Income Tax Planning for Dentists in 2019

Now that tax season is here, you’re probably gathering last year’s receipts and financial documents and preparing for the meetings with your dental CPA. Even though your CPA will handle the heavy lifting, here are a few common items that are essential to tax planning for dentists. Tax Savings for 2019 and Beyond Health insurance […]

Making the Most Out Of Financial Planning

Did you resolve to make better financial decisions for your dental practice this year? Financial improvements are the third most popular resolution people make on January 1. It’s not too late to make progress for 2017. Use this guide as a starting point to set up your office for success. Tips for Financial Success from […]

What’s Most Important to You When Looking To Purchase A Practice ? Part IV

This is part four of my five part blog on “What’s most important to YOU when looking to purchase a practice ? In case you missed part I, there’s a great thread on asking this question and it got a lot of great feedback from people with different perspectives. As a reminder, I won’t […]

QuickBooks Tips Reloaded- Part 1

One of our Dental CPAs, Deana Jordan, posted an article in the January issue of Dentaltown magazine discussing QuickBooks: 10 Tips to Stay Organized and Efficient. We received so much great feedback from clients and others in the dental community who found the article really helpful. So we decided to further discuss Deana’s QuickBooks tips […]

End of the Year Tips to Minimize Your 2012 Taxes

As many dentists know, the upcoming year end is always the time to consider minimizing your taxes. Here are a few tips from the CPAs at the Dental CPAs. Maximize your contributions to retirement plans. Contribute more to your 401k by the end of the year to reduce your taxable income and your tax bill. […]

11 Reasons Why a Dental CPA is Preferable to a General Accountant for a Dentist

Here are 11 reasons why using a dental CPA is preferable to an accountant who isn’t dental specific. We’d love to hear your suggestions for other reasons as well. 11. Your accountant doesn’t know the difference between a prophy and a root canal. 10. Your accountant doesn’t know how participation in insurance plans affects the percentage of […]

Deferred Interest on Dental Balance Sheet – What is It?

I’m trying to understand some Balance sheets and was wondering if someone could explain why the deferred interest on a lease I have is listed on my assets. Since deferred interest increases the amount I owe on the loan wouldn’t it add to the liabilities side of my balance sheet? Hopefully you understand debits and […]

Can I Take The Section 179 Personally?

I am buying about $200,000 worth of equipment. Can I take the benefit on my personal taxes and derive more of the benefit that I could otherwise through my corporation. Maybe, however, why not keep it simple, take the deduction at the corporate level and reduce your w-2, therefore getting the benefit on the personal […]

Buying A Dental Practice That Has An Out-Dated Look

Tim, The more I read from you the more I like you. My first practice was $30,000 (total purchase price) and it grossed a bit more than that in a year. I borrowed $70,000 more and spruced it up a bit, with results much like you described. A few years later (almost 20 years ago […]