On June 10, 2015, Only for Dentists principal, Bassim N. Michael, CPA, MS Tax, presented at the Hilton Santa Clara on what dentists need to know when buying or starting a dental practice. This event was put on by the California Dental Association. In his presentation, Mr. Michael addressed the current economic trends in dentistry […]
Are You Using the Right Business Structure for Your Dental Practice?
The business structure you use – sole proprietor, LLC, etc. – has tremendous impact on how your dental practice operates and pays taxes. A business structure is simply an organizational framework. The IRS requires you to select one for your company, since this designation will determine the tax forms you’ll file as well as who […]
What Does the Executor of a Will Do?
A number of decisions have to be made when a Last Will and Testament is created for a dental practice owner. The majority of those decisions relate to the disposition of estate assets. However, there are other decisions that must be made as well, including the appointment of an Executor. All too often, the appointment […]
Does My Business Need to Collect Sales Tax?
Small dental practices face numerous hurdles along the way to success. At the top of the list is navigating the various local, state and federal taxes obligations the business incurs. Neglecting to file taxes that the company owes can cause a fledgling business to fail before it even gets off the ground. Among the potential […]
5 Legal Problems to Avoid as a Small Business or Dental Practice Owner
It’s a fact of life, and a fact of business – mistakes happen all the time. But when business mistakes turn into legal problems, they can mean the difference between small business success and failure. Knowing what legal pitfalls to watch out for when running your dental practice can make a huge difference. Take note […]
What is a PEO?
The acronym PEO stands for “professional employer organization.” These organizations help businesses reduce costs by allowing them to outsource the management of important company functions, such as workers’ compensation, payroll, employee benefits and human resources. By partnering with a PEO, a dental practice or other company can grow its bottom line and focus on its […]