Tax Savings & Planning

Tax planning objectives

Nobody wants to pay any more tax than what is absolutely required. And we all want to avoid any unpleasant surprises in April when tax returns are completed. 

We invest every year in extensive tax research to make sure we are employing real tax savings methods to save our doctors significant money.  You can expect our team to always be honestcreative and proactive when applying tax savings guidance and strategies to minimize your overall tax expense.

Accordingly, HDA Accounting Group dedicates substantial company resources to achieve two primary tax planning objectives for all of our practice-owner clients:

1.  Save as much as possible on tax expense by employing creative, legal and effective tax strategies appropriate for dental practice owners.

2.  Avoid surprises with quarterly tax planning so you pay your taxes during the year and know to expect when your tax return is prepared in the spring.

These two objectives are achieved by utilizing an appropriate entity and tax classification to reduce employment taxes while simultaneously employing a wide variety of effective strategies that collectively reduce your tax liability by maximizing deductible business expense in your practice. 

Along the way, teamwork between the tax advisor (providing advice) and the taxpayer (complying with advice) are absolutely critical to manage your single largest expense.


Tax savings checklist

Ask yourself the following questions.  If you don't know the answer to these questions or if the answer is no, it is likely you may be leaving money on the table when it comes to your annual tax expense.

Does your entity structure and tax classification maximize your savings on employment taxes?

Are you taking advantage of the home office deduction to realize tax savings on a portion of your household costs that you already incur?

Is your business mileage being reimbursed from your practice, or are you deducting auto expense for a vehicle placed in service at your practice?

Have you conducted an annual board meeting for your corporation in another city, and do you plan CE attendance in cities you would like to visit?

Are you renting your home to your practice during the year to conduct company meetings at your household venue?

These are just some of the ways our tax advisors will guide you to achieve maximum tax savings.  During our onboarding process, our tax advisors will review your prior tax returns and study your overall tax situation so we may recommend a full suite of tax savings strategies to save you as much as possible.

Instructive, Easy-to-Follow Tax Planning

Our tax advisors use a variety of carefully researched, proven and effective tax savings strategies to reduce your overall tax burden at every opportunity.  Quarterly tax plans are formatted in an easy-to-follow presentation that provides clear guidance on current tax savings strategies to focus on in the present quarter, as well as any critical action items that need attention now.

We advise you on each tax plan

  • If an estimated tax payment is due, our team will overnight payment coupons directly to your office.
  • Our tax advisors will keep you abreast of any owner salary changes we believe will maximize tax savings and provide clear guidance on how to change your salary if needed.
  • You will also be advised if your tax situation is current and whether any tasks are required to implement new strategies.

Dedicated planning

Our firm limits our tax work to only those clients for whom we also provide monthly accounting services so that we may ensure we are able to provide close attention to your tax situation.

Know you are working with experts

We can save more in taxes than a general accounting firm because we focus so exclusively on one specific set of taxpayers.  Our tax strategies are creative, legal, and made for doctors.

The Dentist Money ShowTM
Tax Reducing Battle Plan - Morgan K. Hamon, CPA

Reputable tax planning and advice

As a business-owner taxpayer, it is important you understand that there is no secret rule or obscure business structure only a few people know about that will make your tax expense go away. Be aware there are unscrupulous solicitors that may seek to take advantage of this misunderstanding and promise that only they know an undiscovered formula to save you from tax. 

The Internal Revenue Code, Treasury Regulations, prior Tax Court cases and more are all public and extensively researched by reputable tax attorneys and CPAs that regularly publish sophisticated and advanced tax planning techniques and strategies - there are no secrets in the tax code.  Leading CPA firms, including HDA Accounting Group, conduct research using professional sources to obtain the most favorable tax treatment possible within the code for our clients.  

If something sounds too good to be true, or you find yourself being promised a suspicious or staggering rate of tax savings on promotional materials, you are likely experiencing a pitch designed to make a quick sale.  It takes sophisticated planning utilizing provisions in the tax code (such as the select examples described on this page) to achieve the most favorable tax treatment.  You can rely on HDA Accounting Group to provide you with proven tax strategies to manage your tax expense that will save money and stand up to audit.

To learn more about our professional team of CPA's, EA's and professional accountants, please make sure and read about us.

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Would you like to learn more?

HDA Accounting Group
6312 S Fiddlers Green Circle, Suite 300E, Greenwood Village, CO 80111
T: (303) 799-0476 F: (303) 799-3452 E: info@HDAGroupDental.com
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