• Posted 17th November 2016

Common Expenses to be Claimed by Dentists

There will always be different kinds of expenses in whatever profession you are in. Like many other professions, dental profession also has many expenses to take care of. However, dentists are eligible to claim some expenses thereby reducing tax bill. Here is a detailed checklist of expenses which can be claimed by the dentists. Accountancy fees When you are busy running your dental practice, you will have some legal and financial issues at some point of time. This is where guidance from expert accountants is very essential. When you hire them, you should pay accountancy fees for their service. Such type of expense count as an allowable. Associate fees Sometimes when you fall sick, you can hire locum dentists for a certain time to provide service to your clients. The fees you need to pay these dentists come under an allowable business expense which you can claim for. Staff salaries Any dental practice owner will have few to many staffs working for them. They are required to pay them on a weekly or a monthly basis. These payments can be claimed by them as it is a legitimate expense which can be claimed. Telephone costs These days most dentist use mobile phones for their work. If you are a dentist and use your mobile phones for any official work, you can claim a certain part of it. So, make sure you keep you details. Computer costs In dental profession, research needs to be done regularly for which computer and internet is required. If you use computer at your home for your practice work, determine the personal use and calculate the cost for it. Courses and conference costs If you attend any courses or conference to enhance your dental profession, you can claim the costs of these courses as they are an allowable expense. If you have used your own money for this kind of activity in the past, do not forget to use it from the next time. Professional subscriptions Subscriptions can be made for anything like membership or journals that are related to your dental practice. If you have any of such subscriptions, feel free to claim it. Advertising fees Advertising can be a great way for promoting your dental practice and attracting new customers. You can invest in advertising in newspapers or in a website where the costs are treated as allowable expenses. Apart from these expenses, expenses like lab fees, cost of materials, fuel costs, repairs, stationery and finance interest can also be claimed.