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Word Tax 2021 on calculator. Glasses, pen and the calculator on documents. Krystsina Yakubovich / iStock / Getty Images Plus
Podcast

Tax Law Changes for 2021: What Dentists Need to Know

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In this episode of The Art of Dental Finance and Management podcast, Art meets with Mel Schwarz, Director of Legislative Affairs in Eide Bailly’s National Tax Office. Art and Mel discuss the new tax law changes related to the enactment of the American Rescue Plan Act (ARPA) signed into law in mid-March. Mel’s reviews components of the new plan that will help dentists minimize their tax liabilities, as well as provisions that may affect 2020 tax returns.

ARPA includes:

  • Expanded child tax credits
  • Stimulus payments of $1,400 per person
  • Student loan debt forgiveness relief
  • New rules on taxation of unemployment benefits
  • Potential new tax laws coming

Reach out to Art if you have any questions regarding dental finance and management for your dental practice.

Serving dental professionals for 35 years, Art Wiederman, CPA, is director of dental practices for Eide Bailly, one of the nation’s leading CPA firms. With special expertise in dental practice metrics and benchmarks, he oversees a variety of services, including accounting, tax and financial planning, retirement planning, and financial practice management. In addition to his podcast, Wiederman lectures nationally on dental accounting and financial management. He can be reached at awiederman@eidebailly.com.


Melbert E. (Mel) Schwarz – Mel has over 35 years of experience in the world of tax legislation in Washington, D.C., including 6 years spent on the staff of the Joint Committee of Taxation. He is a past chairman of the Tax Legislation Committee of the AICPA and a former member of its Tax Executive Committee. He received his B.A. from SMU, his J.D. from the University of Michigan, and his Masters in Professional Accounting from the University of Texas.


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