If you’re like most dentists, you didn’t start your practice to spend hours reconciling accounts or analyzing financial statements. However, accurate bookkeeping is the cornerstone of any profitable dental practice. Without it, you can’t make informed decisions, minimize taxes, or plan for sustainable growth.At Only for Dentists, we offer specialized bookkeeping and accounting services for […]
Bookkeeping
Why You Need a Dental CPA
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 […]
Why You Must File and Pay Your Employee’s Withholdings on Time
There is zero wiggle room when it comes to handling the federal income taxes and FICA taxes withheld from employees’ paychecks. The taxes are government property, which employers hold “in trust” and then remit to the IRS on a set schedule. Employers are not permitted to use this “trust fund” money for other purposes. Serious […]
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 […]
Why Small Businesses Need Agreements in Writing
Small businesses often capitalize on their less formal, more personal, approach to their customers and clients. While there is nothing wrong with this approach in general, it should not extend to business agreements and legal matters. On the contrary, a small business, including dental practices, should insist on reducing all agreements to writing just like […]