Category: Dental CPA Blog

IRS Phone Scam Alert

Our friends at Rea and Associates recently featured an article in their newsletter that sparked a lot of internal conversations here. One of our senior folks had received one of these phone calls (as had some of our clients). Rea and Associates kindly allowed us to share this with you as well. Here is what…Read More→

General Practice Dental Office in Laurel/Wheaton, MD for Sale

Well-established GP practice in high-rise professional bldg. with free parking. Adjacent to Wheaton Plaza Shopping Center. @2200 sf – 4 ops with high-end updated equipment, lab, staff lounge, private office for Dr. Grossing in excess of 800,000.  Great opportunity for growth due to re-development in Wheaton/Laurel area. Easy access to 95 and 495 and the…Read More→

Why Become a Dentist?

Here is another guest post from Dr. Donald Lurie. It seems to me that goals and aspirations upon entering dentistry have changed drastically over the years.  A few weeks ago, I was attending a conference and the subject arose as to “Why did you become a dentist?”  I thought this was a really easy question…Read More→

The Letter Of Intent (LOI) – Does a Dentist Really Need It?

Here is a post from Tim Lott, CPA, CVA and Ellen Dorner of NL Transitions, a Dental Brokerage firm. The easy answer is no, it is not necessarily needed.   In most states it is not a legally binding agreement anyway, so why go through the effort? There are actually some very good reasons why having a LOI is crucial to…Read More→

Tax Court Rules that Horse Racing Losses Can Be Deducted

Here is one of those instances where meticulous record keeping paid off. Income Tax—Horse Racing Activity Not Passive: The Section 469 Passive Activity Loss (PAL) rules limit losses from any trade or business in which the taxpayer does not materially participate. The Tax Court has recently held that a lawyer’s losses from a side thoroughbred…Read More→

Selling a Dental Practice in a Distress Situation

Here is a blog from Ron Ehman from the Dental CPAs and Ellen Dorner of NL Transitions, a Dental Brokerage Firm Definition of distress – “Acute or extreme pain or anxiety, state of extreme necessity or misfortune, to compel by pain or force of circumstances“. Selling a dental practice in a distress situation is never…Read More→

There’s More to Selling Your Dental Practice Than the Price

Here is a post from Tim Lott, CPA, CVA and Ellen Dorner of NL Transitions, a Dental Brokerage firm. Far too many times when dentists are preparing to sell their dental practice, they are focused mainly on the price and may wind up overlooking many other issues surrounding the practice sale that are just as…Read More→