Dental CPA FAQ: Answers to Your Dental Practice Financial Questions

We are a CPA firm specializing in serving dentists and medical professionals. Our services encompass monthly accounting, annual tax preparation and filing, as well as providing advisory services for personal financial matters and practice growth.

We provide specific and customized planning services for our clients. Everybody’s situation is different and requires heavy research and customized plans. Tax planning is a strategic planning that is a huge part of personal financial planning and wealth creation. Repetitive monitoring, meetings, and improvement are very important to achieve proper goals.

A very important detail in how to select a CPA is the business knowledge, attention to detail, and the ability to assist you throughout different stages of life, business, and personal financial situations.

As trained financial professionals and certified financial planners, we assist our clients with financial planning. Again, this is to help our clients have a comprehensive approach, and achieve their overall personal goals, in addition to business objectives.

This is one of our very important specialties. We provide educational events to prepare our clients, notify acts, get the resources, and prepare for the next steps. Once you have identified a proper project, we can assist you with all stages of the transition process. It starts with meetings to select the right practice, assess its suitability and profitability, put the proper price on it, and prepare a letter of intent. After the letter of intent is accepted, come up with assistance with due diligence, and also receive proper financing. We will be working with you, like partners, throughout the transition process, with all known resources to us, to make sure you get a good deal and close properly. It’s very important that this process is done properly because this causes you to start your business well.

Taxes are one part of our overall planning. We have a lot of conversations with our clients such as a bad investment in equipment, investment in real estate, investment in practices, and also assisting with major steps toward retirement planning. These are some of the bigger, tax issues that help having additional deductions. Furthermore, we make sure that through good accounting and book systems, we are on top of all of the ordinary and necessary business expenses. We also assist with some more advanced techniques, such as research and development, tax credits, other tax credits, and cost segregation studies. These items are sometimes very specific to the dental profession, and not known to a lot of regular CPAs.

There are a lot of audits for dental practices going on in California. You can have audits from the IRS, state, taxing agencies, dental boards, insurance, companies, and employment development departments. The most important steps for you would be to always have all paperwork ready, have to right systems, always go by the book, and never cut corners. Also, it is essential to work with the right people to defend you during these audits.

Education, high licensing, long experience, and the knowledge of the business. Also, we have close relationships with our clients, know all of their concerns and needs, and plan properly and specifically for them to achieve their goals.

  • Master of Business Taxation, MBT,
  • Certified Public Accountant, CPA
  • Certified Financial Planner, CFP
  • Personal Financial Specialist, CPA/PFS
  • Certified Divorce Financial Analyst, CDFA

When you buy a dental practice, you buy part of the total acquisition as equipment, and a part of it is purchased as goodwill. The part purchased as equipment can be immediately deducted from your taxes. The part that is purchased as a Goodwill, is to be amortized over 15 years. It’s very important to work with the right professional to recognize this very valuable text allocation and to assist you with proper tax planning.

We provide full bookkeeping services, utilizing QuickBooks online. Our books are dentistry customized, we provide itemized, payroll, and proper order of expense classes, to make sure that our monthly reviews are done easily, the books are easy to understand for our clients, and we can recognize the areas of concern quickly and properly. This is probably one of the most important steps in the overall process. Having books is very very substantial. This is often overseen by a lot of other CPAs and also Dentists. It’s very important that you invest in your books.

Constant monitoring of expenses and key performance indicators. Once you have the right information you can make proper decisions and changes, and make sure that you constantly improve.

As one of the authorities in California for valuations, we provide services to all kinds of different situations, such as estate, planning, divorce, financial planning, valuations to sell a practice, valuations to buy a practice, lawsuits, and larger mergers and acquisitions to DSO‘s, or private buyers.

Every practice is different, and it needs a trained and skilled IT to be able to recognize the real value, but also be able to assess hidden risks in financial statements and software documents. Our valuation is one of the most comprehensive in the industry, considering financial and non-financial information. Traditional evaluation, Dental concentrate, and basic numbers only. We do huge deep-dive reviews and make sure that we can assess the value of the dental practice in terms of dollars, but also in terms of potential for the future.

The fees for our services are based on size, complexity, and the levels of services chosen. Some of our clients choose basic tax and accounting services only. Others want us to provide additional personal advisory and business advisory. We will be able to provide you with customized and fair costs and fees once we review some basic information and discuss your needs. After that, we will be able to provide you with a proper proposal, and we will go over all the details.

Our experience, knowledge, resources, and dedication to dental and medical professionals, help our clients to be on their basic financial information, and also be able to plan for the future, getting the right resources. Our planning is customized and through meetings with our clients, we listen to their needs and are able to be valuable members of their team so that they can excel in their businesses and also achieve personal goals.

You take care of your patients;
And we'll take care of your practice.

You went to school because you care and because you want to help. Your patients are important, their well-being is important, and they matter.
We feel the same way about your business.
We want to help.