Advisory Services

Dental CPA

What kind of Advisory Services does Willeford Group offer?

We offer a wide range of advisory services to meet your individual and practice needs.

Practice Management

Have you struggled with setting or achieving financial goals? Is your practice stagnant or growing sluggishly? Are you trying to upgrade equipment or increase staffing, but not sure whether you can afford it?

We work with a variety of practice management experts, all of whom have years of experience helping dental professionals like you reach new levels of success.

Despite efforts to generate income, fluctuations in appointments and expenses may keep your cash flow tight and uncertain throughout the year. You may be unsure whether you can afford the equipment, resources, and tools you need to run your practice most efficiently. We can help you understand the monetary and tax implications to make decisions with confidence and will work with you to ensure that you can meet your personal, financial, and business goals.

Practice Transition: Buying, Selling, and Partnership

Buying into a practice? Selling an established practice? Bringing on a partner?

Our collaborative approach to transitions and succession planning could be your most important asset. Our extensive presence in the dental marketplace gives us the expertise to help you understand the tax and cash flow implications of a practice transition.  We work with a variety of colleagues who can calculate the fair value of a practice and even help you find a seller, buyer, or partnership opportunity.  Because we do not offer dual representation, our tax expertise allows us to structure the opportunity to your maximum advantage, as your own independent advisor.

Each Doctor’s style and needs are different, so we provide consulting and contract services for setting up associateships, partnerships, and space sharing arrangements. We can evaluate opportunities you have already found or facilitate access to leading practice brokers’ systems, programs and contracts and their network of opportunities.

Retirement Planning

Are you planning for retirement? Do you know how much savings you will need to have in order to afford the retirement lifestyle you want? Are you taking advantage of every opportunity to grow your savings?

Administering a retirement plan is one thing; designing a personalized retirement plan that is employer favored, is the most efficient one to help you achieve your unique goals, and meets with IRS approval is another matter.

In collaboration with one of our ADCPA colleague Firms, Our team can maximize the value of your contributions and provide you with a lifestyle-friendly retirement. By both designing and administering your plan, we can save you on implementation fees and help ensure a close relationship between your practice and retirement plan accounting and reporting requirements.

Personal Financial Planning

Do you need an expert in personal financial planning? Do you have a child headed for college? Are you supporting an elderly relative? Do you need to create an estate plan to secure your wealth for your heirs?

In collaboration with one of our ADCPA colleague Firms, we offer advice on your personal financial planning to complement the business planning for your practice. Fee-only comprehensive financial planning addresses priorities such as maximizing cash flow, minimizing taxes, and individualized needs, such as funding education, estate tax planning, and elder care issues.

Cost Segregation Study

Have you recently renovated your dental practice or built a new building? Did you have a Cost Segregation Study to segregate dental specific costs into depreciable life of only 5-15 year life instead of the typical 39 year tax deduction?

If you have spent over $200,000 on your build-out and have not used a Cost Segregation Study, you may be paying too much in taxes.  In partnership with an engineer, we can allocate some of your expenses into dental specific build-out categories to use the time value of money to help you create more cash now, when you need it the most.