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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Don’t Pay Your Audit Notice Without Consulting your CPASo 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 some...  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
My past blog talked about non-traditional GP practices and how you should approach them, this blog will talk about the “large practice” GP practices and the various ways you’ll need to deal with them.What do I mean by “large practice”?  The “large practice” is one which usually requires at least...  Read More
Recap from Townie 2018 PresentationBlog #2 talked about those “special” situation practices like the fixer-upper, the recent start-up, the refurbished practice and the vacant space practice. I wanted to share two actual case studies with you, one with the recent start-up and the other with the...  Read More
So my 2014 townie presentation covered the buying process of the typical general dentistry practice, however, what if it’s NOT the typical general dentistry practice? What about the practice that someone started 3-5 years ago that never quite blossomed (the recent start-up)? What about the practice...  Read More
I had the honor of being invited to lecture at the 2018 townie mtg in mid-April in Orlando FL. This was the 4th time they’ve asked me to lecture, and I decided to dive a little deeper into unique situations as it relates to buying a dental practice.My 2014 lecture was an overview of the process,...  Read More
Are you considering buying a dental practice and aren’t sure where to start? In 2014, Naden/Lean Partner Tim Lott presented Part One of a seminar on “Buying a Dental Practice: It’s Not Just About the Price.” In it, he discussed financial due diligence, what information to ask for, how to conduct...  Read More
2018 taxpayers will see many changes related to individual taxes due to the “Tax Cuts and Jobs Act” passed in December 2017. Many of the provisions in the new law expire (sunset) January 1, 2026. The changes affecting most individual taxpayers include:1. The new “simplification law” keeps the same...  Read More
In the summer of 2016, we were engaged by a buyer halfway across the country to assist them in buying a dental practice. The process went well, we provided the typical services during the process that included some aspects of income tax planning like price allocation, entity selection, etc. At that...  Read More
So you’re in the market looking to buy a dental practice, and you’ve seen information from brokers with summary practice information.As you’re looking at the overhead information, you think that some of the OH stats look really low and that must be great, and some look really...  Read More
There’s a great thread on dentaltown.com about why buyers should NOT pay for potential and projections. Part of the discussion revolves around normalizing cash flow, particularly the overhead of the practice. This prompted me to write a blog post to help potential buyers evaluate a...  Read More
We’ve completed the process of compiling our dental practice financial statistics based upon 2014 & 2015 data and the results show very little change compared to five years ago.Remember, the US economy went through a downturn beginning in late 2008 which lasted probably through the...  Read More
We’ve recently seen an uptick in practice purchase/sale transactions involving specialists such as endo, oral surgery, perio, and prostho. Obviously, the vast majority of practice purchase sales we see are general dentistry because the vast majority of practices out there are general...  Read More
I see this question frequently, and occasionally I get asked this question from potential buyers. I see claims made by sellers’ advisors that goodwill should be at least 80% of the total purchase price or worse, they suggest that anything lower than 80% will draw the attention of the IRS....  Read More
I decided to write this blog series mainly because of the pushback we get from sellers’ advisors on some of the information we request when representing the buyer. The second items I’ll discuss are the practice management reports for production by provider by ADA code and production by...  Read More
I decided to write this blog series mainly because of the pushback we get from sellers advisors on some of the information we ask for when representing the buyer. The first item I’ll discuss are W-2s by year along with an employee roster for that year noting positions, average hours worked...  Read More
This is part five and the final part of my five part blog on “What’s most important to YOU when looking to purchase a practice? In case you missed part I, there’s a great thread on ) asking this question and it got a lot of great feedback from people with different perspectives....  Read More
This is part four of my five part blog on “What’s most important to YOU when looking to purchase a practice ? In case you missed part I, there’s a great thread on )asking this question and it got a lot of great feedback from people with different perspectives. As a reminder, I...  Read More
This is part three of my five part blog on “What’s most important to YOU when looking to purchase a practice ? In case you missed part I, there’s a great thread on ) asking this question and it got a lot of great feedback from people with different perspectives. As a reminder, I...  Read More
This as part two of my five part blog on “What’s most important to YOU when looking to purchase a practice ? In case you missed asking this question and it got a lot of great feedback from people with different perspectives. As a reminder, I won’t be telling what SHOULD be...  Read More
What’s Most Important To You When Looking To Purchase A Practice?
My good friend and fellow townie (that’s what we call members of, the forums board) Dr. Tom Bonsack posted a great thread on dentaltown with that question, “What’s most important to YOU when looking to purchase a practice?” It got a lot of great feedback from people with...  Read More
During my many buyer representation engagements I tend to see some common issues when it comes to practice valuations that sellers could have avoided to help maintain their practice values. Here are some of those areas.1. Clean Record Keeping:Remember, buyers and their advisors will be picking over...  Read More
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