You're not a financial mastermind. There are a lot of balls to keep in the air when it comes to your practice’s finances, especially when you're producing $1 million or more. Despite the income, cash flow is tight, and it fluctuates wildly when income and expenses change. You have no idea whether you can afford the things you need, like major equipment purchases and additions to staff, so you make guesses and hope you aren't dooming the practice. And your retirement fund is nowhere near enough to sustain the standard of living you’re used to. How do you achieve balance by growing the practice and still take enough money home?
You have no idea how to handle it. In fact, the idea terrifies you. Luckily, we do - if you're ready for the solution. We can stabilize your cash flow and help you build reserves to handle emergencies. We’ll advise you on expenditures to make sure they’re appropriate given your entire financial picture, and start building the retirement that you always thought you’d have. Most importantly, we're going to take away the stress of worrying about your cash every night. It’s time to merge practice needs with home needs, and meet both. You can have it all.
End-of-year tax surprises will blow a hole in your financial plan. Normally their cause is poor planning, or no tax planning at all. When your practice’s business and tax structure isn’t set up properly, changes in income and expenses lead to you getting hit with a huge tax bill – up to $80,000. The worst part is that when it happens, your retirement plan gets thrown out the window for six months while you recover. Even a healthy practice can't handle that.
You're past the point of quick fixes and half-measures. There's too much wealth at stake. Don’t rely on an accountant who doesn’t see your financial big picture to get your tax structure in order. Get comprehensive tax help that’s tailored to the specific needs of top-performing dentists. Do you know your tax blind spots for next year? Don’t keep getting caught off-guard.
According to the ADA, 75% of doctors hired as associates at a practice don't become partners. Does that terrify you? It disgusts us. For a dentist, your practice is your legacy. Do you know how to find the right partner and successor for your practice? Or is the idea so frightening that you’re procrastinating, hoping the problem goes away?
Whether you’re selling your life’s work to the next generation, or you’re taking that first step towards building your own story, you want everything to go right. But what’s the best way to make sure that happens? Do you sell your practice in parts, or all at once? How do you make sure you get your money’s worth without gouging your successor? When’s the right time to make the switch? Without help these decisions are paralyzing, but we provide a unique, customized solution for your practice. We know how to make sure your transition works perfectly, and the torch gets passed smoothly.
Most dentists wait until it's too late to start planning their practice transition. Don't make that mistake. How much time are you losing? Start planning now, so you don't risk letting your life's work disappear.
The more money you can save for your retirement, the more options you have available for your investment strategy. That’s why, when managing our clients' assets, our focus is always on saving more – not relying on the stock market, and its dramatic and unpredictable changes, to build wealth.