Why a Market Downturn Could Be the Perfect Time for a Roth IRA ConversionWhen the stock market takes a dip, most investors feel the sting of watching their portfolio balances decline. But for savvy planners, a market downturn can open the door to a smart tax strategy: converting a traditional IRA to a Roth IRA. Here’s why making this move when the market is down can pay off […]
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Stock Valuations are Back in FocusThe stock market has been experiencing a notable rotation from growth to value stocks, which has recently gained momentum. The rotation is characterized by investors moving away from high-flying, richly valued growth stocks, particularly in the technology sector, which has dominated market performance in recent years, toward undervalued/stable value stocks. This rotation has been significant, […]
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IRS Workforce Reduction and Its Impact on Audit RiskBy Maya Kosa: Tax Director PracticeCFO As part of the federal government's effort to reduce its workforce, the IRS is letting go of 6,000 employees from its current staff of 100,000. Many of these employees were recently hired to focus on audits. Despite this downsizing, the likelihood of a face-to-face field audit has been—and will […]
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Watch Out for Crypto Scams!At PracticeCFO, we’ve seen a growing interest from our clients in cryptocurrencies over the past few years. With the new Trump administration’s pro-crypto stance, we see no slowdown in the proliferation of crypto coins. And with that proliferation comes a sharp rise in the types and frequency of crypto scams. The lure of high returns […]
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Why You Should Review Your Monthly CFO Analysis ReportAt PracticeCFO, we dedicate significant time and expertise to creating customized financial reports tailored to your dental practice. These reports are designed to provide deep insights into your practice’s financial health, helping you make informed business decisions each month. Our two primary reports are: One of the most valuable sections of the CFO Analysis report […]
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Why PracticeCFO is Moving More Clients from Schwab to Vanguard’s 401(k) PlanAt PracticeCFO, we’re always looking for ways to improve retirement benefits for our clients while ensuring compliance with complex ERISA laws. That’s why we’re transitioning more clients from Schwab’s pooled 401(k) option to Vanguard’s participant-directed plan—a move that benefits both practice owners and their employees. Why Vanguard? What This Means for Your Practice By moving […]
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Why Dental Practice Owners Should Use Rippling’s Time & Attendance ModuleAs a dental practice owner, you know that managing your team’s payroll and compliance can be a challenge—especially when your practice management software, like Dentrix or Eaglesoft, doesn’t enforce state and local labor laws. This leaves your practice vulnerable to payroll errors, compliance risks, and potential penalties. That’s where Rippling’s built-in Time & Attendance module […]
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The Future of Dental Staffing: Key Trends Shaping the IndustryThe dental industry is undergoing a significant transformation, and staffing trends are at the forefront of this shift. As practices adapt to technological advancements, changing workforce preferences, and evolving business models, staying informed about these trends is crucial for maintaining a thriving practice. At PracticeCFO, we understand the financial and operational challenges that come with […]
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Why Dentists Get Limited Benefit from the R&D Tax Credit Under the New Amortization RulesThe Research and Development (R&D) tax credit has long been a valuable incentive for businesses investing in innovation. However, recent changes to tax law have significantly reduced its benefit for most dental practices. Specifically, under the new amortization rules introduced by the Tax Cuts and Jobs Act (TCJA) of 2017 (effective in 2022), expenses eligible […]
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Avoiding the Section 179 Tax Trap: Why Timing Matters for DoctorsAt PracticeCFO, we specialize in helping doctors maximize their financial efficiency while avoiding costly tax mistakes. One of the most powerful tax-saving tools available is the Section 179 deduction, which allows for the immediate expensing of qualifying business equipment like dental chairs, imaging machines, and office technology. However, while this deduction can be incredibly beneficial, […]
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