{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"The Top Tax Mistakes Dentists Make That Are Costing Them Millions","description":"Most dentists assume that paying massive tax bills is just part of success \u2014 but that belief could be costing you millions. In this episode, Dr. Len Tau sits down with tax strategist Rachel Michaelov, Founder and CEO of Practice Wealth Partners, to uncover the most common (and costly) tax mistakes dentists make \u2014 and how proactive planning can legally reduce tax liability, sometimes all the way to zero. If you\u2019ve ever written a painful check to the IRS and wondered if there\u2019s a better way, this episode is a must-listen. &amp;nbsp; What You\u2019ll Learn   Why most dental CPAs are reactive \u2014 not strategic   The dangers of disconnected bookkeeping, payroll, and tax prep   How improper entity structure and payroll decisions raise audit risk   Why buying equipment last-minute isn\u2019t real tax strategy   How quarterly tax planning can dramatically reduce liability   Common myths around audits, R&amp;amp;D credits, and tax strategies   What dentists should demand from their accounting professionals   &amp;nbsp; Key Takeaways 01:55 Top Tax Mistakes Dentists Are Making 03:00 Why Dentists Overpay Even With a CPA 03:40 The Cost of Disconnected Financial Teams 04:40 Enrolled Agent vs CPA: What\u2019s the Difference? 12:10 Why Retirement Plans Alone Aren\u2019t Enough 14:40 Buying Equipment vs Strategic Tax Planning 15:58 Choosing the Right Business Entity 20:05 Cost Segregation, R&amp;amp;D, and Advanced Strategies 24:40 How to Challenge Your CPA (Without Fear) 28:35 Do Tax Strategies Increase Audit Risk? 32:34 The Biggest Tax Myths Dentists Believe 34:00 Lightning Round with Rachel Michaelov &amp;nbsp; \u2014 Connect with Rachel \ud83d\udcde Phone: 646-284-4705 \ud83d\udce7 Email: rachel@empiretaxadvisors.com Be sure to let Rachel know you heard her on the Raving Patients Podcast. &amp;nbsp; \u2014 Learn proven dental marketing strategies and online reputation management techniques at DrLenTau.com. This podcast is sponsored by Dental Intelligence. Learn more here. This podcast is sponsored by CallRail, call tracking &amp;amp; lead conversion software for dentists. Find out more here. Raving Patients Podcast is your go-to place for the latest and best dental marketing strategies that will help you skyrocket your practice. Follow us for more! ","author_name":"The Raving Patients Podcast","author_url":"http:\/\/drlentau.com","html":"<iframe title=\"Libsyn Player\" style=\"border: none\" src=\"\/\/html5-player.libsyn.com\/embed\/episode\/id\/39933035\/height\/90\/theme\/custom\/thumbnail\/yes\/direction\/forward\/render-playlist\/no\/custom-color\/88AA3C\/\" height=\"90\" width=\"600\" scrolling=\"no\"  allowfullscreen webkitallowfullscreen mozallowfullscreen oallowfullscreen msallowfullscreen><\/iframe>","thumbnail_url":"https:\/\/assets.libsyn.com\/secure\/item\/39933035"}