Dentists are on top of the list of most over-taxed Americans. They also top the list of those who voluntarily pay more tax than they are legally required to pay because their dental CPA is not doing the job.
In addition to being crushed by “Corporate Dentistry,” decreasing insurance reimbursements, outrageous PPO shenanigans, and a system bent upon squeezing the most dollars out of them every way possible, dentists pay more tax than what is legally due thanks to “their most trusted advisors,” the dental accountant and dental CPA.
Dentists are very aware that they pay huge amounts of money in taxes. They just don’t know what to do about this problem. When they ask their CPA, accountant, and adviser that how can they reduce their tax liabilities, they are either told that nothing can be done or are advised to buy life insurance policies which cost a lot of money and in the long run only make the insurance agents rich, producing uncertain and minimal tax benefits for dentists.