Would you let your family doctor perform brain surgery on you? Would you let a dentist put on your braces? Not Likely. You would use a specialist in those fields. So shouldn’t you also use a Dentist CPA to work with your dental practice?
A dentist CPA has the knowledge needed for the dental industry. They subscribe to publications like Dental Economics and Dentaltown Magazine, reading and understanding specific industry needs, and staying up to date on what matters most to your practice.
A CPA specializing in the dental field would not be much value to your business if you only utilize them to prepare your taxes once a year. We at Holdsworth & Co., CPA’s take the time to build a relationship with your team to better understand your needs and how we can help your practice grow. We work with your business throughout the year in managing your financial health to allow your organization to keep moving business forward. Here are some of the key benefits of working with a specialized dental practice accounting firm:
- Understand changes regarding taxes and compliance issues.
- Be Proactive! Your Dentist CPA can pick out common issues and trends that many dental practices face. They also provide guidance on how to handle the issue and can look at financial trends or purchasing needs to proactively plan.
- You need to create a retirement plan. Your dental CPA understands and knows what kind of plans will work best given your company size and employee count.
- You’re trying to decide whether or not to purchase equipment (like a CEREC). A CPA specializing in dental practices knows what a CEREC is and whether or not it’s a financially prudent investment.
- You’re thinking about adding a partner to your practice. Understanding how to structure the addition of new partners is a key benefit of working with a dental CPA.
- You are building or buying an office. Your dentist CPA knows banks and loan officers that specialize with the dental industry. They are able to contact them to get estimated loan terms. A loan from a bank that has dental specific lending can have better terms than a bank that does not.
- You want to compare other practices to your practice. We know benchmarks and industry stats for you to compare with. We advise you on how to improve and manage your Dental practice.
Dentist CPA for your Dental Practice
These are just some examples of the many benefits of working with a specialized dentist CPA. Our team of specialized and knowledgeable accounting professionals can help you develop ways to improve your practice, reduce taxes, manage the daily bookkeeping needs and save for retirement. Contact Us for a free consultation and learn how we can help your practice!