The Raving Patients Podcast podcast

The Top Tax Mistakes Dentists Make That Are Costing Them Millions

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Most dentists assume that paying massive tax bills is just part of success — but that belief could be costing you millions. In this episode, Dr. Len Tau sits down with tax strategist Rachel Michaelov, Founder and CEO of Practice Wealth Partners, to uncover the most common (and costly) tax mistakes dentists make — and how proactive planning can legally reduce tax liability, sometimes all the way to zero. If you've ever written a painful check to the IRS and wondered if there's a better way, this episode is a must-listen.

 

What You'll Learn

  • Why most dental CPAs are reactive — not strategic

  • The dangers of disconnected bookkeeping, payroll, and tax prep

  • How improper entity structure and payroll decisions raise audit risk

  • Why buying equipment last-minute isn't real tax strategy

  • How quarterly tax planning can dramatically reduce liability

  • Common myths around audits, R&D credits, and tax strategies

  • What dentists should demand from their accounting professionals

 

Key Takeaways

01:55 Top Tax Mistakes Dentists Are Making

03:00 Why Dentists Overpay Even With a CPA

03:40 The Cost of Disconnected Financial Teams

04:40 Enrolled Agent vs CPA: What's the Difference?

12:10 Why Retirement Plans Alone Aren't Enough

14:40 Buying Equipment vs Strategic Tax Planning

15:58 Choosing the Right Business Entity

20:05 Cost Segregation, R&D, and Advanced Strategies

24:40 How to Challenge Your CPA (Without Fear)

28:35 Do Tax Strategies Increase Audit Risk?

32:34 The Biggest Tax Myths Dentists Believe

34:00 Lightning Round with Rachel Michaelov

 

Connect with Rachel

📞 Phone: 646-284-4705
📧 Email: [email protected]

Be sure to let Rachel know you heard her on the Raving Patients Podcast.

 

Learn proven dental marketing strategies and online reputation management techniques at DrLenTau.com.

This podcast is sponsored by Dental Intelligence. Learn more here.

This podcast is sponsored by CallRail, call tracking & lead conversion software for dentists. Find out more here.

Raving Patients Podcast is your go-to place for the latest and best dental marketing strategies that will help you skyrocket your practice. Follow us for more!

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