Posts by Adam
Dental Financial Planning: How To Prepare For Retirement
Introduction As a dentist, you face unique financial challenges in your profession. Thankfully, all of these challenges can be overcome with effective dental financial planning. While you dedicate your days to improving the oral health of your patients, it’s crucial to secure your own financial well-being, especially when it comes to preparing for retirement. In…
Read MorePreparing For Retirement: Essential Tips for Dentists
Introduction As a dental practice owner, you’ve worked hard to build a successful, thriving business. That’s why it’s important to take care of your financial health, especially when it comes to preparing for retirement. In this blog post, we’ll provide essential tips and strategies to help you achieve a financially abundant retirement. We’ll explore saving…
Read MoreSelling a Dental Practice: How to Prepare Your Dental Practice for Sale
Introduction As a dental practice owner, there comes a time when you may be contemplating the next step in your professional journey. Whether it’s retirement, a career change, or a desire to pursue other ventures, the decision to sell your dental practice is a significant one. When selling a dental practice, it is important…
Read MoreThe Role of Financial Planning in Retirement for Dental Practice Owners
Introduction Retirement is an important phase of life that requires careful financial planning and preparation. As a dental practice owner, it’s essential to understand the unique challenges you may face when it comes to retirement planning. It’s important to consider saving and investing, real estate ownership, dental practice transitions, succession planning, and business valuations to…
Read MoreMitigating Tax Risks For Dental Practice Owners
Tax mitigation is essential as a dental practice owner. With increased funding to the IRS, your chances of being audited are increasing, especially if you have $400,000 or more in total annual income. At the same time, taxes are also going up. Starting in 2022, research and development (R&D) expenses previously allowed as deductible items…
Read MoreThe Benefits of Outsourcing Accounting and Bookkeeping for Your Dental Practice
There are many benefits to outsourcing your accounting, bookkeeping, or payroll to a team of CPAs that specialize in dental practices. By outsourcing your accounting and bookkeeping to a team of expert Dental CPAs, you have more time to grow your business. It also saves you money and reduces stress, while providing you with accurate…
Read MoreThe Best KPIs For Dental Practice Financial Management
Measuring your business performance is the key to success as a dental practice owner. It helps you keep track of your progress towards goals and highlights areas that could be more profitable. One way to measure your business performance is through Key Performance Indicators (KPIs). KPIs are insightful metrics that help you track, analyze, and…
Read MoreStrategies for Investing Profits from Dental Practices to Build Wealth
You can make a lot of money as a dental practice owner. But making money is only half the battle. You also need to invest and grow your assets to build a solid foundation of wealth. Otherwise – all your profits will get eroded by unnecessary taxes, expenses, and inflation. Thankfully, there are many ways…
Read MoreFinancial Considerations For Buying a Dental Practice
Buying a dental practice is the natural next step for many dental associates looking to advance their career. Working for someone else is part of the journey, but it’s usually not the end goal. If you want to build a thriving business, invest in your future, and have control over your time and money –…
Read MoreEducation Tax Credits for Higher Education
How many of us have come up against the soaring rates of college tuition as we strive to match our academic skills with a budget friendly four-year university. Whether it’s you or your child, managing to pay for higher education is an ambitious endeavor, made even more challenging due to the staggering yearly increases in…
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