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011 - Six Reasons You Owe Six Figures in Taxes (And How to Avoid It)
Manage episode 474002097 series 3642813
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Tax season is here, and for some dentists, that means one nasty surprise: a six-figure tax bill. Yikes. In this episode of Travis, Can I Have This?, we’re breaking down why this happens and, more importantly, how to avoid it next time.
From a lack of tax planning to misunderstanding net income vs. distributions, Travis covers the top six reasons dentists end up owing big. Spoiler alert: Wishing the tax code didn’t exist doesn’t make it go away. But good news – with some proactive planning and better accounting habits, you can sidestep that panic-inducing payment notice.
You’ll learn:
- Why tax projections aren’t optional (seriously, get one).
- How depreciation can play tricks on your taxes.
- The dangers of celebrating a revenue jump without considering the tax hit.
If you’ve ever found yourself screaming at your tax bill in disbelief, this episode is for you. Tune in and make sure you’re never blindsided again.
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