DWI CPD Test: Upcoming Tax Changes To Selling A Dental Practice + Pre-Budget Speculation

1. Why is it important for dentists to understand upcoming tax changes?

To adjust their financial plans and avoid surprises

To entertain their patients

To decorate their clinic

To reduce staff meetings

2. What can tax changes affect when selling a dental practice?

The clinic’s location

The color of the office walls

The amount of profit you keep after the sale

Patient satisfaction

3. What is one reason governments make tax changes?

To confuse taxpayers

To raise or balance public funds

To reduce economic growth

To encourage disorganization

4. What does “pre-budget speculation” refer to?

Changes to patient appointments

Office gossip

Dental procedure forecasting

Predictions about what the government might include in the budget

5. What is a common tax dentists face when selling a practice?

Capital Gains Tax

Income Tax on groceries

Luxury Tax

Vehicle Registration Tax