Posts by Heather Porter
7 Dental Practice Management Tips for Profitable Dentists
Being a great dentist may make your patients happy, but it isn’t nearly enough to run a successful dental practice. It may be hard to hear, after all, dentists invest a lot of time and money into becoming a great dentist. However, in today’s competitive marketplace, you need to possess business savvy and have dental…
Read More7 Ways to Improve your Dental Practice Profits
There are nearly 200,000 dentists operating in the U.S. and the American Dental Association predicts this number will grow in the years ahead. It is safe to say that each one of these dentists wants to do everything possible to limit expenses and grow revenue. In order to run a successful dental practice, it is…
Read MoreBookkeeping for Cash Flow for Dental Practices
What is Cash Flow In essence, cash flow is the difference between the money generated by a business – cash inflow – and the cost to operate the business – cash outflow. As it pertains to a small business loan, for example, banks often take it a step further by incorporating personal obligations as part…
Read MoreBookkeeping 101 for Dental Practices
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 MoreChoosing Between A Study Club And A Dental Consultant
Dentists are always looking for new ways to expand their knowledge because dentistry is ever-changing. Whether it’s through study clubs or dental consultants, there are many routes a dentist can take in order to keep up with the latest developments in dentistry. But what is the best option and how do you know which one…
Read MoreImportance of Hiring 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 MoreUnderstanding the essentials of creating a Tax-Free Retirement for dentists
Working in the dental industry is extremely rewarding and can provide a comfortable lifestyle for many years. However, when dentists retire, they often find that their income is lower due to the tax burden they were not expecting. In a perfect world, we would have all the time in the world to make retirement plans,…
Read More5 Ways a Dental Consultant Can Help Grow Your Practice
As your dental practices grow, dentists and office managers require insight and information to make the most effective decisions. With so many responsibilities including patient care, operational management, marketing, and bookkeeping, it isn’t unusual for dentists and office managers to feel overwhelmed as they struggle just to keep up with the daily operation of their…
Read MoreWhy Tax Planning is So Important for Dental Businesses
Tax planning is critical for dental businesses wanting to mitigate their liabilities and risks. It is especially the case when you consider nearly all business transactions are taxed. As you go about tax planning, it is imperative to know and be current with all tax law changes in effect and understand how they could impact…
Read MoreOops, I Missed my Estimated Tax Payment!
Date Extension The IRS extended the filing deadline to May 17, 2021, but did not extend the April 15 deadline for 2021 first quarter estimated tax payments, which has caused some confusion. Your accountant told you to make an estimated tax payment toward this year’s taxes, but you missed making the payment on April 15th. …
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