Established Practice
We work with established dental practice owners to first get the books in order and optimize payroll. From there, we understand all managerial aspects of your practice and determine key areas for improvement. This often results in significant expense savings and production increases. Lastly, we develop a tax minimization plan that coordinates your practice objectives, personal lifestyle goals, and family needs.
Established Practice Services
Tax Planning & Preparation.
Accounting.
Payroll.
Tax Planning & Preparation.
As a practice owner, you have significant opportunity to maximize your tax savings. Coordinated business and personal tax planning. Depending on career stage, this can mean setting up a 401(k) retirement plan, establishing Defined Benefit Pension plans, retaining cost segregation studies, creating holding and management companies, or hiring family members on staff. Your tax management strategy is not something that should be reviewed in April, instead it should be reviewed many times throughout the year, and its impact measured over your lifetime tax savings, not just year by year.
Accounting.
You need to create accurate financial records through ongoing bookkeeping and generate dental-specific financial statements. This approach will help you manage your practice in a financially optimal manner and become the foundation for creative tax minimization strategies.
Payroll.
Payroll is one of the most important functions when acquiring a practice. Nothing kills employee morale like missing the first payday! You will need to process payroll for your employees and account for all required tax withholdings. As you are establishing payroll procedures, it is important to have professional oversight over all of the payroll functions to ensure proper setup and compliance, continuation of any benefit programs, and accurate payroll tax filings.
