The Tax Relief for American Families and Workers Act of 2024, which aids dentists, dental students and dental practices, was advanced in House and Senate committees.
The $78 million bill improves tax breaks for small businesses such as dental practices. It also includes an increased limit on expensing of depreciable business assets and allows a deduction for research and experimental expenses, according to a Jan. 22 news release from the American Dental Association.
In a letter to Congress, the ADA said that the tax policies in the act will "directly support small business dental practice owners, dentists, and dental students so that we can continue to expand out oral health care services nationwide."
The act was passed by the House Ways and Means Committee and the Senate Finance Committee, the release said.