It’s easy to assume that your practice is immune to fraud. Ignorance is bliss, right? This case study from the ADA might change your mind: A young, new dentist acquired an existing practice and decided to keep the staff intact. After all, they knew the patients, and the previous dentist trusted them. But on the…Read More→
Category: Dental CPA Blog
Examining Where Fraud Occurs in Dental Practices
Did you know that fraud in dentistry costs around $12.5 billion every year? We’re talking about filing false insurance reimbursements, intentionally miscoding procedures, and outright theft from the practice. Not knowing is not the answer. No one wants to have five percent or more of their practice’s revenue just disappear, not to mention how badly…Read More→
2018 townie mtg presentation – buying a dental practice-there more to it than price-part II- Buyins\Buyouts\Mergers & Special Situations
Now that we’ve covered the meat and potatoes of my 2018 Townie meeting presentation lets go over some negotiating tips that will be useful in any purchase transaction you may find yourself dealing with. Let’s talk about the purchase price. While the price may not be the most important aspect of some transactions, that doesn’t…Read More→
2018 townie mtg presentation – buying a dental practice-there more to it than price-part II – Buyins\Buyouts\Mergers & Special Situations – Part VII
Next up we’ll dive into practice mergers. This is a very exciting topic for me because the practice merger is probably one of the BEST investments an existing practice can make with likely the BEST ROI of all practice growth strategies. That’s my opinion anyway. Now, a “merger” is usually seen in three different forms:…Read More→
Income Tax Planning for Dentists in 2019
Now that tax season is here, you’re probably gathering last year’s receipts and financial documents and preparing for the meetings with your dental CPA. Even though your CPA will handle the heavy lifting, here are a few common items that are essential to tax planning for dentists. Tax Savings for 2019 and Beyond Health insurance…Read More→
How Is Tax Reform Affecting Dentists’ Tax Returns in 2019?
The Tax Cuts and Jobs Act of 2017 made sweeping changes to the federal tax code. Even though we’ve had a year to adjust, this filing season is the first time we’ve really started to see the results of changes that went into effect during 2018. There were a number of tax changes affecting dentists…Read More→
2018 townie mtg presentation – Buying A Dental Practice-There’s More To It Than Price-Part VI- Buyins\Buyouts\Mergers & Special Situations
In the last blog we talked about the purchase of a “large” practice with multiple doctors and the related issues with those transactions. In this blog we’ll address the “buyin” transaction where the seller isn’t ready to sell 100%, rather they want a buyer who will partner with them by acquiring up to 50% of…Read More→
SEC 199A – BETTER KNOWN AS QBI & QBID
There’s been quite a bit written on this new tax deduction for small businesses so while I don’t want to re-write the same articles I thought it would be helpful for dentists to be aware of some of the nuances of this new deduction now that year-end planning season is upon us. You should speak…Read More→
Subscription-Based Dental Care On the Rise
Concierge health care is becoming more popular among doctors who want an easier way to serve patients without the hassle of insurance companies. In this newer model of healthcare, patients can select a membership plan with their general practitioner, pay out of pocket every month, and enjoy a range of health services at that office…Read More→
Could Dentistry Disrupt Healthcare?
Healthcare and dentistry continue to evolve, and the intersection of the two has never been closer. As dentists, you already know how valuable quality dental care is to your patients’ overall health. And, with the continued doctor shortage, dentists could be well-poised to fill a needs gap for patients. What if you could work more…Read More→