Beyond Tax Returns: Strategic Accounting for Dental Practice Owners
Many dentists meet with their accountant only once a year, usually to complete their tax return. However, the right accounting relationship can provide much more than annual tax compliance.
In this video, Julie Parker of Dental Business Mastery speaks with Boris Feldman, Director of BT Corporate Advisory, about taking a more strategic approach to the financial management of a dental practice.
They discuss:
- The difference between deductible and non-deductible debt—and how getting it wrong can cost tens of thousands of dollars each year
- Why loyal bank customers may pay higher interest rates than new customers
- Why succession planning should begin when you first acquire or establish your practice, rather than five years before you plan to sell
- How the wrong business structure can expose a practice owner to significant and unnecessary risk
Boris also shares practical examples from his many years of working with dental professionals and practice owners.
This discussion is valuable for any dental practice owner who wants a second set of eyes on their financial position and a clearer understanding of the decisions that may affect their long-term financial stability.
Prefer to listen?
You can also listen to the discussion below as an audio podcast—a convenient option while travelling, exercising or between appointments.
This interview was originally produced by Julie Parker and Ameena Basile of Dental Business Mastery, which provides coaching and support for dental professionals, teams and practice owners.
To discuss your dental practice business structure or financial position, please contact BT Corporate Advisory.
