Al Capone was a notorious mobster and crime boss who committed countless crimes either himself or through his organization. However, the crime that finally got him caught and sent to prison wasn’t related to his gangster reputation. Ultimately, Capone was arrested and convicted for income tax evasion. The man who had a seven year reign as crime boss of Chicago ended up being taken down by a team of accountants.
While this story may not have much to do with dentistry, it is a testament to just how important accountants can be to any field. More than just the people who help you with your taxes, accountants are trained to understand businesses and create solutions that others may not think of. Here are just a few of the ways accountants can solve problems for your practice find success.
While an accountant of any type may be able to be helpful to your practice, a dental CPA fully understands all the ins and outs of dentistry and is able to use that knowledge to help you. Dental accountants are uniquely qualified to assist you because they understand your issues in the larger context of dentistry and can examine an issue from every relevant angle. They know the business and therefore have a better grasp on will be the right solution for you.
Big Picture Thinking:
Accountants are known for their analytical minds. When it comes to solving a financial problem in your practice, a new perspective that considers all the widespread consequences may be exactly what your practice needs. This capacity for lateral thinking is one of the reasons why dental accountants are able to make such significant contributions to your practice success.
Difficult problems require creative solutions. While accountants aren’t always respected for their originality, you may be surprised to know that their line of work takes quite a bit more creative flexibility than most believe. Combining their knowledge of the dental field with the ability to bring a unique approach allows dental accountants to come up with innovative solutions that work to meet and exceed your practice’s financial goals.
The easiest way to gage how well your practice is doing is to hire a professional dental accountant. However, not all accountants are the same, and you should know what you’re looking for before you trust your business to anyone. As you research your options, make sure your next accountant has these five qualities.
It may seem like a no brainer, but your accountant should be an expert in bookkeeping and accounting specific to the dental industry. Make sure they know the best options for dentists and stay on top of practice related financial details and information.
If you’ve tried to do your accounting yourself, you know just how quickly it can turn messy. Hire an accountant that knows how to clean up the mess and keep it that way. Not only will this allow you to reach your goals faster, but it was also help ensure your business is both efficient and compliant.
Trust is one of the most important factors when deciding on an accountant. You are often putting your practice, your financials and your life in their hands. In this case, reputation means everything. Find out everything you can about the company and accountant before signing anything. Consider contacting professional references for testimonies.
The devil is in the details, and one mistake could cost your practice dearly. Discuss the ways that your accountant would avoid mistakes and stay familiar with your financials. You spend a lot of time familiarizing yourself with your patients, an accountant needs to do the same with your practice.
General Dental Associate / Successor Wanted Hanover PA
Full Time General Dental Associate Position Available in Hanover, PA. Amazing Opportunity for a General Dentist that may not be 100% ready to take the ownership plunge. Do you strive to deliver high quality patient care in a welcoming, modern environment? Do you take extra time to learn about your patients individual needs? Extremely Busy High Tech Dental Practice is Seeking Full Time Dental Associate to join a professional team. This practice is committed to using teamwork and state-of-the-art technology to provide the best dental experience for their patients. Latest and Greatest Technology including Cone Beam, CAD/CAM Dentistry Electronic Medical Records, and many more. Practice is currently averaging over 70 new patients per month and growing. At the moment, four full time hygienists are booked through the next 6 months. Owner is seeking an associate / successor to join the practice now as an associate then enter into a buy-in / buy-out agreement. Practice is easily accessible from Carroll County, Maryland located 7.5 miles from the MD / PA Border. Please upload or email CV / Resume to: Allen Schiff w/ SCHIFF DENTAL BROKERAGE, LLC – 410-321-7707 firstname.lastname@example.org.
Western Maryland Area General Dental Practice Now Seeking Partner with Buy-In Opportunity
Unique Opportunity for a Highly Skilled and Motivated General Dentist to Buy-In and Practice autonomously in a High Tech practice currently collecting $700k+. Great income with Immediate Ownership. 3800+ Active Patients. The ideal candidate must be proficient in all aspects of general dentistry and demonstrate a passion for dentistry and patient care with the willingness to learn and grow. 100% financing available! Contact Allen Schiff w/ SCHIFF DENTAL BROKERAGE, LLC for more info about Dental Practices for Sale – 410-321-7707 email@example.com.
Art Wiederman, a co-founder of the ADCPA, hosts a podcast called 'The Art of Dental Finance with Art Wiederman, CPA'. This podcast will help you to meet your personal and business financial goals through saving taxes, investing and planning wisely and managing your dental practice to be as profitable as possible. We highly encourage you to listen to Art's Podcasts!