This message is for dental practice buyers. Be on the lookout for Covid related income disguised as patient income or reduced overhead. We’ve been seeing this since early to mid-2021, and we continue to see it. As we’re doing our due diligence for our buyers, we’re uncovering issues of how Covid income was reported on…Read More→
Here we are several months into the Covid-19 Pandemic. Businesses have been applying and receiving a variety of loans and grants; SBA, local government grants, health and human service grants, business association grants, etc. But should our business insurance help cover our losses incurred by the closures and loss of business caused by the pandemic? …Read More→
This is a very common question we get with certain practice transitions and many believe the answer is easy, NO! Sometimes I’d agree and other times I would flatly disagree. Unfortunately, it depends on what the potential is and who’s selling it. I believe there are two types of potential when it comes to practice…Read More→
You called your payroll provider on December 20th with your year-end bonuses and thought all was good. A month later your accountant contacts you and says your payroll doesn’t tie; your year-end bonuses weren’t included in the year they should have been. Recently one of my clients had this problem. I was doing their…Read More→
Tax season is upon us, friends, and it’s time to send in all your receipts, reports, and forms to your CPA. Before you finalize your return or schedule your extension, we have some last minute tax tips that may help make your tax season, and the rest of the year, less stressful and slightly…Read More→
Whether we’re working with a new dental client or fixing the financial reporting of an existing one, there have been a handful of common mistakes that we see so often, we thought we’d record them in a blog so you can avoid the same mishaps. Dental bookkeeping doesn’t have to be hard or overwhelming; in…Read More→
Every year, you should be looking at ways to enhance the revenue of your dental practice. If you’re keeping track of your financial records, it shouldn’t be hard to pinpoint areas where you can improve (and even the best dental practices have room for improvement). Overhead percentages are a common place to look. And…Read More→
In a recent Dentaltown poll, collections in 2019 were up for 38 percent of Townies, flat for 18 percent, and down for 15 percent. We know that one of the simplest ways to increase collections is to raise fees; but it’s not that simple. How to do it without alienating regular patients and maintaining profitability…Read More→
We’ve seen the field of dentistry undergo many changes over the past several years, between tech upgrades, M&A activity, the insurance landscape, and the tax code. In 2020, new changes that will affect every dentist involve substantial changes to the CDT code. The ADA received more than 156 code change requests to the CDT dental…Read More→
What is the best advice you could give yourself, if you had to start your dental career over? What mistakes have you made (or seen), and how can a younger dentist avoid the same pitfalls? There is a litany of career advice out there for new dentists. Here, we compile some of the most popular…Read More→
