Dental Tax Planning Modern Practices
Many dental practice owners are now introduced to tax strategies through social media, podcasts, and online discussions. While these ideas may seem new to many business owners, they are not new concepts to experienced tax professionals. Our dental tax planning is built on a foundation of more than 2 decades of real world experience.
At Schultz & Associates, Jeff Schultz and Jason have been implementing these strategies for dental practice owners for years—long before they became popular topics online. Their experience comes from preparing thousands of tax returns, reviewing financial statements, understanding business operations, and helping real practice owners make decisions that impact their financial future.
The difference is not simply knowing a list of tax strategies. The difference is knowing when a strategy makes sense, when it does not, and how it fits into the dentist’s overall financial goals.
Every dental practice is different. A strategy that creates significant benefits for one practice owner may provide little or no value for another. In many cases, the best planning opportunity may come from implementing one carefully selected strategy rather than attempting to combine multiple ideas simply because they are popular.
Through the Schultz Dental Advantage™, our team evaluates opportunities such as:
- Cost segregation studies to determine whether accelerating depreciation may improve cash flow.
- Accelerated depreciation opportunities related to equipment purchases and qualifying improvements.
- Cash balance retirement plans for practice owners who may benefit from additional retirement savings opportunities.
- Entity structure planning, including LLCs taxed as S Corporations and reasonable compensation analysis.
- Real estate planning strategies, including evaluating ownership structures and potential opportunities related to dental practice real estate.
- Practice acquisition and transition planning to help dentists make informed decisions during significant transactions.
These IRS tax strategies have existed for decades. The value comes from understanding how they apply to a specific situation and properly implementing them within the broader financial picture of the practice.
Jeff and Jason have seen these concepts applied in real-world dental practices for many years. They understand the tax rules, but just as importantly, they understand the practical side of ownership—the cash flow needs, business goals, and long-term plans that determine whether a strategy truly makes sense.
Tax Planning From a Team That Works Together
Complex tax planning rarely happens through one isolated conversation. The best results come from a team that understands the complete picture of the practice.
Schultz & Associates is a Michigan-based CPA firm with a dedicated office in Canton. While our technology allows us to serve dental practices throughout Michigan and beyond, our team works together every day from a shared location where professionals can communicate, collaborate, and access one another’s expertise.
When a planning opportunity arises, the conversation does not happen between disconnected professionals working independently from different locations. Jason understands the practice relationship, our accounting team understands the financial information, Sami helps analyze key performance indicators, and Jeff provides additional expertise when complex tax matters require deeper planning.
The Schultz Dental Advantage™ combines specialized knowledge with genuine collaboration. Dental practice owners receive the benefit of a team that knows each other, communicates regularly, and works together to provide thoughtful recommendations.
Proactive Tax Planning Throughout the Year
Great tax planning happens before the end of the year—not after the opportunity has passed.
That is why the Schultz Dental Advantage™ includes proactive tax planning checkups throughout the year. Our team meets with dental practice owners approximately three times annually to review projected income, estimated tax obligations, business changes, and potential planning opportunities.
These meetings allow us to identify issues early, evaluate opportunities, and help prevent unexpected tax surprises. More importantly, they give dentists the information they need to make confident decisions throughout the year.