You advise your patients that preventative care is the key to long-term oral health. The same principle applies to the financial health of your practice. A proactive, year-round approach to your finances prevents the stress and pain of a surprise tax bill. A core part of this financial hygiene is knowing exactly what you can write off. Instead of scrambling to find receipts in April, a solid understanding of the tax deductions for dental practices allows you to make strategic spending decisions throughout the year. This guide is your preventative plan. We’ll cover the full range of deductible expenses, helping you build a strong financial foundation so you can focus on what you do best: caring for your patients.
Key Takeaways
- Look Beyond Clinical Expenses: Your practice’s deductions go far beyond supplies and lab fees to include office rent, marketing, software subscriptions, and even the professional development courses you provide for your team.
- Meticulous Records are Non-Negotiable: An expense without proof is just a number, not a deduction. Implement a consistent system for organizing every receipt and invoice to ensure your claims are audit-proof and you never leave money on the table.
- Make Tax Strategy a Year-Round Habit: Don’t wait until tax season to think about savings. Proactively time major equipment purchases to maximize write-offs and schedule regular financial reviews to make informed decisions that lower your overall tax burden.
What Can Your Dental Practice Write Off?
When you run a dental practice, it feels like there are expenses around every corner—from cotton rolls to payroll. The good news is that many of these costs can lower your taxable income. The key is knowing what qualifies as a business expense and keeping immaculate records to back it all up. Think of every receipt and invoice as a piece of your financial puzzle. When you put them together correctly, you get a clearer picture of your practice’s health and can ensure you’re not paying a dollar more in taxes than you need to. Let’s break down some of the most important categories of deductions for your practice.
Everyday Deductions You Shouldn’t Miss
First, let’s cover the basics. Many of your daily operational costs are deductible. This includes the obvious expenses like dental supplies, lab fees, and office rent. But it also covers utilities, malpractice insurance, and employee payroll. To claim these deductions confidently, you need to keep detailed records of every single expense. This isn’t just about holding onto receipts; it’s about having organized documentation that substantiates every claim you make. Solid business accounting practices are your best defense against scrutiny and the foundation of a sound tax strategy. Without proof, a legitimate expense is just a number with no story.
Drawing the Line: Business vs. Personal
One of the most critical rules in business taxes is keeping your business and personal finances separate. The IRS is very clear on this point. You can only deduct expenses that are directly related to running your dental practice. For example, if you use your personal car to run business errands, you can deduct the business-related mileage, but not your daily commute or weekend trips. Mixing personal and business expenses is a common mistake that can trigger an audit. To stay compliant, always use a business bank account and credit card for practice-related purchases. This simple habit makes bookkeeping easier and provides a clear paper trail if you ever need audit representation.
Know Your Limits: AGI and Other Rules
You may have heard about a rule that limits medical and dental expense deductions to the amount that exceeds 7.5% of your Adjusted Gross Income (AGI). It’s important to know that this rule applies to individuals claiming personal medical expenses on their tax returns, not to the business expenses of your dental practice. For your practice, the guiding principle is that an expense must be both “ordinary and necessary” to be deductible. “Ordinary” means it’s a common and accepted expense in the dental industry, while “necessary” means it’s helpful and appropriate for your business. This standard gives you flexibility, but it also requires careful judgment, which is where professional business tax planning becomes invaluable.
Deducting Your Equipment and Tech
Your dental practice runs on specialized equipment and technology. From the chair your patient sits in to the software that manages your appointments, these are major investments. The good news is that the IRS recognizes these as necessary costs of doing business, which means they can lead to significant tax deductions. Understanding how to properly write off these expenses is crucial for managing your practice’s finances effectively. It’s not just about what you can deduct, but also how and when you deduct it. Getting this right can free up cash flow and lower your overall tax burden, allowing you to reinvest in your practice, your team, and your own financial goals. Let’s break down how you can make the most of your equipment and tech deductions, from everyday tools to powerful tax codes like Section 179.
Your Chairs, Tools, and Supplies
Every piece of equipment in your practice, big or small, is a potential tax deduction. Dental practices can write off a wide range of items, but to take full advantage, you need to keep detailed records of every expense. This includes the cost of major purchases like dental chairs, X-ray machines, intraoral scanners, and sterilization units. Don’t forget the smaller items, either—handpieces, curing lights, and even basic supplies add up. The key is meticulous tracking. Proper business accounting and management ensures you have a clear paper trail for every purchase, making tax time smoother and maximizing your rightful deductions.
Writing Off Your Practice Management Software
The software that keeps your office running is just as deductible as your physical equipment. This includes your practice management system, billing software, patient communication platforms, and even digital imaging software. To claim these deductions, you need to ensure all your documentation is organized and readily available. This means keeping all receipts, invoices, and subscription agreements that support your software expenses. If you pay for implementation, training, or ongoing support for your software, those costs are typically deductible as well. We can even help with accounting software implementation and support to get your systems in order.
Use Section 179 and Bonus Depreciation to Your Advantage
This is where your equipment deductions get really powerful. Section 179 of the tax code is a game-changer for many practices. It allows businesses to deduct the full purchase price of qualifying new or used equipment and software in the year it was placed in service. This means that if you buy a new X-ray machine, you may be able to deduct the entire cost from your gross income right away, rather than depreciating it over several years. Bonus depreciation is another accelerated depreciation method that can be used for even greater first-year deductions. Leveraging these provisions is a core part of smart business tax planning.
When to Buy: Timing Your Purchases for Maximum Savings
Strategic timing can make a huge difference in your tax bill. Because of provisions like Section 179 and bonus depreciation, the timing of your major purchases can significantly impact your tax savings. For example, if you’re having a profitable year and are considering buying a new piece of equipment, purchasing it before December 31st could create a substantial deduction that lowers your taxable income for that year. By planning your investments and aligning them with your financial picture, you can turn a necessary expense into a strategic tax move. Always consider your year-end financial standing before making significant capital expenditures.
Don’t Forget These Office and Admin Deductions
Beyond the dental chairs and X-ray machines, a whole host of administrative expenses keeps your practice running. These are the costs humming in the background—the rent, the Wi-Fi, the insurance that lets you sleep at night. It’s easy to focus on the big-ticket clinical items, but overlooking these office and admin costs is like leaving money on the table. Every dollar you spend on these necessary expenses can potentially reduce your taxable income, and it all adds up.
Think of these as the foundational costs of your business. From the fee you pay your accountant to the cost of your latest patient-attraction campaign, these are all legitimate business expenses. The key is to track them meticulously. A strong business tax planning strategy depends on capturing every eligible deduction, not just the most obvious ones. Keeping organized records for these administrative costs ensures you can confidently claim what you’re owed and have the documentation to back it up if questions ever arise.
Your Office Space: Rent and Utilities
Your physical office is likely one of your biggest monthly expenses, and thankfully, it’s also one of your most significant deductions. The rent you pay for your practice’s location is fully deductible. But don’t stop there. All the utilities that make the space functional are also deductible. This includes electricity, water, gas, trash disposal, and even your internet and phone bills. To make tax time easier, ensure all documentation is organized and readily available. This means keeping a clear record of lease agreements, monthly rent receipts, and all your utility invoices.
Claiming Your Insurance Premiums
Running a dental practice requires several layers of protection, and the premiums you pay for business insurance are considered a cost of doing business. This includes essential policies like malpractice insurance, general liability, property insurance for your office and equipment, and workers’ compensation. To take full advantage of these deductions, you need to keep detailed records of every premium payment. A simple spreadsheet or folder with your policy documents and payment confirmations will do the trick, ensuring you don’t miss out on these valuable write-offs.
Deducting Fees for Lawyers and Accountants
You hire professionals to help you run your business effectively, and the fees you pay them are deductible. This includes the cost of legal services for things like lease reviews or creating contracts, as well as fees for professional business accounting and management. Whether you’re paying for bookkeeping, payroll services, or tax preparation, these costs are necessary for maintaining compliance and financial health. Don’t forget to include these expenses in your records, as they are a standard and important business deduction.
Writing Off Your Marketing and Advertising
How do you attract new patients and keep your schedule full? Through marketing and advertising. The money you spend to promote your practice is fully deductible. This covers a wide range of activities, from the cost of designing and hosting your website to running Google or social media ads. It also includes printing flyers or brochures, sponsoring local events, or hiring a marketing agency to manage your campaigns. These expenses are essential for growing your practice, and the IRS recognizes them as a necessary cost of doing business.
Investing in Your Team (and Yourself)
Your dental practice is only as strong as the people in it—and that includes you. Investing in your team’s well-being and your own professional growth isn’t just a nice thing to do; it’s a fundamental part of building a successful, modern practice. The great news is that many of these investments are also tax-deductible. When you spend money to create a skilled, happy, and motivated team, you’re not just improving patient care and office morale. You’re also making a smart financial move that can significantly lower your taxable income. From salaries and benefits to continuing education and professional memberships, these expenses are considered the cost of doing business.
The key is to understand what qualifies and to keep meticulous records. Too many practice owners miss out on these deductions simply because they aren’t aware of them or don’t track them properly. It’s easy to overlook the cost of a weekend seminar or forget to track membership dues, but these small amounts add up. By treating these investments as a core part of your financial strategy, you can make a real difference in your tax liability. Let’s break down the key areas where you can invest in your people and get a well-deserved tax break in the process. Think of it as a win-win: you build a better practice from the inside out while optimizing your business tax planning for the year.
Employee Pay and Benefits
The compensation you provide to your team is one of your largest and most important expenses—and it’s fully deductible. This includes not just regular salaries and hourly wages but also bonuses, commissions, and paid time off. Beyond payroll, the benefits you offer are also deductible. This covers costs like your contributions to employee health insurance plans, retirement funds like a 401(k), and other fringe benefits that make your practice a great place to work. To claim these deductions confidently, you need to keep detailed and accurate records of every expense related to your payroll. Having a solid system for your business accounting and management ensures you can easily substantiate these costs if the IRS ever comes knocking.
Deducting Continuing Education Costs
The dental field is always evolving, and staying current is essential for providing the best patient care. Fortunately, the costs associated with continuing education for you and your staff are considered a deductible business expense. This includes tuition for courses, registration fees for conferences and seminars, and other related costs like books and supplies. Whether you’re learning a new clinical technique or your office manager is taking a course on practice management, these expenses qualify as long as the education maintains or improves the skills required for the job. It’s a powerful way to invest in your practice’s expertise while reducing your tax burden. Just remember to keep receipts and documentation for every course and event.
Professional Licenses and Memberships
Maintaining your professional standing comes with its own set of costs, and these are deductible. You can write off the fees you pay to keep your state dental license active, as well as any specialty certifications. This also applies to your staff, such as hygienists who need to maintain their licenses. Additionally, your membership dues for professional organizations are deductible. This includes national groups like the American Dental Association (ADA) and local or state-level dental societies. Subscriptions to industry journals and publications that help you stay informed also fall into this category. These are ordinary and necessary expenses for running your practice, so be sure to track them throughout the year.
Team Training and Development
Investing in your team’s growth beyond mandatory continuing education is not only great for morale but also a smart tax move. The costs for training that helps your team perform their jobs better are deductible. This can include a wide range of activities, from a weekend workshop on improving patient communication to hiring a consultant to train your staff on new practice management software. When your team feels supported and has opportunities to grow, they’re more engaged and effective, which directly impacts your bottom line. Deducting these training expenses makes the investment even more valuable. It’s a clear example of how spending strategically on your team’s development can provide returns in both practice growth and tax savings.
Special Deductions for Self-Employed Dentists
When you’re running your own dental practice, you’re not just a dentist—you’re a business owner. This dual role comes with its own set of tax rules and, more importantly, its own set of valuable deductions. Unlike dentists who are employees, you have the opportunity to write off a wider range of expenses that are directly tied to running your business. From the space in your home where you manage patient files to the miles you drive to pick up supplies, these deductions can significantly lower your taxable income. Let’s look at some of the most important tax breaks available specifically to self-employed dentists.
The Home Office Deduction
If you use a portion of your home exclusively for managing your dental practice, you may be able to claim the home office deduction. This is perfect for handling administrative tasks like billing, scheduling, or treatment planning. To qualify, the space must be used regularly and exclusively for business. You can calculate the deduction using either the simplified method (a standard rate per square foot) or the actual expense method, which includes a portion of your rent, utilities, and insurance. Whichever method you choose, ensure all your documentation for deductions is organized and readily available. This includes receipts and any supporting documents for your home office expenses, as this deduction requires careful record-keeping to stand up to scrutiny.
Writing Off Health Insurance
As a self-employed professional, you can typically deduct the premiums you pay for medical, dental, and long-term care insurance for yourself, your spouse, and your dependents. This is a valuable write-off because it’s an “above-the-line” deduction, meaning you don’t need to itemize to claim it. The main rule is that you cannot be eligible to participate in a health plan sponsored by an employer—including your spouse’s. To take full advantage of this, you need to keep detailed records of every premium payment. Properly tracking these costs is a key part of preparing your individual income tax return and ensuring you get the full deduction you deserve.
Saving for Retirement, Saving on Taxes
Planning for retirement is a smart financial move, and for the self-employed, it comes with a great tax benefit. Contributions to certain retirement accounts, like a SEP IRA or a Solo 401(k), are generally tax-deductible. This means you can build your nest egg while reducing your current taxable income—a true win-win. Besides the typical tax deductions for dental supplies and lab fees, these retirement contributions can make a huge difference in your overall tax liability. Integrating retirement savings into your financial strategy is a core component of smart business tax planning that pays off both now and in the future.
Car and Travel Expenses
Do you drive to different practice locations, attend professional conferences, or visit dental supply companies? These trips count as business travel, and the associated costs are deductible. You can deduct vehicle expenses using either the standard mileage rate set by the IRS or by tracking your actual costs, including gas, oil, repairs, and insurance. Commuting from your home to your primary office location doesn’t count, but all other business-related driving does. It’s essential to keep detailed records of every travel expense, including a mileage log for your car. Meticulous tracking is the only way to substantiate these claims and make them a valuable part of your deduction strategy.
How to Keep Your Records Straight
Taking advantage of every available tax deduction is fantastic, but it all hinges on one thing: good record-keeping. I know what you’re thinking—you’re busy running a practice, not being a bookkeeper. But without a clear paper trail, you can’t prove your expenses, and unclaimed deductions are just money left on the table. Think of solid records as the foundation of your entire tax strategy. It’s what allows you to confidently claim what you’re owed and gives you peace of mind.
The good news is that you don’t need a complicated system. You just need a consistent one. Getting your documents in order will make tax season smoother, help you monitor the financial health of your practice year-round, and ensure you’re prepared if the IRS ever comes knocking. Strong business accounting and management isn’t just about compliance; it’s about making smarter financial decisions for your practice’s future. Let’s break down how to create a simple, effective system that works for you.
What Records to Keep
To take full advantage of your tax deductions, you need to keep detailed records of every single expense. This means holding onto all the receipts, invoices, and documentation that support the deductions you claim. If you can’t prove an expense, you can’t deduct it—it’s that simple. Make sure you’re saving everything related to your practice’s income and expenses. This includes bank and credit card statements, patient billing records, payroll documentation, receipts for supplies and equipment, and records of rent and utility payments. Having this information organized and accessible is the first step toward a stress-free tax season and a financially sound practice.
Using Digital Tools for Easy Record-Keeping
Gone are the days of keeping shoeboxes full of faded receipts. Digital tools can completely streamline how you manage your practice’s finances. Using accounting software like QuickBooks or Xero allows you to connect your bank accounts, automatically categorize transactions, and generate financial reports with a few clicks. You can also use receipt-scanning apps to create digital copies of paper documents on the go. Ensuring all your documentation is organized and readily available in a digital format makes it much easier to store and retrieve what you need, when you need it. If you’re not sure where to start, getting professional help with accounting software implementation and support can set you up for success from day one.
A Simple System for Organizing Receipts
Whether you go digital, stick with paper, or use a hybrid approach, the key is to have a straightforward system for organizing your documents. You can categorize them by the type of expense (e.g., “Dental Supplies,” “Marketing,” “Utilities”) or organize them chronologically by month. For digital files, create a clear folder structure on your computer or cloud storage. For paper records, use labeled folders in a filing cabinet. The best system is the one you’ll actually stick with. This simple habit will help you track your spending throughout the year and make it much easier to report your deductions accurately when it’s time to file your taxes.
How Long to Keep Your Documents
A common question I get is, “How long do I need to keep all this paperwork?” The general rule of thumb is to retain tax records, financial statements, and other essential documents for a minimum of three to seven years. The IRS typically has three years to audit a tax return if they suspect an error, but that window can extend to six years or longer in some cases. To be safe, I recommend holding onto your records for at least seven years. This ensures you are fully prepared in the unlikely event you need tax notice and audit representation. Having your documents in order provides peace of mind and is a critical part of responsible financial management.
Plan Ahead: Smart Tax Strategies
A solid tax strategy is more than just a scramble to find receipts in April. It’s a year-round effort that can save your dental practice a significant amount of money and stress. Thinking ahead allows you to make intentional financial decisions that position your practice for success. Instead of just reacting to your tax bill, you can actively shape it. This means looking at the big picture—your income, expenses, investments, and long-term goals—and making moves that align with your financial plan.
Effective business tax planning involves understanding how different choices impact your bottom line. For example, deciding when to purchase a new piece of equipment or how to structure employee benefits can have major tax implications. By planning these moves in advance, you can take full advantage of the deductions and credits available to you. It’s about being proactive, not reactive. A forward-thinking approach turns tax season from a dreaded deadline into a predictable part of your business cycle, giving you more control over your cash flow and more confidence in your financial decisions.
Time Your Expenses and Income
One of the most effective tax strategies is managing the timing of your income and expenses. If you expect to be in a higher tax bracket this year than next, you might want to accelerate some of your expenses. For example, you could prepay for some recurring services or stock up on dental supplies before December 31 to increase your deductions for the current year. On the flip side, if it makes sense for your practice, you could defer some income into the next year. This simple act of shifting transactions between calendar years can have a real impact on how much you owe, letting you keep more of your hard-earned money.
Your Year-End Tax Checklist
As the year comes to a close, it’s the perfect time to run through a quick financial checklist. Dental practices are eligible for a wide range of tax deductions, but to take full advantage of them, you need to keep detailed records of every expense. Before you close the books, make sure you’ve accounted for all your costs, from major equipment purchases to office supplies. Ensure all documentation for deductions is organized and readily available. This includes receipts, invoices, and any other supporting documents for your expenses. Having a clear system for your business accounting makes this process much smoother and prepares you for a stress-free tax filing.
When to Call a Tax Pro
You’re an expert in dentistry, not tax law—and that’s okay. While you can handle many day-to-day financial tasks, there are times when professional insight is essential. Besides the typical tax deductions like dental supplies, lab fees, and employee payroll, there may be other deductions that require a deeper understanding of tax codes. A tax professional can identify savings opportunities you might have missed and ensure you’re compliant with all regulations. If you’re facing a major financial decision, planning for expansion, or simply want to be sure you’re not overpaying, it’s time to call in an expert. They can also provide audit representation if the IRS ever comes knocking.
Avoid These Common Deduction Mistakes
Knowing what you can deduct is only half the battle. The other half is claiming those deductions correctly and confidently. It’s easy to make simple mistakes that can cost you money or, worse, attract unwanted attention from the IRS. From disorganized paperwork to overlooking valuable write-offs, these common slip-ups can turn tax season into a major headache. But with a little bit of foresight and a solid system, you can sidestep these issues entirely.
Think of it this way: every dollar you rightfully deduct is a dollar that stays in your practice, ready to be reinvested in new equipment, your team, or your own growth. Taking the time to get your deductions right isn’t just about compliance; it’s a fundamental part of smart financial management. It’s about building a financially healthy practice that can thrive for years to come. Let’s walk through the most frequent mistakes dental practice owners make and, more importantly, how you can avoid them. A proactive approach not only keeps you prepared but also ensures you’re making the most of every opportunity to save.
Messy or Missing Records
If you can’t prove an expense, you can’t deduct it—it’s that simple. The most common mistake we see is failing to keep clean, organized records. Ensure all documentation for your deductions is organized and readily available. This means keeping every receipt, invoice, and bank statement that supports your claims. Without proper records, you risk losing out on legitimate deductions and facing serious challenges during an audit. A shoebox full of crumpled receipts won’t cut it. Implementing a good system is your first line of defense, and getting help with accounting software implementation & support can make tracking effortless.
Leaving Money on the Table
Are you certain you’re claiming every single deduction you’re entitled to? Dental practices are eligible for a wide range of tax deductions, but to take full advantage of them, you need to keep detailed records of every expense. It’s easy to remember the big things like payroll and dental supplies, but smaller costs can slip through the cracks. Think about journal subscriptions, marketing materials, or bank service fees. These lesser-known deductions can significantly impact your bottom line. A comprehensive business tax planning strategy helps ensure no expense is overlooked, turning what might seem like small change into substantial annual savings.
How to Reduce Your Audit Risk
No one wants to get a notice from the IRS. The best way to reduce your audit risk is to maintain meticulous records and operate with transparency. When you keep detailed documentation for every expense, you’re not just preparing for a potential audit—you’re building a case for your own diligence. This proactive approach shows that you’re on top of your finances and claiming deductions in good faith. Should you ever face questions, having everything in order makes the process smoother and less stressful. And if you do receive a notice, having professional tax notice & audit representation on your side can make all the difference.
Put Your Tax Strategy to Work
Knowing your deductions is one thing; putting that knowledge into practice is another. A proactive approach to your finances throughout the year is what truly makes a difference come tax time. It’s about creating simple, repeatable habits that keep your records clean and your strategy sharp. This way, you can focus on your patients, confident that your financial house is in order. Think of it as preventative care for your practice’s financial health.
Maximize Your Deductions Year-Round
To get the most out of your deductions, you need to treat record-keeping as a year-round activity, not a last-minute scramble. Dental practices have a wide range of eligible expenses, from dental supplies and lab fees to office equipment and employee benefits. The key is to keep detailed records of every single one. By tracking expenses as they happen, you ensure nothing falls through the cracks. A solid system for your business accounting & management makes this process seamless, turning a potential headache into a simple part of your routine.
Schedule Regular Financial Check-ins
Set aside time each month or quarter to review your practice’s finances. During these check-ins, make sure all your documentation is organized and accessible. This includes receipts, bank statements, and invoices for all your expenses. Staying on top of your records not only prepares you for tax season but also gives you a clearer picture of your cash flow and profitability. This habit helps you make smarter business decisions and ensures you have the supporting documents you need for every deduction. Proper accounting software implementation can make these check-ins quick and painless.
Get the Right Professional Support
You’re an expert in dentistry, not tax law—and that’s okay. Partnering with a tax professional can help you spot opportunities you might have missed. Beyond the usual deductions for supplies and payroll, an expert can identify less obvious write-offs and ensure you’re taking full advantage of tax-saving strategies. This kind of professional support is an investment in your practice’s financial future, providing a clear path for growth through strategic business tax planning. Plus, having an expert on your side provides peace of mind, especially if you ever need audit representation.
Related Articles
- Affordable Tax Planning for Dental Practices: Actionable Strategies
- Maximize Your Dental Practice’s Section 179 Deduction
- Business Accounting & Tax Tips for Dental Practices
Frequently Asked Questions
I use my personal car for business errands. Is that really deductible? Yes, the portion of your car expenses related to business use is deductible. This doesn’t include your daily commute from home to the office, but it does cover trips to the bank, dental supply stores, or professional seminars. The key is to keep a detailed mileage log of your business-related trips. You can either deduct the standard mileage rate set by the IRS or track your actual expenses like gas and maintenance, but you can’t do both.
What’s the most common mistake you see practice owners make with their deductions? The biggest and most costly mistake is simply not keeping good records. Many dentists miss out on legitimate deductions because they don’t have the receipt or invoice to prove the expense. Without a clear paper trail, even a necessary business cost can’t be claimed. This habit of messy record-keeping not only leaves money on the table but also creates significant stress and risk if you’re ever audited.
Can I really deduct things like team lunches or professional development courses? Absolutely. Expenses that contribute to your team’s morale, training, and professional growth are generally deductible. A continuing education course that improves your or a staff member’s skills is a clear business expense. Similarly, occasional team lunches or events meant to foster a positive work environment can also be written off. The rule of thumb is that the expense must be an ordinary and necessary part of running your business.
Is it better to buy new equipment at the end of the year? Timing your large equipment purchases can be a very smart tax move. Thanks to provisions like Section 179, you may be able to deduct the full cost of qualifying equipment in the year you buy it. If your practice has had a profitable year, making a significant purchase before December 31st can create a large deduction that lowers your overall taxable income for that year.
My records are a mess. What’s the first step I should take to get organized? Don’t feel overwhelmed. The best first step is to completely separate your business and personal finances. Open a dedicated business bank account and credit card and use them for all practice-related income and expenses from this point forward. This simple change creates a clean, automatic record of your transactions and makes it much easier to track your deductions accurately.