The American Dental Association expressed its support for tax policies to benefit dental professionals, according to an Oct. 16 news release.
Here are six things to know:
1. Linda Edgar, DDS, ADA president, and Raymond Cohlmia, DDS, ADA executive director penned a letter to Congress on the impact of the potential expiration of tax policies the organization previously supported.
2. The ADA pushed for the renewal of a 20% deduction for businesses organized as pass-through entities with an income below $300,000.
3. The organization also supports renewing full expensing of investments in equipment, software and property.
4. The letter also urged permanent reduction of the corporate tax rate to 21%.
5. According to the ADA, these tax policies help younger dentists and newer practices, which can help expand access to dental care.
6. The ADA also supports tax reforms to encourage dental providers to work in underserved areas through exempting loan repayments from taxable income.