Listen "014-Your Dental Top 5 with Amanda Hill"
Episode Synopsis
This week on Your Dental Top 5 Podcast Amanda Hill discusses the Top 5 tips that are going to help you understand and thrive with your taxes! Amanda brings Chris Sands who is a partner at Pro-Fi 20/20, CPAs to bring us the information we need to know in an easy and understandable way!
Episode Highlights
10-99
Independent Checklist for Independent Contracts
40% Rule
Side Gig
Retirement Plans
FSA/HSA
Tax Credits
Quotes
“For all dentists and hygienists it is becoming law in more and more states that you cannot be paid as a 10-99 employee”
“That control factor is a big deal… if they determine where you are going to be and who you will see, you are an employee”
“There is a 20 point checklist for independent contractors”
“We feel like the IRS rules are open to interpretation… and a lot of times what we think is right, isn’t the law”
“40% of everything you make you should always set aside of taxes”
“The biggest mistake people make is using their tax money and not setting it aside”
“If that income is large enough, you should create an entity”
“The side gig is something I recommend to everyone”
“The person who understands interest earns it, the person who doesn’t understand interest pays it”
Links
Pro-Fi 20/20, CPAs: https://profi2020.com/contact-us/?fbclid=IwAR2cb21CgnpHSnm7eylCC7xBcKKaxp28sW_HCM3BdfU2NfWLbg5LBZgjOrs
The Dental Podcast Network Channel One homepage:
http://dentalpodcastnetworkchannelone.otcpn.libsynpro.com/
The Dental Podcast Network Channel Two homepage:
https://podcasts.apple.com/us/podcast/the-dental-podcast-networks-channel-two/id1478530429
Amanda’s email:
[email protected]
Episode Highlights
10-99
Independent Checklist for Independent Contracts
40% Rule
Side Gig
Retirement Plans
FSA/HSA
Tax Credits
Quotes
“For all dentists and hygienists it is becoming law in more and more states that you cannot be paid as a 10-99 employee”
“That control factor is a big deal… if they determine where you are going to be and who you will see, you are an employee”
“There is a 20 point checklist for independent contractors”
“We feel like the IRS rules are open to interpretation… and a lot of times what we think is right, isn’t the law”
“40% of everything you make you should always set aside of taxes”
“The biggest mistake people make is using their tax money and not setting it aside”
“If that income is large enough, you should create an entity”
“The side gig is something I recommend to everyone”
“The person who understands interest earns it, the person who doesn’t understand interest pays it”
Links
Pro-Fi 20/20, CPAs: https://profi2020.com/contact-us/?fbclid=IwAR2cb21CgnpHSnm7eylCC7xBcKKaxp28sW_HCM3BdfU2NfWLbg5LBZgjOrs
The Dental Podcast Network Channel One homepage:
http://dentalpodcastnetworkchannelone.otcpn.libsynpro.com/
The Dental Podcast Network Channel Two homepage:
https://podcasts.apple.com/us/podcast/the-dental-podcast-networks-channel-two/id1478530429
Amanda’s email:
[email protected]
More episodes of the podcast The Dental Podcast Network’s Channel Two
034-Dental Assistant Talk with Megen Elliot
26/06/2020
033-Dental Assistant Talk with Megen Elliot
26/06/2020
032-Dental Assistant Talk with Megen Elliot
26/06/2020
031- Get Hired with Doug Perry
01/05/2020
018- Your Dental Top 5 with Amanda Hill
30/04/2020
031-Your Official ADHA Podcast
28/04/2020
031- Dental Assistant Talk with Megen Elliot
27/04/2020
030-Get Hired with Doug Perry
24/04/2020
017-Your Dental Top 5 with Amanda Hill
23/04/2020
030-Your Official ADHA Podcast
21/04/2020