Dental Practice Accounting: The Dental Profit Equation

Introduction In the fast-evolving dental industry, dental practice analytics are more important than ever before. By focusing on specific aspects of your operations and production, you can find new ways to grow your practice profitability.  By reviewing your practice data, including the number of visits, production per visit, collection percentage, and overhead expenses, you can…

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Financial KPIs And Metrics For Dentists

Financial KPIs are the foundation of business success for dental practices. By setting and tracking specific accounting metrics and values, you can ensure that your business is continually achieving its objectives. In this article, we explore essential accounting KPIs and metrics that every dentist should track to maximize their business’s financial success. 1. Net Profit…

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New Year Resolutions: 15 Dental Goals For Financial Success

As a dentist, the start of a new year is the perfect time to set specific resolutions and dental goals to enhance both your professional practice and your personal wellbeing. It’s also a great time to reflect on what worked well in the previous year, and what didn’t. That way you can keep building on…

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Accounting For Dentists – Recommendations For Dental Practice Accounting

There are many facets of dental practice accounting. It requires a review of your historical and current financial data, a detailed plan of objectives and goals, and a strategic accounting budget. A well-crafted budget serves as a roadmap for business success, allowing you to allocate resources efficiently and understand the sales and expense targets needed…

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Why Tax Planning Services & Tax Planning Strategies Are Essential

Introduction Tax planning services are a critical component of financial management. Tax planning plays a pivotal role in helping individuals and businesses minimize their tax liabilities. Effective tax planning not only saves you money, but also helps you reach your financial goals faster. In this article, we explore the world of tax planning and financial…

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Dental Financial Planning: How To Prepare For Retirement

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…

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Preparing For Retirement: Essential Tips for Dentists

Preparing for retirement doesn’t have to be stressful. Learn about retirement income planning and wealth management today. Read more.

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…

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Selling a Dental Practice: How to Prepare Your Dental Practice for Sale

Selling a dental practice

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…

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The 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…

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Mitigating 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…

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