Strategies To Lower Your 2023 Tax Burden Considerably w/ Alphonso Anderson

Ordinarily, taxes are not something that gets people very excited; more like orthodontics. 😊 It is something that we have to do.In this episode, I am joined by Alphonso Anderson of TaxRx group to talk about some interesting tax strategies that you’ve probably never heard about or have heard bad information about.One of these strategies is the R&D tax credits in orthodontics.If you are a member of the OrthoPreneur Facebook group, you most likely have come across this debate.Alphonso takes us through the details of this credit as it applies to orthodontists and how to prepare the documentation that supports it.We also talk about employee retention credit which came out because of the pandemic.But these are just some of the things you could be getting involved in to make your tax burden considerably lower in 2023.Tune in to hear more about this.Key Takeaways- Who is Alphonso Anderson Esq, LL.M (Tax) (00:56)- The penalty system for IRS (02:44)- The R&D tax credit for orthodontists (10:36)- Qualifying criteria for the R&D tax credit (12:11)- Tax deduction vs. tax credit (16:04)- Employee retention credit (27:09)- Develop an active tax plan for 2023 (31:00)- How to lower your 2023 tax burden considerably (32:18)Additional Resources🔹 Alphonso Anderson's email: [email protected]/🔹 TaxRx Group Website:  taxrxgroup.com-----🔹 Do You Want More Profits and Lower Stress? ... Register for the OrthoPreneurs Summit  2023: https://opsummit2023.com/🔹 For more information, visit: https://orthopreneurs.com/🔹 Join our FREE Facebook group here: https://www.facebook.com/groups/OrthoPreneur

Om Podcasten

What does it mean to become an Orthopreneur? Hi there! My name is Dr. Glenn Krieger and I believe that in today’s competitive world, the orthodontic and dental communities should be collaborative. And I've created Orthopreneurs so that we can move towards that goal together. Orthodontists are smart people. You’ve accomplished a lot to get where you are, but chances are you never got a formal education in how to run the most effective and lowest stress practice possible. Don’t sweat it! Because we’ve got your back... Being an Orthopreneur means that you’re a part of a community. A community that brings peers together to become the best clinicians and the best business owners they can be. Becoming an Orthopreneurs means you never ever need to practice alone. Join the FREE Facebook group by simply applying:https://www.facebook.com/groups/OrthoPreneurs