The U.S. House of Representatives passed the Tax Relief for American Families and Workers Act of 2024, which includes provisions to support dentists and dental practices.
The $78 billion bill enhances tax breaks for small businesses including dental practices by increasing the limit on expensing of depreciable business assets, such as property, and allowing a deduction for research and experimental expenses, according to a Feb. 1 news release from the American Dental Association.
The act was passed by the House Ways and Means Committee and the Senate Finance Committee in January.
The bipartisan bill will now head to the Senate for consideration and approval, the release said.