Strategies To Lower Your 2023 Tax Burden Considerably w/ Alphonso Anderson

Ordinarily, taxes are not something that get people very excited. They’re just something that we have to do.

In this episode, Alphonso Anderson of TaxRx group joins me to talk about some interesting tax strategies that you’ve most likely either never heard of, 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 OrthoPreneurs 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 the employee retention credit which came out because of the pandemic.

These are just some of the things you could be doing to make your tax burden considerably lower in 2023.

Tune in to hear more about it.

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: alphonso@taxrxgroup.com/
🔹 TaxRx Group Website:  taxrxgroup.com
🔹 Do You Want More Profits and Lower Stress? Register for the OrthoPreneurs Summit  2023: https://opsummit2023.com/
🔹 For more information, visit: https://orthopreneurs.com/
🔹Join our FREE Facebook group here: https://www.facebook.com/groups/OrthoPreneurs