 20213 min readMax Out the Benefits of the QBI DeductionSince the enactment of the Tax Cuts and Jobs Acts of 2017, I have spent A LOT of time learning about and planning for the Qualified...
Trey WhittApr 18, 20213 min readChoosing An Accountant“Why should I choose you?” is a question I hear often from dentists who are contemplating a change. My typical response is that I am not...
Trey WhittApr 18, 20213 min readPerformance-Based Compensation Systems for OwnersWhen I was a partner in a larger accounting firm, our firm owners met with a consultant to discuss an overhaul of our owner compensation...
Trey WhittApr 18, 20212 min readEffective Analysis of Your Practice Financials – Think Big, Then SmallA typical profit and loss statement may contain thirty or more different expenses categories, making it easy to get lost in the minutia...
Trey WhittApr 18, 20213 min readThe Basics of Balance Sheet AnalysisThe most well-understood financial statement is the profit and loss statement. Over a stated period of time - typically, a month, a...
Trey WhittApr 18, 20212 min readFinancial BenchmarkingHow Does Your Practice Stack Up? A helpful tool to check how you are doing financially is to compare your practice to your peers. The...
Trey WhittApr 18, 20213 min readForecasting Financial Performance: Achieve Financial Results by Creating TargetsWhen it comes to the numbers side of the business, most of my dentist clients have a very low pain threshold. I get it, you have plenty...
