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Bruce Bryen, CPA, CVA
Bruce Bryen is a certified public accountant with over 40 years of experience and is a part of RKG Tax & Business Services LLP, an affiliate or Robin Kramer & Green, with offices in Marlton, New Jersey and Fort Washington, Pa. He specializes in deferred compensation, such as retirement planning design; income and estate tax planning; determination of the proper organizational business structure; asset protection and structuring loan packages for presentation to financial institutions. He is experienced in providing litigation support services to dentists with Valuation and Expert Witness testimony in matrimonial and partnership dispute cases. He is also a financial writer for several dental journals. You may contact him at 215-641-8300 ext 123 or at [email protected], or through www.Bryen-BryenLLP.com.
How to keep dental practice disputes under control

No one wants to be involved in a dispute that disrupts the normal flow of business to the dental practice. Disputes harm dentists financially and emotionally and cause turmoil within the practice among employees, owners and patients.

Growth through acquisition

Now that you have your team in place, your next step is to find the dental practice. There are practices for sale throughout the country but the pricing is now increasing due to a number of factors such as the economy and the fact that dental practices are very stable financially so that dentists are not selling as readily as in the past. Many dentists have lost considerable money in their retirement plans and also can not afford to retire for that reason as well since their savings have been depleted.

Independent contractor vs. employee

The status of an individual working for someone can be that of an independent contractor or an  employee. Sometimes, businesses hire other businesses to perform services and at times, the term “outsourcing” is used. This term describes the transfer of responsibility to others for the performance of the service in question.  It limits the responsibility to the business needing the service and shifts its responsibility to others and away from the enterprise in question needing the service to be completed.

Transitions in today's marketplace

With the economy in the state that it has been and little end in sight to the economic downturn, many dentists have been unable to sell their dental practices under terms similar to what those dentists in the past had been able to do. There was a day when the sale price was paid in full at the settlement table and there were no other segments attached to the transaction.

Financial planning for 2010

As 2009 was ending, many dentists were getting calls or were initiating them to their accountants or other financial advisors. Everyone was in a panic, requesting last minute assistance with what may be owed on their federal and state tax obligations for 2009. Others were speaking with their investment advisors hoping to find out what gains or losses they were going to be reporting on their 2009 tax returns and whether or not it was too late to change the results and path of their portfolios.

Retirement plan dollars for you

Many dentists know there are different types of retirement plans available for their dental practices but have been stymied with the contribution levels allocated to the owner or key employees compared to amounts available for the employees.

Transitions through earn out provisions

In many cases, the sale of a dental practice is similar to the sale of a personal residence. Sellers sometimes feel that their practice is worth more to them than the market will pay. This is a similar situation involving the emotions in the sale of a home which will cause the value to be more to the seller than to potential buyers. These same feelings can reflect a higher transition listing price than what the practice will bring.

Stay on top of tax changes

Changes in Reporting S Corporation Earnings

It may have been too good to last. Even though there were many pitfalls regarding the S corporation and how earnings were reported after the dentist’s W-2 compensation, many still used that type of business entity because of the savings in payroll taxes not charged to the dividend portion of the S corporation’s earnings that flowed through to the owners.

A little harder these days

Financing in today’s economic environment is incredibly more difficult than before the current financial meltdown. In the past, a reasonable credit score, a passable amount of income and a good concept, such as buying a dental practice, would guarantee a dentist the ability to secure financing at a competitive interest rate with a fair term for the repayment schedule.