Why Dental CPA Firms are the Best Dental Consulting Firms
Best Dental Consulting Firms
Best Dental Consulting Firms | All types of businesses require accounting and tax consulting services. Businesses can choose to hire in-house accountants or use a CPA firm to outsource the services. It suits some businesses to outsource the accounting and tax services to a professional CPA firm.
One step forward, some businesses need to decide between a CPA firm that comes with industry specialization. Dental CPAs are a prime example of Best Dental Consulting Firms that provide specialized accounting services.
Why Choose a Dental CPA Firm?
A CPA firm’s role is to offer accounting, bookkeeping, and taxation services mainly. So, does it matter if you hire a dental CPA or just any CPA firm? It does.
A dental CPA firm comes with the added advantage of understanding the needs of dental practices. They are the best dental consulting firms for valid reasons. You can choose a CPA to avail accounting and tax consultation services. But that will limit the exposure of the accounting firm to the reconciliation of record books and tax filing only.
Dental CPA Services – Accounting
In short, dental CPA services in accounting head are the basic services that we offer to our clients. Dental practices should expect the highest standard of services from a CPA firm when availing accounting and taxation services.
Let us briefly overview the key accounting services that we offer to our dental CPA clients.
Accounting and Bookkeeping
Outsourced accounting and bookkeeping tasks can help you increase profits by leveraging the benefits of professional services. You’ll witness reduce costs and increased efficiency. We’ll ensure your record books are compliant with GAAP accounting standards.
Accounting Set up
We can help you choose the right accounting software and setup for your accounting and bookkeeping services. Account set up includes bookkeeping write-ups, financial statement templates, accounting records, bank statement reconciliation, and so on.
Accurate accounting records lead to the compliant tax function of any business. Our tax filing and setup services ensure that your dental practice will remain compliant at all times. We take pride in offering specialized tax preparation services that focus on tax management rather than tax evasion or avoidance.
Budgets and Cash Flow Management
Cash flow management is a critical success factor for any business. We help you define budgets that match your organizational needs. We’ll ensure your dental practice maintains higher liquidity and smooth cash flow.
We can help you set up payroll processing and management. Moreover, payroll taxes and contribution plans are important decisions for a dental practice.
Dental CPA Services – Consulting
In addition to the basic accounting and bookkeeping services, a dental CPA offers valuable consulting services.
Here are our top dental CPA consulting services.
Dental Practice Incorporation
Choosing the right entity structure is the foremost and important step in running a successful dental practice. We can help you choose the right entity structure such as a sole proprietorship, partnership, LLC, or corporation.
Furthermore, we take a tailor-made approach towards our clients, as there is no one-fits-all solution with entity structures.
In short, business planning services include strategic decisions. These strategic planning decisions set the tone for your dental practice. We can provide the leadership skills to help you make strategic decisions such as entity structure, debt planning, outsourcing, tax planning, equipment leasing, and so on.
Dental Practice Management
Whether you are setting up a new dental practice or running an existing business, you’ll need an expert opinion on practice management. Thus, a dental CPA can offer tailored advice that directly relates to your industry. For instance, the equipment buy v lease decision can change the practice profitability drastically.
Dental Practice Valuation
Business valuation services can provide an accurate picture of your financial strength. Existing and new business owners often require valuation services to make key decisions. For example, you may need business valuations for a bank loan application.
Dental Practice Transition
Dental practices may go through transition phases for several reasons. For example, when you’re looking for a joint venture with a new partner to expand services. Transition services require experience and skills in transaction advisory services.
Overall, we can pride ourselves on offering key dental practice transition services. These services include buy/sale practice, owner retirement, succession planning, mergers and acquisitions, price brokering, bid preparation, and so on.