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

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