Do you plan to open a Dental practice or acquire an existing one? In building your business plan, to ensure a successful launch, engage a professional business advisory team that specializes in the fundamentals of dental practice as the first step in your blueprint for success.
The primary role of a trusted business advisor is to allow dental practice owners to care for patients and focus on practice requirements in an efficient and productive manner 24/7/365. Many practices attempt to do it all on their own, and find it to be mission impossible. There are multiple different types of business advisors that you will need to enlist: Attorney, Banker, Insurance Agent, and a CPA. It is best to engage in advisors that specialize in your specialty to ensure all of your liabilities are covered, and specific purchasing needs are considered.
The dental CPA advisor is not just a resource for tax planning and filing; the right firm will be your resource for investment planning, CFO services in your business, provide daily bookkeeping services and handle payroll for your staffing needs. Investing time in qualifying a professional dental CPA firm with a proven track record in the field is like choosing a business partner and shouldn’t be taken lightly. You need professionals that work in your type of business on a daily basis; the dental CPA of your choice should have a team of experts that allow you to focus on operating your practice and caring for patients.
Many practices choose an internal staff member to handle the daily tasks, or a spouse, over a dental CPA. Problems then occur when the firm grows and scaling is not planned for, or you experience staff turnover, fraud, and most commonly the books are not done accurately so there is no forecasting which can lead to failure or tax penalties. What you need is an experienced advisor, who knows their way around the complex and demanding field of dental practices. A resource for financial questions associated with your dental practice, such as taxes, planning and compliance. Holdsworth & Co., CPA’s work with your internal staff to act as the liaison/key contact; Professionals with the expertise your Dental practice needs in combination with contributions from the internal team.
Ensuring the success and development of your dental practice can be an extremely complex and exhausting task. In order to move through the scary labyrinth of regulations and financial requirements with ease and budgeted costs, you need an expert. This is exactly what Holdsworth & Co., CPA’s – a specialized dental CPA firm provides. Contact us today for a free consultation and get your practice on track for success.