The Practice Purchased Podcast

s8e1 - Real Buyer’s Story: Dr. A, part 1

In this episode, Brian is joined by Dr. Dana Fort and Brian Tomono to talk through the story of Dr. A in Arizona. Dr. A’s story is up first because while his is an inspiring journey, the transition itself was pretty smooth, fairly straightforward. This will be a good starting point as we get into less-than-simple transition stories later in the season. Dr. A was producing $2M in an absentee-owned practice—without any ownership stake. In part 1 of this 3-part story, we follow how he found the opportunity, valued the practice, and made an offer that the seller accepted.

In season 8, you’ll hear real stories about real clients of Dental Buyer Advocates. Through those stories, you’ll gain a better understanding of the logistics, the timing, and the potential speed bumps that practice buyers run into. No two deals are the same, but hearing how our team navigated these deals will help prepare you for your own.

 

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s7e10 - 7 Tax Strategies Dentists Should Use

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In this extended episode, Brian and Kingsley run through 7 tax strategies that dentists should know about. What pros and cons do they each have? How much should a dentist expect to save with each one? Wrapping up season 7, they give you the basics and the vocabulary that you need to ask the right questions and the get the most from your bookkeeping, your CPA, and other financial issues.

Learn more about DentalTax here.

 

 

 

s7e9 - Why Is My CPA Such a Pansy?

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Dentists often complain that their CPA is too timid in fighting for the dentist's tax bill, getting that number as low as possible. But is that true? Are CPAs not aggressive enough, generally? Brian and Kingsley bust some myths around some of the stereotypes and misconceptions about CPAs (and validate others). They'll also give some tips for building a strong and respectful relationship with your dental CPA.

Learn more about DentalTax here.

s7e8 - Why You Should Get a Tax Projection Twice a Year

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What is a tax projection, why do you want one, and when should you expect to see one? And...why don't most CPAs do this? And how does it help dentists prepare financially for the coming year? Some of the answers seem obvious, but others aren't. Brian and Kingsley give their takes on tax projections.

Learn more about DentalTax here.

s7e7 - Why Your CPA Should Never Extend Your Tax Returns

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Extending tax returns is a pretty common practice, but in this somewhat controversial episode, Brian and Kingsley tackle the thorny question of why CPA firms sometimes do this, and why they think it's a bad idea for dentists.

Learn more about DentalTax here.

s7e6 - How Much to Pay Yourself As the Owner

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This is maybe the number-one question we get from new dental practice owners—and it's a fair one! In this episode, Brian and Kingsley dive into the issue. What do people actually mean when they ask how much they should pay themselves? They get into the tax implications of paying yourself, and wrap up by giving a good-better-best answer to the question of how much to pay yourself.

Learn more about DentalTax here.

s7e5 - The Ideal Bookkeeping Setup for Dentists

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"What gets measured gets improved," said Stephen Covey. Brian and Kingsley get into some specific bookkeeping tips for dentists. What are the software options? How do you maintain accuracy and compliance? And how do you keep improving your processes?

Learn more about DentalTax here.

s7e4 - Why Your Office Manager Should NOT Be Your Bookkeeper

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What is bookkeeping? Why should you delegate it—and to whom? Brian and Kingsley dive into bookkeeping issues, like the risks of non-professional bookkeeping, the benefits of using a specialist, and some strategies for maintaining a healthy separation of roles within the practice.

Learn more about DentalTax here.

s7e3 - How Much do CPAs Charge? And What Do They Do?

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All CPAs are not created equal. In this episode, Brian and Kingsley break down what you should expect to pay to—and get from—a dental CPA. What are the common fees and services you should expect? What room is there to negotiate? Is paying a CPA a retainer worth the cost?

Learn more about DentalTax here.

s7e2 - Should I Choose a Local or National CPA?

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When looking for a good dental CPA, where do you start? The local accountant down the street, or the big national firm? Brian and Kingsley dig into the question, and their answers will help you think about what will work best for the size and type of dental practice you have.

Learn more about DentalTax here.