Bookkeeping & Accounting
Dental Bookkeeping 101
As a competent dentist, you can fill a cavity with flair and perform root canal with aplomb. But when it comes to immersing yourself in the labyrinth of bookkeeping activities, your confidence level could take a plunge. Afterall, bookkeeping is a specialized field requiring financial acumen and expertise in organizing and preparing financial records so…
Read MoreImportance of Hiring Dental Accounting and Bookkeeping Services for Your Dental Practice
You spent years getting your education and work experience to be able to open your dental practice. And if you pursued the conventional way of obtaining your qualifications and schooling, you likely did not acquire skills in bookkeeping, or accounting for that matter. When you began your dental practice, you focused on the areas related…
Read More5 Reasons Why you Should Hire an Outside Professional Bookkeeper
Accurate bookkeeping is essential for four main reasons. One, if your books are incorrect, you could have a cash flow problem and not know it. Two, there could be consequences to your tax liability that could either result in trouble with the IRS or an increase in tax liability. Three, up to date and correct records help you make quick decisions when emergencies or opportunities arise. Lastly, having an unbiased, outside set of eyes will enable you to catch any fraud if that should happen. It is ALWAYS best to a different person reconcile the accounts than the person who enters in the transactions.
Read MoreBookkeeping tips for personal property tax tracking
Many counties assess and charge what is known as personal property tax (PPT). PPT is a tax based on a percentage of the assessed value of items and equipment, used in your business, that does not form part of immovable property. (Vehicles are typically excluded from this type of tax.) These tax filings can be…
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