Fall | 2018
Documentation Matters in Real Estate Professional Exception
Can a dentist qualify as a “real estate professional” and be allowed to deduct rental real estate losses? Maybe. This article reviews a U.S. Tax Court case finding that a dentist who also operated a real estate business qualified for the real estate professional exception, based largely on his extensive documentation of the hours he’d spent. A short sidebar reviews a separate case in which an architect’s rental activity losses were upheld by the Tax Court.
Zarrinnegar v. Comm’r , No. 2017-34 (Tax Ct. Jan. 13, 2017)
Franco v. Comm’r , No. 2018-9 (Tax Ct. March 6, 2018)

Issues to Consider Before You Sell Your Dental Practice
As a dental-specific CPA, a dental practice transition specialist, and a broker, I have been involved in over one thousand dental practice sales, representing both sellers and buyers. I frequently speak to sellers about how important it is to start the process of preparing your dental practice for sale at least five years before you actually decide to pull the trigger. Unfortunately, we see many dentists who either wake up one day ready to sell or in worse situations are injured and unable to practice without pre-planning for such an event.


Consider all the tax consequences before making gifts to loved ones

Because of the high exemption under the TCJA, few Americans have to worry about facing federal gift and estate tax liability in the next several years. But no matter your current net worth, it’s still important to be tax-smart when making lifetime gifts.

The New Tax Law and How Section 199A Can Save a Dentist Thousands of Dollars

There was no tax cut on business income for small, closely held corporations, so as part of the new tax law; Congress enacted Internal Revenue Code Section 199A which is known as the 20% pass-through deduction. Keep reading…this could be a five figure tax deduction.

Firm News:
The Art of Dental Finance - PODCAST

Art Wiederman the host of "The Art of Dental Finance" has had over 35 years experience in the dental financial/ accounting world. He is eager to share his knowledge as well as provide guests who are willing to share their knowledge to help dentists meet their financial and personal goals.

Very soon you will be able to listen to "The Art of Dental Finance" via podcast.
Speaking Engagements & Seminars
HMWC's “Dental Services” division serves as a leader in the dental community through our speaking engagements to various dental societies, seminars, conferences, dental schools, study clubs and sponsorship of key events.  

Recent presentations have included:
New tax law: how does it impact dentistry? October 16, 2018 At the Hyatt Westlake Village and October 17 at the Sportsman’s Lodge in Studio City. This presentation was made to approximately a total of 125 dentists and practice administrators on the Tax Cuts and Jobs Act of 2017 and its impact on business and personal tax and financial planning. A significant portion of this presentation was the new Section 199A deduction that offers a potential 20% tax deduction. We did this event in conjunction with Henry Schein from Bank of America, and Carr Healthcare Realty.

If you are interested in asking Art, Pam or Don to speak at your organization's upcoming meeting, please contact us (714) 505-9000.
HMWC CPAs & Business Advisors | (714) 505-9000 | (714) 505-9200 F | cpas@hmwccpa.com