A dental practice is most likely a dental owner’s most valuable asset, and the sale of this asset comes with some complex tax consequences. When planning for retirement, you must consider the tax impact of a sale in order to truly understand what you’ll have in your pocket at the closing of a sale. As…
Published by Lauren Holt on June 24, 2022 Work with a Qualified Dental Transition Professional to Realize Your Practice’s Full Value You’ve spent your entire professional career establishing, nurturing and growing an amazing dental practice; but now it’s time to move on and enjoy the fruits of your labor. But before you slap a “For Sale” sign on the curb and walk away,…
Published by Matt Scherer on April 27, 2022 If you dream of establishing your own dental practice, your best bet is to start by compiling a team of professional advisors. Not only should your advisory team be experts in their respective fields, but they should also understand the unique challenges dentistry professionals face every day and the complexities that are associated with dental…
Published by Doug Sellan on March 10, 2022 What you can do now to have a smoother tax filing As we head into another tax season, you’re probably gathering information to give to your dental CPA. Do you have a list that you always use to help remember what to send? Or do you submit a QuickBooks file and let your CPA deal…
Published by Alan Hill on January 28, 2022 Dental Practice Advisory & Transitions Firm Donates Over $2,500 To Charities In 2021 January 27, 2022 | Cleveland, OH — PMA Practice Transitions, a regional practice advisory and transitions firm, announces that it has donated more than $2,500 to six organizations in 2021 for a total of $13,105 since the inception of its “giveback” program;…
Published by Matt Scherer on January 27, 2022 How to get your dental practice ready for another successful year Another year is coming to an end and as you are looking at your business plan for the year to come, promoting your dental practice should be one of your top priorities. How do you promote your practice, gain new patients and maintain current…
Published by Rebecca Weiand on December 17, 2021 As you approach the end of the year, now is a good time to sit down with your partners and advisors to review your dental practice’s financial standing and prepare for the new year. From your most current financial statements, you can compare fluctuations in your practice from year to year as well as provide…
Published by Matt Scherer on November 15, 2021 Are you a recent dental school graduate? Do you have plans to take over an existing dental practice – one with an established client base, ideal location and new equipment? Taking over an existing practice allows you to start your career, in your own right, while utilizing the perks of an established practice. However, taking…
Published by Doug Sellan on September 22, 2021 You’re probably familiar with the term Ransomware and the financial toll it’s been taking on companies worldwide. One lesson that we continue to learn time and time again is that nobody is immune to this cyber threat – not even your dental practice. Instances of cybercrime have reached an all-time high and ensuring that your…
Published by Matt Scherer on August 13, 2021 Anyone who pours their heart and soul into a business over an entire career, building lifelong relationships with those they serve, mastering a skill that can change peoples’ lives, has a hard time facing the thought of ending it for good. The notion of losing a “second family” or “my baby” in any context can…
Published by Matt Scherer on June 29, 2021