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 […]
taxes
Dental Practices: How to Avoid an IRS Audit
Most taxpayers will never have to worry about receiving an IRS audit, except for the one percent that do. However, if you’re a dental practice owner and earn a high income, you’re at a greater risk of getting audited by the IRS. Below are the steps you should take now to reduce your IRS auditing […]
Dentist Opening New Practice Needs Bookkeeping Advice
A dentist who was about to open their first dental office approached Only for Dentists for advice. Their original plan was to do all of their monthly accounting and then hire a CPA for the annual returns. They were getting close to their opening date and their anxiety was growing, wondering if it was really […]
Key Tax Provisions of the “Fiscal Cliff”
The bill that congress passed and the president promised he will sign to avoid the dramatic rise in income tax rates AKA as the fiscal cliff will raise taxes on the nation’s highest earners while extending and making permanent most of the Bush era tax cuts. Here is a summary of key tax provisions: Tax […]