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  • May 11, 2020 News

    Comparing some Advantages and Disadvantages of the S Corporation to the LLC

    by Bruce Bryen, CPA, CVA This is a topic that is extremely important to those dentists who may be receiving advice from their dental CPAs or other financial advisors.  Incorrect advice may cost thousands of dollars in tax both on a federal, state and local level. The primary and most significant short and long term effects of the differences of each will be part of this article.  There are many aspects of each that are similar.  Those similarities will not be ad[...]

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  • April 15, 2020 News

    The corona virus and the financial struggles caused by it

    by Bruce Bryen, CPA, CVA Almost all the dental practices in the United States have been advised to close their offices by either their local dental organizations or by the ADA. Additional advice has been to lay people off and to cut expenses to the maximum. Those still maintaining an office presence are doing so with a minimal staff.  The essence of the organizations and financial advisors advice has been to do what it takes to retain as much cash as possible. The money s[...]

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  • April 15, 2020 News

    The Pros and Cons of married or partnered dentists who work together:

    by Bruce Bryen, CPA, CVA This topic is a matter of grave concern for the dentists, the dental practice and   families of those dentists who fit in with the above title.  For the dentists who have been involved with a start up or an acquisition, working together provides considerable positives and negatives for all of those involved with this possibility.  One of the most difficult personnel choices for the dental practice is the hiring of licensed dentists [...]

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  • April 15, 2020 News

    Accounting for goodwill in a transition, divorce or potential partnership transaction

    by Bruce Bryen, CPA, CVA For a dentist who is involved in a transition, divorce or potential ownership position, the accounting for goodwill is of the utmost importance.  It has a tremendous bearing on the reputation of the dental practice. It is also a valuable asset when it comes to determining the tax ramifications of a transition to a potential buyer and to the seller, whether that may be a partnership situation or an outright sale.  During divorce proceedings, t[...]

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  • January 13, 2020 News

    Advice on the Acquisition of a Dental Practice

    by Bruce Bryen, CPA, CVA Advice on acquiring practices that are low gross revenue/ start ups or high grossing:    Which of the above makes the most sense and why? Let’s analyze which of the above scenarios gives the dental practice buyer the best chance for success over the short and long term.   Some will look at a low grossing revenue practice and think that it would be easy to increase the revenue.  Methods to do so may be by increasing the[...]

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  • January 8, 2020 News

    The DSO: Comparing start ups to those operating and successful

    by Bruce Bryen, CPA, CVA The start up DSO from the perspective of owners, the management team and professional employees, has a risk in maintaining an adequate capitalization base in the short term but especially in the long term. A positive line of communication between management and the professional team is a must for the DSO. From a professional dentist’s point of view when the DSO is not funded properly, the ability to have enough supplies on hand, money for payroll and[...]

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  • December 10, 2019 News

    Turn the retirement plan into a transition vehicle

    by Bruce Bryen, CPA, CVA The opportune time to adopt sophisticated retirement plans for tax savings and as an option for the transition of the dental practice: Based on consistently reporting high earnings at the dental practice, it is always the opportune time to adopt a sophisticated employer sponsored qualified retirement plan.  At the end of the dental practice’s fiscal year, the format of the IRS approved deferred compensation plan couldn’t be more appropriat[...]

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  • December 5, 2019 News

    The importance of personal goodwill to the dental practice owner

    by Bruce Bryen, CPA, CVA When thinking of the dental practice and its value to the owner, one of the most important aspects of the worth of the practice is the amount assigned to the intangible asset goodwill.  Besides the emphasis placed on goodwill and its appraisal as an item of significance, the differentiation between personal goodwill and the enterprise (dental practice) goodwill is an extremely critical point to consider.  To define the amount of relevance all[...]

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  • November 19, 2019 News

    Should the dental laboratory buy or lease new equipment and technology?

    by Bruce Bryen, CPA, CVA This paragraph will give input into which approach makes the most sense for the dental laboratory owner as we approach the end of the year, or in fact, any time of the year.  The last part of the year does have certain advantages if no other tax planning has occurred and the extent of the tax burden that will fall upon the owner has suddenly been realized, especially if it is significant. Many states have tax burdens that rely on the federal tax r[...]

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  • November 18, 2019 News

    Knowing the evaluator’s credentials: Don’t send a general business evaluator to prepare a dental practice valuation for any topic unique to dentistry.

    by Bruce Bryen, CPA, CVA It is important for an organization to retain an independent evaluator to prepare a business appraisal for a multitude of reasons.  Various purposes why this valuation may be necessary include the sale of the enterprise, a divorce, an estate planning tool, raising equity capital or any other process that the owner or key participants in the business may need. The independent valuation expert will offer an opinion that is unbiased, honest and will [...]

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