The American Dental Association provided input on its small business tax policy, including how policies impact oral health and healthcare access, according to a Feb. 6 news release from the ADA.
Here are five things to know:
1. The organization wrote a letter to the Ways and Means Committee, urging Congress to renew tax policies that "are essential to supporting small business dental practices."
2. Policies supported by the ADA include a 20% deduction for dental practices organized as pass-through entities, full expensing of investments and a corporate tax rate of 21%.
3. ADA leaders said that not renewing the policies would have a negative impact on the oral health industry, specifically for younger dentists and new dental practices.
4. The ADA also advocated for Congress to exempt loan repayment programs from taxable income.
5. The letter promoted the passage of the Oral Health Products Inclusion Act, which would allow essential oral healthcare products to be qualified medical expenses, protect student loan interest deductions and keep credit unions' tax-ememption status.