I see this question frequently, and occasionally I get asked this question from potential buyers. I see claims made by sellers’ advisors that goodwill should be at least 80% of the total purchase price or worse, they suggest that anything lower than 80% will draw the attention of the IRS. This is just plain FALSE!…Read More→
Category: Dental CPA Blog
Selling Your Dental Practice in a Distress Situation
Definition of Stress– “Acute or extreme pain or anxiety, the state of extreme necessity or misfortune, to complete pain or force of circumstance.” A dental practice sale during a time of distress is never easy or pleasant. It is laced with many difficult but related issues, i.e., maintain staff, maintaining productivity, and maintaining practice…Read More→
Buyer of A/R Beware
About a year ago we were engaged to represent a buyer in their efforts to purchase a dental practice. The transaction went fairly smooth and it was one of those engagements where the client wanted to try & handle much of the transaction themselves…or at least as much as they felt comfortable with. As the…Read More→
Six Things To Consider When Selling Your Dental Practice
LOCATION When a potential buyer is looking to purchase a dental practice, the physical location is one of the first considerations. The dental practice location is comprised of not only the actual address but the demographics and population trends of the area. Your dental practice is strongly affected by changes in the area, whether it…Read More→
When Should I Begin Planning To Transition Out Of My Practice?
The first steps begin by recognizing and acknowledging a time frame of transitioning. This may be driven by desire or the need to retire. Often, dentists fear the transition process and view it as the end of their best years. Transitioning out of your dental practice is not the end, it’s the beginning. The ultimate…Read More→
Can Dental Student Loans be Paid off by a Business Account?
So I have heard that some dentists use paying an associate’s student loans off as incentive for joining a practice, just like a hospital does with new MDs. I own my practice and am wondering if I can use business funds to pay off my student loans in the same manner? OK. Before everyone thinks…Read More→
What’s Involved in the Dental Transition Process? Part 1
Be Ready To Transition The most common reason dentists decide to transition is because they are ready to retire. Whether or not this is your reason, you should begin the planning process three to five years before your target retirement date. Divorcing emotional attachment will help you make smart decisions and be ready to make…Read More→
Should You Employ Your Children? What are the Tax Benefits?
Did you know? If you hire your children as employees to do legitimate work in your business, you may deduct their salaries from your business income as a business expense. This can be a substantial benefit for some as it allows you to shift part of your business income from your tax bracket to your…Read More→
How to Conquer Leadership Challenges
It’s always great to hear about young dentists starting their practice, establishing a new partnership, or purchasing an existing practice. While some dentists are more comfortable with embracing the change and smoothly transition into their new roles, others have difficulties. Sometimes it’s hard being the new kid in town or one of the youngest members…Read More→
How Kids Can Help Around The Dental Office
Here are some tasks kids can do in a dental office andor for the office at home. Make the goodie bags restock and organize the supplies when they come into the office Feed the fish tank in the office Clean & restock the coffeeteadrink bararea Straighten up the waiting room area, restock the magazinesreading…Read More→