Blog

Selling Your Dental Practice 101

By Spencer Wesley If you’re among the 77% of dentists who own their practices, this is a message for you. The day will come when you need to sell your practice, which by then will represent a valuable asset in your retirement portfolio. As a practice broker, we’ve facilitated hundreds of these transactions, and we’d like …

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Helping New Dentists Solve Money Problems and Build Satisfying Careers

By Susan Nevenhoven As an accountant at a dental CPA firm, I have a lot of clients who are new or recent graduates. Not surprisingly, they have lots of questions about money. On average dentists graduate with close to $300,000 in student loan debt, while those going into private practice can expect to earn $100,000 – …

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Dentists: The Advantages of Ownership Have Never Been Greater

This Spring, about 6,000 men and women will graduate from dental schools across the country. Most will sign on as associates in dental practices, but in a few years, they’ll face a big decision – whether or not they should buy their own practice. Owning a practice may not be for everyone but there are …

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How to Properly Hire Temporary Hygiene

When you have a member of your hygiene team out, it’s normal to hire temporary help to cover the schedule. As Dental CPAs, we understand a recurring issue dentists face is how to properly pay temporary hygienists. Whether a temporary hygienist is there to help to fill-in for a day or to help your office …

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Avoid This Super-Costly Mistake with Your Payroll Taxes

Let’s say you paid your payroll taxes. Is there any way you would have to pay those same payroll taxes twice? Yes, and this sad situation happens to unsuspecting business owners every day. Is there any way this could get even worse? Yes. On top of paying the same taxes twice, you could have to …

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Will Hiring the Wrong Team Damage Your Dental Practice?

Hiring a team member can be a daunting process.  How do you handle it? Do you hire the first person with a great resume?  Even if they don’t have dental experience or it’s been a long time since they worked in a dental practice?  Sadly, a bad fit typically doesn’t take long to surface. And …

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Why Dentists Should Consider an In-House Membership Plan

Are you considering an in-house dental plan?  Maybe you already have one up and running? The fact is, an in-house membership plan can provide a tremendous upside for dental practices.  You can provide dental coverage, often at a price point similar or lower than traditional insurance providers, to your patient base. This is a great …

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Buried under a mountain of work?  Payroll services to the rescue!

As the business of dentistry gets even more complicated, it’s vital that office staff members be up to speed. The problem is, however, that many dental offices are just keeping their heads above water. The good news is that practices have many options. For instance, an effective outside billing service or professional management firm may …

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All Practice Management Software Is Not Equal

Like many industries, the dental profession has been transformed by the digital revolution. Technology has moved from a small but important part of your practice to center stage. Technological change is happening faster than ever before, and consumers expect your practice to offer the same convenience and value they get from other services. Mission Possible …

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War of Wages: Best Practices For Staff Raises

To paraphrase William Shakespeare, “To give a raise, or not give a raise, that is the question.” Staff expects raises, as they are a tangible reward for their efforts. However, raises may not always be possible or advisable. So, how do you determine whether to give your employees a raise? There are simple steps to …

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