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| Top Ten Dental Practice Questions |
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1. Entity Selection – Should I Incorporate? If so, S Corp, C Corp, LLC,
Sole Proprietorship, General Partnership? What do all these options mean
to me, and how do they affect my tax return? |
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2. Operating Expenses –Compared to industry averages, how are my
direct expenses and fixed expenses? Am I overstaffed? Understaffed?
Should I hire a hygienist? What about an Associate? Are my dental supplies
too high? Is my profit margin what it should be? |
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3. The cash coming across the counter is landing in someone
else’s pocket – What steps can I implement to reduce the chance of fraud
and embezzlement in my practice. |
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4. Equipment – Should I lease or purchase equipment? What are the tax
ramifications of each? |
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| 5. Retirement Planning – Should I implement a retirement plan? If so, which type? If I already have a plan, is it enough? |
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| 6. Tax Planning – The obvious question: How do I reduce my income taxes? |
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7. Financial Statements – My CPA prepares my financial statements, but he/she doesn’t work with many dentists so I don’t know how to
interpret the financials. How do I know how I’m operating compared to industry averages? Why can’t my CPA tell me?
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| 8. I’m ready to own my own shop. But do I purchase a practice or start from scratch? |
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| 9. Associate Earnings – What are the tax ramifications of being paid as a W-2 employee/associate vs. a 1099 independent contractor? |
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| 10. My CPA – Why do I need a dental-specific CPA? Aren’t all CPAs created equal? |
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If these (or any other questions) ring a bell with you, please contact us for a free initial consultation. We’ll be happy to meet
with you to discuss any concerns or questions you may have. |
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