In This Episode
On July 4, President Trump signed the One Big Beautiful Bill Act (OBBBA), which contained many tax changes that will affect dentists. In this episode of "The Art of Dental Finance and Management,” Eide Bailly’s Director of Dental Practices, Art Wiederman, visits with Eide Bailly Partner Don Watson to discuss the provisions of this new legislation.
Art and Don discuss topics including the Standard Deduction, new personal exemptions for seniors, the increase in the State and Local Tax (SALT) deduction, the Section 199A and State tax workaround rules, changes to the Child Tax Credit and Estate and Gift Tax exclusions, the repeal of many clean energy incentives, changes in the reporting of Form 1099 payments, and much more.
Art and Don also provide actionable advice on taking advantage of these new rules, suggesting that dentists work to legally reduce their incomes to avoid the phase-out rules included in these new laws. This episode is a must-listen for anyone who wants to cut their income tax bills for 2025 and beyond.
Show Notes & Resources
- Upcoming Eide Bailly Events
- Eide Bailly's Healthcare Services
- Decisions in Dentistry
- Academy of Dental CPAs
About the Host
Art Wiederman, CPA, Director of Dental Practices | Eide Bailly
Art specializes in serving dental practices. He oversees a variety of services including accounting, tax compliance and planning, financial planning, retirement planning, and financial practice management consulting. Art’s expertise is not only in taxation issues for dentists, but also in his knowledge of dental practice metrics and benchmarks. Art has the ability to look at a dentist’s statements and identify profit holes in their practice.
About the Guest
Don Watson, CPA, Partner | Eide Bailly
Don is a partner in the Healthcare Services department and primarily works with dental clientele. He helps with tax preparation, financial reporting, and consultation for individuals, corporations, and partnerships associated with the dental industry.
