Just as a neurosurgeon specializes in brain or spine surgery, a dental CPA specializes in performing accounting and advising tasks for dental practices. Having a specialist on your team can be beneficial in many ways. Here, Only for Dentists explains why enlisting the expertise of a specialized dental CPA is so vital to the success […]
Top Dental Bookkeeping Mistakes
Dental practices can cost themselves hundreds or even thousands of dollars by making relatively simple accounting mistakes. Here, the CPA and accounting professionals at Only for Dentists detail the top dental bookkeeping mistakes. Recording Transactions in a Previous Period Dental practices should “close their books” at the end of every month, which includes reconciling all […]
Here are the Documents You Need When Deducting Business Expenses
Most ordinary and necessary business expenses are deductible as long as you have the proper documentation. If your return is audited, the IRS may require that you show the type of item purchased and that payment was made. Here are some examples of acceptable documentation. Checks. A canceled check can be used as proof of payment […]
Can You Deduct Your Vacation
How would you like Uncle Sam to pay for part of your vacation? Sound unlikely? If you combine your vacation with a business trip, you may be able to deduct some of your expenses. Pay attention to the rules, though. Expenses must meet certain requirements before they’re tax deductible. General Guidelines As long as your […]
Why You Need An Annual Business Review
In addition to providing for you and your family, your small business is a part of this country’s job creation engine. Small businesses make up 99.7% of U.S. employer firms and account for 63% of net new private sector jobs.* Conducting an annual review of your business finances can help keep your business healthy and […]
Do You Have a Business Continuity Plan? You Should
What if disaster strikes your business? An estimated 25% of businesses don’t reopen after a major disaster strikes.* Having a business continuity plan can help improve your odds of recovering. The basic plan The strategy behind a business continuity (or disaster recovery) plan is straightforward: Identify the various risks that could disrupt your business, look […]