As we step into 2024, it’s essential for us to keep our clients informed about the latest tax changes that may impact their financial strategies. As a dentist, you should stay on top of any updates to tax laws that could affect your dental practice. This will help you make informed decisions and ensure that…
Leasing a space for your dental practice can be a pivotal decision that significantly impacts your bottom line. Whether you’re a seasoned dentist or just starting your practice, understanding innovative leasing strategies is crucial for maximizing returns and financial stability. As a Certified Public Accountant (CPA) specializing in advising healthcare professionals, I’ve witnessed the approaches…
In the age of smartphones and constant online connectivity, digital dental ads have emerged as powerful tools for dentists. With 77% of patients using search engines to find healthcare information, platforms like Google, Bing, or even social media offer incomparable reach. Therefore, creating an engaging and visually appealing ad campaign about your practice becomes not…
Buying or selling a dental practice is a significant decision that requires careful consideration of various financial aspects. After all, understanding the target company’s financial state will dictate your actions and help you understand if this represents a good deal or not. Whether you are a dentist looking to expand your practice or a seasoned…
In the intricate world of managing a dental practice, where precision and expertise are essential, dentists stand out as dedicated professionals committed to delivering optimal patient care. However, there’s a crucial aspect of practice management that often takes a back seat – the strategic coordination of human resources (HR). Many dentists combine the roles of…
From our latest blog posts, you learned that a thorough due diligence process is crucial in dental practice transactions to minimize risks and guarantee a prosperous result. It involves the analysis of different aspects of a dental practice before the purchase or sale occurs, covering financial, legal, and operational aspects. As a dental CPA company,…
Imagine you’re on the brink of acquiring what seems like the perfect dental practice — great location, solid financials, and a positive atmosphere. You’re ready to sign the dotted line when, out of the blue, negative reviews pop up. As you scroll through online feedback, the once-glowing reputation starts to tarnish. Patients complain about missed…
In some previous blog posts, we explained the importance of strategic due diligence in a dental practice acquisition. This process involves an in-depth examination of every aspect of a practice, including financial statements, operational systems, inventory, assets, and equipment. Evaluating the condition of the company’s physical assets, such as buildings, facilities, and equipment, is essential…
The dental industry has evolved significantly in recent years, not just in clinical advancements but also in how patients seek and choose dental care. Today, an online presence is non-negotiable. Patients conduct extensive research before making dental decisions, making it crucial for dental practices to establish a robust digital footprint. Navigating the financial landscapes of…
The acquisition of a dental practice involves more than just the transaction itself. It necessitates a strategic approach to allocate the purchase price appropriately, ensuring both buyer and seller are in compliance with accounting standards while maximizing tax benefits. In this process, purchase price allocation (PPA) is a crucial aspect, impacting financial reporting, tax implications,…
Our Dental CPA firm provides dental professionals with a wide variety of custom services to enable dentists to excel in the dentistry business. It’s vital that dental businesses are well established, so that personal and business success may be accomplished in an effective manner and that potential risks are recognized, minimized, and promptly dealt with.
