Money

3 things dentists need to know about year-end purchases
3 things dentists need to know about year-end purchasesWith year-end approaching it is time for dentists to think about making equipment and technology purchases if they want to expense (depreciate) those assets on their 2016 tax return. While the rules for depreciating equipment have changed dramatically, one thing remains constant. Equipment must be “placed into service” before any depreciation may be taken.
Dental practice transitions including employment agreements
Dental practice transitions including employment agreementsDental practice transitions many times include a seller who wants to discontinue working as a dentist and a buyer who feels that he or she can dramatically improve the bottom line of the retiring dentist.
Should your staff understand your dental practice's financials?
Should your staff understand your dental practice's financials?Should your staff understand your practice’s financials? The short answer is yes. How can your team appreciate the effects of their actions unless they do?
The biggest mistakes dentists make: Not having a tax-based estate plan
The biggest mistakes dentists make: Not having a tax-based estate planOne of the biggest mistakes in the realm of personal financial management is not having an estate plan created by an expert in estate tax.
5 best practices for fee schedules in the dental practice
5 best practices for fee schedules in the dental practiceInsurance experts Teresa Duncan and Bridget Fay break down the things you need to know about insurance in the dental practice.
What dentists need to know about dual representation involving divorce valuations
What dentists need to know about dual representation involving divorce valuationsSince it is rare for a dentist to be involved with a court and lawsuit, the unknown time, effort and cost of such a disposition of value in the hands of attorneys, experts and a judge is almost surely something that the dentist is not aware.
The hidden danger of the gray market
The hidden danger of the gray marketDigital Esthetics magazine explores the shadowy world of the gray market, where people can buy unverified dental products for cheap—and possibly endanger patients in the process.
4 ways you may be wasting your dental consulting dollars
4 ways you may be wasting your dental consulting dollarsHiring a consultant is not cheap, so to get your money’s worth, there are several pitfalls you should be sure to avoid.
5 ways to manage seasonality trends in the dental practice
5 ways to manage seasonality trends in the dental practiceSeasonality trends are something most dentists experience, and deciding how your practice will deal with the highs and lows is important to keeping your practice healthy. Here are five tips on how to manage seasonality in your practice.
The biggest mistakes dentists make: Lending money to family members
The biggest mistakes dentists make: Lending money to family membersPeople have been lending money to family members since money was invented. Relatives may lend funds to help start a business, pay for education or alleviate an emergency situation. Unfortunately, in my experience at Levin Group, many dentists have experienced financial setbacks and emotional stress after lending to family members who couldn’t pay them back.