• October 30, 2017 News

    Retirement plans and some innovative ideas for the lab owner(s) that can come from them

    By Bruce Bryen, CPA, CVA Examples with some “out of the box thinking”: As one works hard to develop a profitable lab with a stellar reputation, plans emerge about employee retention, profitability and retirement as the owner ages. Good financial advisors will have suggested that the enterprise adopt some type of employer sponsored qualified retirement plan as the business grows and employee stability becomes increasingly important to the dental professionals’ relationships[...]

  • October 16, 2017 News

    Selling a practice and the necessary due diligence for preparation of the agreements

    By Bruce Bryen, CPA, CVA What documents must be available to have a successful transition involving the advisors?  Sometime after the negotiations have taken place between each party to the transition, there needs to be a memorialization of the terms and conditions of the transaction so that a successful closing may occur. Unless an excellent brokerage house is involved that may have a template of the underlying agreements available, an attorney is typically retained to prepar[...]

  • August 3, 2017 News

    Debt Strategy: Good for Business Growth

    How the use of debt can create a path for success by Bruce Bryen, CPA, CVA   The common thought process about taking on business debt is that if an investment purchase cannot pay for itself immediately then borrowing the money to pay for it is not a good idea. However, the astute businessperson understands the difference between good debt and bad debt. Going to a lender and requesting funds to buy or lease sophisticated equipment that increases productivity and brings [...]

  • June 23, 2017 News

    How the use of debt can create success in the lab

    by Bruce Bryen, CPA, CVA   What good is debt? Why use it for one’s business?   In explanations to owners of dental labs about the use of debt, there are typically two thought processes that take place in the discussion. One concept is that if the acquisition of an expensive piece of equipment can not be paid for now, it is not appropriate to purchase it since borrowing money is not a good idea.  A business person who wants his or her enterprise to grow knows that the[...]

  • March 14, 2017 News

    Dentists and their understanding of professional fees

    by Bruce Bryen, CPA, CVA   You get what you pay for  Dentistry is one of the last professions to have litigation. When there is litigation, it is primarily between the dentist and a colleague.  A poorly worded employment agreement, partnership agreement or option of some kind for an acquisition is the typical source of a lawsuit.  It is rarely from a patient.  Because of the infrequent lawsuits, the dentist is normally not inclined to pay a lot for the type of advice[...]

  • February 6, 2017 News

    Transitions into ownership for the dentist’s associate.

    by Bruce Bryen, CPA, CVA   How much does it cost?  How many times does a dentist’s advisor discuss the need for support for his or her own protection against illness, death or disability? Is the conversation about a partnership or acquisition status? Besides a negative approach as the thoughts in the first sentence, it is also a smart way to the eventual exit strategy for the experienced dentist.  Who better to acquire the practice than a professional who alread[...]

  • January 30, 2017 News

    How to generate more buyers for practice transitions

    by Bruce Bryen, CPA, CVA   Practice brokers and other sales people Any dentist ready to transition his or her practice wants to have every potential buyer available. The highest price and best terms are what the dentist is probably thinking.  What needs to occur to put the practice in position for the sale?  Is the dentist receiving expert advice in pricing and how to receive the most efficient net proceeds?  What does “most efficient net proceeds,” mean?  Is[...]

  • January 23, 2017 News

    Age, Experience, Income, Debt Service and Retirement

    by Bruce Bryen   Maybe you are a recent graduate from dental school or have been working as an associate. You may have acquired your own practice and wonder about what to do with your debt.  Either of these scenarios probably entails having obligations to pay for education.  Those owning a dental practice, or considering an acquisition face not only educational debt but also loans used for its transition.  That office will be used as the base generating the income fo[...]

  • January 9, 2017 News

    Small Business Sponsored Health Reimbursement Accounts Revisited

    For tax years beginning after December 31, 2016, qualified employer health reimbursement arrangements (QSEHRAs) are not treated as group health plans for purposes of the group health plan requirements provided by the Patient Protection and Affordable Care Act (ACA). Therefore, for plan years starting after 2016, small employers may adopt QSEHRAs to reimburse employees for the cost of premiums for individual and family health coverage without being subject to an excise tax for fail[...]

  • December 19, 2016 News

    2017 Standard Mileage Rates for Business, Medical, and Moving Announced

    On December 13, 2016, the Internal Revenue Service issued the 2017 optional standard mileage rates used to calculate the costs of operating an automobile for business, medical or moving expenses. These rates are effective January 1, 2017. 53.5 cents per mile for business miles driven, down from 54 cents for 2016 17 cents per mile driven for medical or moving purposes, down from 19 cents for 2016 14 cents per mile driven in service of charitable organizations Taxpayer[...]

  • November 30, 2016 News

    2016 Year-End Tax Planning

    Dear Clients: Although tax planning is a 12-month activity, yearend is traditionally the time to review tax strategies from the past and to revise them for the future. Yearend has also become a time when there is an increasing need to take a careful look at what’s changed within the tax law itself since the beginning of the year. Opportunities and pitfalls within these recent changes – as they impact each taxpayer’s unique situation—should not be overlooked. This is par[...]

  • November 29, 2016 News

    What You Need to Know about NJ Tax Law Changes

    By Laurie J. Vitullo, CPA   The New Jersey and Pennsylvania Reciprocal Tax Agreement- The 38 year old agreement where tax is withheld where you live as opposed to where you work remains in effect. New Jersey does not collect income taxes from people living in Pennsylvania and working in New Jersey. And in return, Pennsylvania doesn't collect income taxes from people living in New Jersey and working in Pennsylvania. Instead, Pennsylvania residents report and pay tax o[...]

  • October 17, 2016 News

    Dental litigation and damage claims: Would you be ready?

    By Bruce Bryen   Have you ever been sued? Were you ready for the challenges of being sued and the disruption to your practice? Here's what can happen, and here's how to avoid the whole thing.   When does the litigation stop?   Any dentist who has been involved with litigation knows the time and costs that can be incurred with attorneys, accountants, expert reports, and testimony. Depositions, discovery and presentation of supporting documents, and revi[...]

  • October 7, 2016 News

    Transitions including employment agreements

    By Bruce Bryen, CPA, CVA   Selling a dental practice and the need to continue employment           Dental 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. The approach to increasing the gross revenue and net income of the dental practice in the transition includes quite a few factors. Among these are working ad[...]

  • August 30, 2016 News

    What dentists need to know about dual representation involving divorce valuations

    By Bruce Bryen, CPA, CVA A dental practice evaluation is much different than that of a non-professional business such as a manufacturing company. Our expert explains. One of the most economical approaches for divorce for the dentist is to try mediation to finalize the decision about the determination of value for his or her dental practice. This is also a similar method to economize for the spouse as well. Since it is rare for a dentist to be involved with a court and law[...]

  • July 6, 2016 News

    5 things you need to know about divorce, goodwill and dental practice valuation

    By Bruce Bryen, CPA, CVA   Knowing about goodwill and the necessary attributes for the dentist's practice valuation can be critical in a divorce. What is goodwill and how important is it when preparing a practice valuation for the purpose of divorce? A quick paraphrase summary of goodwill is as follows: It is that intangible asset that provides the cash flow to the dental practice creating the revenue stream used to provide the net income and value for the owner a[...]

  • June 6, 2016 News

    Final DOL Overtime Rules Released

    On May 18th, 2016, the US Department of Labor (DOL) released a final rule that radically increases the thresholds for overtime rules, expanding the number of employees eligible for overtime pay. Under the Fair Labor Standards Act (FLSA) employees who work more than 40 hours in a week are entitled to overtime pay, unless they meet the requirements of certain wage and duties tests thereby making them exempt from the overtime and minimum wage rules. These rules apply to employees who[...]

  • June 3, 2016 News

    Sell Your Dental Practice Successfully

    By Bruce Bryen, CPA, CVA   If you have decided to sell your dental practice, you should consider a few essentials to protect yourself. Being prepared for your sale should be your first step to avoid a low transition price and a painstakingly drawn-out transaction. Also important is knowing whether you are ready financially and emotionally to undertake the process. Work With a Financial Adviser Planning means meeting with a financial adviser, preferably a dental C[...]

  • May 31, 2016 News

    Pretax and After Tax Transitions: A Comparison

    By Bruce Bryen, CPA, CVA   Selling a dental practice is one of the most important transactions in a dentist’s career. The taxes incurred by the buyer and seller can affect their living standards forever. I have spent hours explaining the taxes my clients (buyer or seller) will incur based on the allocation of the purchase price and the funds received. Let’s examine the buyer’s side of the acquisition. The Buyer’s Cost Using an After Tax Transition Learnin[...]

  • May 31, 2016 News

    Dental Practice Transitions and Earn Outs

    By Bruce Bryen, CPA, CVA   There are too many times when a practice transition does not occur because the buyer and the seller can’t agree on the dental practice transition price. Even the best practice broker gets stymied and frustrated when the buyer and seller are close to an agreeable price and the last hypothetical $20,000, or an amount less than a few percentage points difference, keeps the transaction from occurring. Sometimes a creative approach is needed t[...]

  • May 26, 2016 News

    The need for advisory services for the dentist

    By Bruce Bryen, CPA, CVA   In many of the cases in which this author has been consulted, there is an after-the-fact approach that must be taken because of an absence of advisory services prior to the engagement. Dentists sometimes will attempt to save the penny when the dollar is at stake. Dentists should remember how they treat their patients. If little or nothing has been done on a preventive basis and the patient has gone to a friend with little experience, you[...]

  • May 26, 2016 News

    Relying on outdated dental practice valuations

    When to find out the value of your dental practice—and when to sell. By Bruce Bryen, CPA, CVA   It is difficult to convince a dental professional to retain an expert and then suggest that the dentist pay for the preparation of a practice valuation. Many practice transition brokers tell the dentist that they will produce a valuation for free. The experience is troublesome since many dentists think they know the value of their practice and shouldn’t have to pay someo[...]

  • March 15, 2016 News

    Pretax transitions and the dental practice: Complex strategies for huge savings

    By Bruce Bryen, CPA, CVA Many buyers don’t realize how expensive it is for them to acquire the dental practice from a tax perspective. The author explains why. In explaining a pretax transition, it is important to understand that there are really two types of dental practice transitions. One is known as an after tax transition and the other is the pretax transition. Many buyers don’t realize how expensive it is for them to acquire the dental practice from a tax perspectiv[...]

  • February 3, 2016 News

    New Year & New Rules for Small Employers Health Reimbursement Plans

    New Year & New Rules for Small Employers Health Reimbursement Plans With the start of 2016, it is imperative to review current IRS rules for employers who reimburse employees for the cost of individual health coverage. Employer group health plans must abide by a number of rules, including the market reform rules adopted by the Affordable Care Act. The transition relief offered to small employers by the IRS for 2014 through June 30, 2015 is no longer available. Employers wit[...]

  • January 1, 2015 News

    ROBIN KRAMER & GREEN, LLP and BRYEN & BRYEN, LLP Announce Affiliation

    (Fort Washington, PA January 8, 2015) – Effective January 1, 2015, the long standing firm of Bryen & Bryen, LLP has been integrated into RKG Tax & Business Services, an affiliate of Robin Kramer & Green, LLP. The union brings Bryen & Bryen owners Bruce Bryen and Marion Hunt aboard the Robin Kramer & Green family as principals of RKG Tax & Business Services. The new entity will continue to operate out of Bryen & Bryen's existing offices in Marlton, NJ.[...]

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