Tim Lott-Your Trusted Dental CPA
Tim Lott-Your Trusted Dental CPA
We provide the answers, as well as the practice plans to help you secure your dental goals.
Tim Lott, CPA, CVA

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This is another public service announcement for all the buyers out there looking at practices to purchase. This post will be short & sweet. When a buyer is searching for practices to buy, they contact brokers to check out their listings. There’s nothing wrong with that; it’s a great way to find a...  Read More
In many practice purchase transactions, the sellers will keep their patient accounts receivables (A/R) and the buyer will accept the responsibility to collect them for a period of time at a nominal fee (to help cover their costs) and remit those collections to the seller. While this sounds simple...  Read More
I understand the dental practice broker’s job is to get the highest price they can for their client. As dental-specific CPAs that provide seller representation services, that is our goal as well. Apparently, the main difference is the willingness of some brokers to turn a blind eye to certain...  Read More
When a dentist purchases a dental practice, one of their initial concerns after closing is the short-term & immediate cash flow needs. Generally, most dental practice transaction lenders who dwell in this arena of financing dental practice acquisitions will provide working capital to the buyer in...  Read More
2020 was the year of many gifts from our friendly governments, from free money to very generous tax credits. Granted, many dental practices needed those benefits to maintain steady during the horrible year of COVID, and hopefully, many took advantage of the benefits in which they were entitled. We...  Read More
Whether business owners are in the process of applying for the forgiveness of their first PPP loan, applying for a Round 2 PPP loan, or deciding whether to keep their EIDL loan that matures in 30 years, recent legislation has created opportunities for businesses to achieve maximum PPP forgiveness...  Read More
As a dental practice buyer, you should have the ability to perform proper due diligence on the practice you want to buy. Most brokers/sellers will be very accommodating with the release of information with a properly executed non-disclosure agreement and other minimally invasive assurances to...  Read More
When you are looking to buy a practice, sometimes you may find a seller who sublets their space to another dentist. Maybe that sublet tenant is a general practitioner (GP) or a specialist; does it really matter? Do you care if that sublet practice stays or goes? Well, if they are a GP, I am here to...  Read More
Sometimes you, the associate, are offered an opportunity to buy into the practice in which you have been associating. You may be offered a fifty percent interest in a two-doctor partnership or a thirty-three percent interest in a three-way doctor partnership, etc. We all know that the price the...  Read More
As multiple location owners have risen over the past five to ten years, it was a matter of time before we would start seeing more transactions where the buyers are looking to purchase one of the locations, NOT all of them. While this may not seem like a big deal or add any complexities, it may,...  Read More
Seller Wants to Delay Closing due to PPP2-What Does a Buyer Do?
It's fall 2020, and you have found a practice that checks just about every one of your wish list boxes. You have engaged professionals to assist you with the due diligence, nailed down your lender for the loan, negotiated a new favorable lease with the landlord, and have the closing date nailed...  Read More
Often, when a dental practice seller also owns the real estate, they sell both the practice and the real estate at the same time (or at least that is their desire). At the same time, this ends up being an excellent opportunity for most buyers, that is, to buy real estate and become a real estate...  Read More
With the passage of the CAA in late December 2020 and the talk of additional pending legislation that appears to be heading our way, it will be another crazy income tax preparation season for many CPAs. Until the late December legislation, many CPAs had already been planning how their client’s...  Read More
Employee Retention Credit (ERC) 2020 Planning
In case you have not heard, the Employee Retention Credit (ERC), which was part of the CARES act legislation in March 2020, is back in play for 2020 for an expanded group of employers than the law originally allowed. This past December, Congress passed the CAA legislation which made an interesting...  Read More
Buying a Practice in 2021? Should there be a “Covid Discount”?
As everyone knows, we have had a horrible virus around for over a year now, and while it certainly impacted practice transitions for some time between say March and June 2020, since June 2020 buyers are back in full force looking for a practice to call their own. Almost immediately buyers and...  Read More
This is a very common question we get with certain practice transitions and many believe the answer is easy, NO! Sometimes I’d agree and other times I would flatly disagree. Unfortunately, it depends on what the potential is and who’s selling it. I believe there are two types of potential when it...  Read More
While this has been a very common question for many years it seems to be making a strong return in 2020 due to Covid19. The possibility of lower taxable income for some people who have been laid off or who’s businesses might experience a steep decline in income has generated a renewed interest in...  Read More
Just as the US is starting to re-open from this pandemic so are dental practices across the country. Dental practices are faced with a new set of protocols along with a new set of overhead expenses known as PPE. While many practice owners are processing this new norm and implementing these new...  Read More
That’s the answer we, as CPAs, have to give many times when responding to questions on a forums board or chat groups on many types of questions, whether its income tax-related, practice transition, paying an associate, or staffing issues. It’s no different from PPP loan questions. Sure, there are...  Read More
ORDINARY & NECESSARY This blog is LONG overdue. Over the years and moreso the past two to three years a client asks us about employing their children as models because they heard it from a colleague or at a study club meeting or at a seminar. Many times it’s the seminar speaker, who may even be a...  Read More
Don’t Pay Your Audit Notice Without Consulting your CPA So you receive an audit notice in the mail, its multiple pages and it includes a bunch of information.  You read through the notice and you think, it’s not much money in the grand scheme and the explanation seems legit, so you decide to just...  Read More
Now that we’ve covered the meat and potatoes of my 2018 Townie meeting presentation lets go over some negotiating tips that will be useful in any purchase transaction you may find yourself dealing with. Let’s talk about the purchase price. While the price may not be the most important aspect of...  Read More
Next up we’ll dive into practice mergers. This is a very exciting topic for me because the practice merger is probably one of the BEST investments an existing practice can make with likely the BEST ROI of all practice growth strategies. That’s my opinion anyway. Now, a “merger” is usually seen in...  Read More
In the last blog we talked about the purchase of a “large” practice with multiple doctors and the related issues with those transactions. In this blog we’ll address the “buyin” transaction where the seller isn’t ready to sell 100%, rather they want a buyer who will partner with them by acquiring up...  Read More
Next up I’ll talk about the “non-traditional” general dentistry practice and how you need to approach those situations. What do I mean by “a non-traditional general dentistry practice”? I’m referring to general dentistry practices that have developed somewhat of a specialty niche that they focus on...  Read More
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