Good dental health begins with the basics: establishing—then monitoring and maintaining—good habits. Likewise, good financial health begins with establishing sound accounting and tax practices.
Monthly Accounting Services
The foundation for our information gathering, monitoring and continual communications is our monthly "accounting" service. The reality is, we feel that we are in the "hand holding" business, and we just happen to be accountants. Over time, our value and service to you should transcend just the numbers.
Starting with the basics, we work with dentists to establish sound accounting practices. Like most accountants, we prepare or review bank reconciliations, payroll reports and financial statements. However, our similarity ends there. Unlike typical reports that are prepared primarily to do income tax returns, our reports are designed to be analytical tools to help us—and you—to manage your practice finances. Our proprietary Adagio/QuickBooks reports provide the backbone to our special reporting capabilities. In addition to a management-style "profit and loss" statement, we prepare a "cash flow" statement that can be modified to coordinate with any special requests from a management consultant you may also be working with. In addition, we monitor certain practice management statistics, and we compare your production each month to the average production of the rest of our clients using our proprietary Dental Production Index.
Click Sample Reports to see how financial statements should look to help you manage your practice!
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Seminar: Business Fundamentals for the New Dentist
Tax Planning & Preparation
We share a common goal: minimizing tax obligations while staying out of trouble with the IRS. We're up to speed on dental-relevant tax codes -- minimizing your cost of equipment, enhancing the tax benefits of owning your building, and maximizing your use of pre-tax fringe benefits.
Two things most folks hate are penalties and surprises. To better avoid them—and to plan ahead, we provide updated tax projections throughout the year. As part of our tax planning process, we take into account how conservative—or aggressive—your approach is to taxes. In fact, part of our role is to help you know if you are more conservative or aggressive than you realize. The tax laws include a lot of gray areas, and we use our skill and experience to help you navigate through the maze.
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Seminar: Advanced Retirement and Tax Planning
Business Tax & Regulatory Services
Whether we're talking payroll tax returns, 1099s, W-2s, property tax returns, Department of Labor statistics or worker's compensation audit reports, our goal is to free you up to maximize patient care while we interface with the IRS and other intermediaries. In fact, to further simplify your day, we include our office address on all tax forms so the come to us first so we can send you the completed forms, ready to file.
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