Whenever I speak to dentists about eventually transitioning out of their practice, they all have the same question: Am I better off bringing in an associate to eventually purchase my practice? In the past my response has been vague answer of “it depends”. However, over the last six years, my response has been a little…Read More→
Category: Dental CPA Blog
Dental Associate Agreements
Here is a guest blog post from our friend Carl Guthrie from ETS Dental. Associate Agreements (contracts) can suffocate us at a time we should be reveling in a new opportunity. However, many dentists don’t understand what is in their contracts, in turn complicating the process and turning this joy of new opportunity into a…Read More→
Dental Experts Are Your Friends
Years ago, when you decided to go to dental school, all you thought about was how to make your dental practice a success. During that time, there were many people in your life giving you advice on how to make that happen, whether they were professionals or just your family and friends. Fast forward to…Read More→
The Specialist and Dental Study Clubs
This is another guest post from our client Dr. Lurie. It seems to me that the need and demand for continuing education is extremely important to our profession. Obviously, so do the State Boards and licensing folks. I would like to discuss study clubs and how to gain the most value for the time and…Read More→
The Top Twelve Mistakes Dentists Make Filing Their Taxes
Lance Jacob of the Dental CPAs has compiled a list of the top twelve most common tax filing mistakes that he sees his dental clients making. If you don’t have a dental CPA, contact Lance. Filling out tax forms with an incorrect Social Security number. The IRS computers will automatically reject your deductions and credits if your…Read More→
The Dental Specialist and Referrals
Here is another guest post from our client Dr. Lurie. We are so fortunate to have him share the wisdom he gained for five decades as a dental specialist. It seems to me that the dynamic of a specialist obtaining referrals has changed. As we have all noted, private solo practice in the specialties has…Read More→
New Mileage Rates Released by IRS
The IRS has released the 2014 optional standard mileage rates that employees, self-employed individuals, and other taxpayers can use to compute deductible costs of operating automobiles (including vans, pickups and panel trucks) for business, medical, moving and charitable purposes. The 2014 standard mileage rate is 56 cents per mile for business uses and 23.5 cents…Read More→
In This Season of Thanks, This is How One Dentist Gives Back to His Community
Here is another guest blog from our client Dr. Don Lurie. It seems to me that in this season of the year, our thoughts should turn to the ideals and morals of our history, of our parents and grandparents and even of the faith that has united and nourished us. We all hear the expression…Read More→
Several IRS Tax Court Rulings Dentists Should be Aware of… (if for no other reason than to dispel the myth that the IRS is humorless).
A Bike Sharing Program Isn’t Mass Transit Employee Benefits—Bike Sharing: Expenses an employee incurs by participating in a “bike share program” do not qualify for the favorable tax treatment provided for qualified transportation fringe benefits. According to IRC Sec. 132(a)(5), employers that provide their employees with transportation benefits can exclude those benefits from employees’ gross…Read More→
Dental Mentoring Equals Dental Outreach
Here is another guest post from our client, Dr. Donald Lurie. It seems to me that part of the continuing attempt to refresh and recharge our enjoyment of practice is the chance to be a mentor. In these times, there is an obvious decrease in the ability to sit back and enjoy the practice of…Read More→