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Our Services
Accounting and Financial Statements
The monthly financial statement is the “report card” of your practice.
Would you send your child to school and be satisfied getting only one
report card for the year – long after the school year ended, and way
too late to be pro-active? In addition to telling us about the financial
wellbeing of your practice, a timely financial statement is also the key
to aggressive tax planning and projections. Accounting services include
bank reconciliations, credit card recording and reconciliations, balancing
notes to amortization schedules, and generating both a Balance Sheet
and Profit and Loss Statement. We utilize the Profit and Loss to examine
your collection and spending patterns to compare to other dental
practices to identify problem areas or areas where there’s room for
improvement.
Tax Planning, Projections & Preparations
Everyone has to pay income taxes. Not everyone has to pay the “same”
amount of income taxes. No one likes surprises; especially around April 15.
We practice pro-active tax planning throughout the year, before it’s too late
to minimize income taxes. Once we update your tax projections, we make
suggestions to help reduce that amount. Our CPAs are required to attend a
minimum of 40 hours of Continuing Professional Education annually. This
allows us to stay up to date with the ever changing and complex tax code.
Our pro-active planning approach before year-end translates to tax savings
for you after year-end.
Buying or Selling a Practice
If you’re considering buying a practice, you’re typically handed a stack
of tax returns, financial statements, and financial projections. With this
enormous “pile of paper”, you’re expected to make one of the biggest
financial decisions of your life. Don’t dare make that decision alone! Over
the years, we’ve analyzed hundreds of transitions for our clients, and made
sound, well analyzed recommendations. Our job is to tell you what you
“need” to hear, even if it’s not what you “want” to hear. We give you our
honest, unbiased opinion.
If you’re considering selling your practice, you need to consult with us long
before the transaction. There are significant tax ramifications on how the
sales price of your practice is allocated. Pro-active planning helps to minimize
taxes so that you, rather than Uncle Sam, keep the majority of the sales
proceeds.