Grow Your Dental Practice With A Mentor, OH CPA Firm
Mentor, OH has a healthy dental community. Could you use a little extra help with your dental practice? If so, we recommend contacting a business accounting firm. Did you know that there are Mentor business accounting firms that specialize in the dental industry? These firms can help your practice grow by leaps and bounds. Read below to find out how.
Practice Planning Services For The Dental Industry
One of the best ways to grow your dental practice is through practice planning services. This is one of the many helpful services that a Mentor, OH business accounting firm can provide to the dental industry. This service provides you with targeted strategies toward growth. These strategies include:
- Compensation and bonus allocation design
- Benchmarking services—so that you can see how your practice stacks up against others
- Personnel cost analysis
Each one of these strategies will give you, and your Mentor, OH patients, more reasons to smile.
Dental Practice Valuations
For those looking to sell their Mentor, OH dental practice, a practice valuation is definitely in order. Even if you are not planning to sell your practice anytime soon, it can be helpful to know exactly what it is worth. A business consulting firm, such as Rea & Associates, will be able to provide you with a thorough and accurate dental practice valuation. Think of it as managing your investment portfolio. After all, your dental practice is likely the most valuable asset you have. Rea can also be seen at http://www.brownbook.net/business/41852178/rea-associates.
Dental Tax Services
Every dental practice deals with taxes—it is just one of those facts of life. Luckily, a business accounting firm will be able to provide tax help for your practice. An experienced business accounting firm will actually be able to use your taxes to help you improve your financial standing and overall cash flow. An accounting firm in Mentor, OH will even be able to help your dental practice deal with complicated state and local tax issues. Other tax services that a business accounting firm can provide for your practice include:
- Sales and use tax
- Representation before the IRS (and other tax authorities)
- Individual/corporate tax planning
- Estate/retirement planning
- Design of tax-qualified benefit plans for your Mentor, OH employees
If you feel that your practice would benefit from any of these tax services, then you will definitely want to contact a business accounting firm in your area.
Financial Checkup
Just as you encourage your patients to have a routine dental checkup every six months, a financial checkup is every bit as important. A financial checkup will contribute to your Mentor, OH practice’s financial health. A business consulting firm can provide a financial checkup for your practice. A financial checkup allows you to correct the little financial problems that your practice has, before they become major concerns. Think of it like filling cavities! A financial checkup will include a comprehensive review of your practice’s financial situation, as well as a comparison to industry benchmarks. A financial checkup will also include profit estimation, planning, and maximization. Finally, a financial checkup will include an insurance review. These “procedures” are definitely required, if you want your Mentor, OH practice to be successful.