Blogs

I have a patient that owes me $2500. She was denied by Care Credit. Her ability to pay me is questionable. So here is my solution. Co-sign with her on Care Credit. I get my money. She pays them. If she defaults, I pay the balance to Care Credit then I begin billing her and […]

I pay my associate 40% of production and I pay all lab. This past month my associate had to remake a denture for a patient. He just made this denture the previous month. Now there was a second lab bill. Since the patient doesn’t pay for the second lab bill, who do you think should […]

If I’m taking a course and paying for hotel, etc what is the best way to benefit? Is it best to have my employer pay my CE and deduct from my pay check before taxes? Or is better for me to write a check for the CE and list it at the end of the […]

What is the tax advantage of putting equipment, etc. in your children’s/wife’s names and then renting it back? I ran across a practice for sale where the owner does no draw to himself but rents everything from his kids/wife. There’s absolutely nothing wrong or illegal with this set-up. It’s no different than owning the real […]

I am a new associate. What are things that I can claim as a business expense? I have in the past included my malpractice insurance amount. To deduct or not is certainly a personal choice. I won’t deduct mine. The tax savings on a few thousand dollars of premiums is a couple hundred dollars in […]

I have only been out for 2 years now and an opportunity has come up for me to purchase my own practice… I am so excited but also scared! Ok…. I have no clue about what to look for, questions to ask, what I am purchasing into or getting myself into…. Can you please please […]

I have a couple of opportunities presenting themselves to me and I need help deciding whether anything is good for us. We are located in a suburb of Philly. Option 1: Purchase brand new brick free-standing building on busy road (40,000+ cars/day) for 425K. 1700+ sq ft inside, one floor. It is just a shell […]

I’m 42 and I’m two years away from completely owning my practice. At that point my income increases substantially. I was poor and in debt when I bought the practice (which was overpriced and underperforming.) Now, it’s productive but I’m questioning whether I want to stay. Right now I feel tired, burnt out, and not […]

Senior Doc opening a new practice 7 miles away from the old office and offers to go 50/50 on the cost of the startup and the net profits at the end of every year + 55/hr (goes up if production gets pumped) + no management responsibility – the senior doc will NOT work at the […]

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