Practice Management

Activity Grouping and the 20% QBI Deduction

For readers who own their office building, we recommended in the April 15th Newsletter the concept of “grouping” or “aggregating” the practice entity and the real estate entity in order to deduct the big real estate depreciation deductions against the practice income. This concept works on steroids with a cost segregation study that front-loads these […]

Restrictive Covenants for Hygienists and Expanded Function Dental Assistants

Expect the non-compete to be held unenforceable. In a recent case in New York, a dermatologist hired a physician’s assistant and required her to sign an employment contract with a two-year and 15-mile restrictive covenant. The relationship fell apart, the P.A. went to work within the 15 miles, and the former employer sued. The court […]

Orthodontists: Look Into Joining the Large Purchasing Group Known as Mari’s List

The company founder, Mari Sawtelle Dunn parlayed her prior career as a lab technician and orthodontic assistant into a huge network of over 90 vendors and 1,400 orthodontists. The initial set-up fee is $400 and there’s a $1,200 annual fee to remain in the group. 97% of the orthodontists renew their membership because their discounts […]

Annual Corporate Minutes

Every state requires that its corporations maintain certain requirements in order to preserve the liability protection granted to the corporate shareholders. This includes drafting annual minutes of the shareholders and directors. If we incorporated your practice (or even if we didn’t) and you would like us to prepare your annual minutes, complete as best you […]

Seller’s Name On The Practice

If the contract for the sale of a doctor’s practice permits the buyer to use the seller’s name for a period of time, the contract should state that the buyer indemnifies the seller for any liabilities or expenses incurred by the seller arising from the use of the name.

Acronym Alert – GPOs Should Take Advantage of the New 20% QBI Tax Deduction We’ve Been Recommending for Self-Created DSOs

You may already be participating in a GPO (group purchasing organization) where you’ve banded together with other individual practitioners to form a new entity that negotiates lower supply and equipment costs.  The member doctors sometimes use the GPO for shared business staffing to cut overhead even further.  If the GPO is a pass through business […]

The Importance of Shorter Practice Broker Agreements

Broker agreements are negotiable.  The standard language will state that the agreement runs for 12 months.  If the broker (or you) finds a buyer during that time, then the broker is eligible for a commission.  In addition, if the sale actually closes during the 12 month period following the end of the agreement, the broker […]

Why $275,000 May Not be the Owner’s Ideal Salary

$275,000 is Your Ideal W-2 Compensation if You Practice Through an S Corporation and Contribute to a Retirement Plan, But You Will Want to Lower It If It Will Help You Qualify for the New Tax Deduction for Pass Through Businesses AND it Won’t Materially Increase Your Staff Contributions to the Retirement Plan: All else […]

Written Employment Contracts

If You Are Hiring (Or Are Becoming) an Associate, a Written Employment Agreement is a Must: We have seen several examples lately of practice owners hiring doctors coming out of their training without having a written employment contract in place. This is a mistake for several reasons, the most important of which is that Dr. […]

Lowering Your Odds of an Insurance Audit

If you are submitting a larger than normal reimbursement claim for patient treatment, the odds go up that the insurer will ask for supporting documentation.  Sometimes the materials being requested are so cumbersome, that you question whether the procedure was even worth doing.   You will reduce the chances of such an audit by preempting it.  […]

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