You have been saying for the past several years, 3 to 5 more years and then you are going to retire. One option is you could sell your practice to another dentist and help him or her with the transition period but do you know what your practice is worth or how long the transition…
Published by Matthew Scherer on November 29, 2022 The landscape of dental practice ownership has changed over the past 30 years with corporate dentistry being more involved and the sheer demographics of the dental school graduates contemplating staying in their state or pursuing a residency or a specialty. Even the cost of a dental education today compared to a few years ago has…
Published by Matthew Scherer on September 23, 2022 When purchasing an existing dental practice you will probably feel overwhelmed no matter how many times you have been through the process. There are a lot of moving parts and information that needs to come together at the right time in order for the acquisition to be successful. Understanding the process and the time it…
Published by Matthew Scherer on September 22, 2022 The purchase of a dental practice will likely be the largest investment you make in your lifetime. As a buyer, there are some key tax implications you should consider before signing an agreement and taking ownership of your new business. Types of Dental Practice Purchases There are two types of purchases when acquiring a practice…
Published by Matthew Scherer on September 16, 2022 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 Matthew Scherer 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 Matthew 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 Matthew Scherer 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 Matthew Scherer 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 Matthew Scherer on January 27, 2022 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 Matthew Scherer on November 15, 2021