Category: Dental CPA Blog

Dental practices of every size should have strong internal controls. Optimum financial performance is one reason, but more importantly, internal controls can prevent fraud. It’s estimated that three to five percent of revenue is lost to employee fraud or misconduct every year. How much is that, exactly? As an example, if a dental practice is…Read More→

As a dentist and small business owner, your retirement plan options aren’t limited to just a traditional 401(k) or IRA account. Are you aware of the many other retirement plan options available to you? There are varying tax benefits as the employer, so read on to find out if adding one or more alternative retirement…Read More→

  2018 taxpayers will see many changes related to individual taxes due to the “Tax Cuts and Jobs Act” passed in December 2017. Many of the provisions in the new law expire (sunset) January 1, 2026. The changes affecting most individual taxpayers include: The new “simplification law” keeps the same number of tax brackets but…Read More→

Most of the time when we get engaged to represent a buyer that’s purchasing or buying into a practice, the majority of our work is during the process itself. However, we do include a service that consists of post-closing income tax planning as it relates to the actual transaction itself that some buyers choose not…Read More→

  Did you make New Year’s resolutions? Even if you didn’t, it’s hard to argue the proverbial clean slate and fresh start people often feel at the beginning of a year. You want your dental practice to thrive in 2018, but have you thought about how to do it? Here’s a quick checklist to print…Read More→

As of this writing, it’s mid-November. Dentists should be utilizing year-end tax planning strategies to minimize their tax exposure in 2017 and take advantage of accelerated deductions. With tax reform on Congress’s agenda this winter, existing credits, deductions, and tax rates are up in the air. The best course of action is to plan for…Read More→

In recent posts, we’ve discussed how you can improve patient service through better dental practice performance. You should have a core understanding of what issues to look for, what certain numbers and metrics mean, and how to handle them. In our final post of the series, we’re giving you the key expense areas as benchmarks,…Read More→

Many patients’ dental insurance benefits are on a calendar year basis, with a use-it-or-lose-it policy. According to the National Association of Dental Plans, less than three percent of people with PPO dental insurance used their dental plan’s maximum benefit. Therefore, the end of the year tends to be busier as these patients scramble to get…Read More→

Dentistry is changing, for the better. However, women still face barriers to success based on decades of traditional gender roles in the workplace. Consider the following: Compared to a male dentist who owns a private dental practice, a woman dentist makes, on average, 34 percent less. Male dentists are 22 percent more likely to own…Read More→

This month, DentalCPAs is celebrating Women in Dentistry. Even though roughly half of dental school graduates are female, women still represent just 30 percent of dentists nationwide. In September, discussions on our blog and social media will focus on the contributions and unique challenges of women in dentistry. Follow us on Facebook, Twitter, and LinkedIn…Read More→