Roetzel HealthLaw HotSpot® is a podcast and YouTube channel for physicians and health professionals that covers the legal issues and trends that affect the health care industry.
On the HealthLaw HotSpot this week, host Ericka Adler sits down with Roetzel attorney Donna Hartl to explore some crucial year-end tax considerations as well as trending tax issues. Donna and Ericka discuss the importance of accurately categorizing your expenses, the potential for prepaying smaller costs like insurance and property taxes, and the critical path to qualifying for the employee retention credit (ERC) before the April 2025 deadline. With impending elections influencing tax policies, Donna emphasizes the need to stay vigilant about record-keeping, especially with the IRS ramping up audits for professionals. Donna also highlights the importance of having the “five Ws” in place for audit preparedness (Who, What, Where, When and Why) when it comes to receipts for entertainment and marketing, and ensuring you’re ready for the IRS’s scrutiny of home offices, travel expenses, and 1099 requirements.
To listen, download the episode on Apple Podcasts or click here. To watch the episode on YouTube, click the link below:
Watch Year-End and Trending Tax Considerations for Health Care Practices