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Advantages and Disadvantages of Operating as a C Corporation
Mike McAninch is a Practice Integration Advisor with , where he specializes in helping dentists connect their money and their values to realize their most important financial goals.We’ve devoted several articles in recent weeks to evaluating the advantages and disadvantages of selecting certain...  Read More
1231 Mark Johnson, Founder of StudentLoansRx.com : Dentistry Uncensored with Howard Farran
Mark Johnson is the founder of and a wealth advisor with RBF Wealth Advisors in St. Louis, MO.  Mark has been in the financial services industry since 1991.  Mark is a registered investment advisor and is insurance licensed in a number of states.Several years ago, Mark discovered that the...  Read More
Advantages and Disadvantages of Operating as an S Corporation
Tom Bodin, a Practice Integration Advisor with , works with dentists to help them achieve financial freedom through a comprehensive approach to wealth management.This is the second in a series of three articles on business entity selection. In our previous post, my colleague, Katie Collins, CFP®,...  Read More
Advantages and Disadvantages of Operating as a Sole Proprietorship
Katie Collins, a Practice Integration Advisor with , helps dentists order their financial lives and reach financial peace of mind so they can better focus on what truly brings them joy.As you graduate dental school, you typically must think about becoming an associate or purchasing your own...  Read More
Considerations When Running ‘Personal Expenses’ Through Your Practice
Tom Bodin, a Practice Integration Advisor with , works with dentists to help them achieve financial freedom through a comprehensive approach to wealth management.As a small business owner, you have opportunities to deduct expenses for income tax purposes that an employee of a larger organization...  Read More
Major Mistakes to Avoid When Selling a Practice
Tom Bodin, a Practice Integration Advisor with , works with dentists to help them achieve financial freedom through a comprehensive approach to wealth management. Previously, my colleague, Mike McAninch, outlined : going it alone, seeking a win/lose, and agreeing to the wrong sale price. Not...  Read More
Major Mistakes to Avoid When Buying a Practice
, where he specializes in helping dentists connect their money and their values to realize their most important financial goals.The three major mistakes to avoid when buying a practice — going it alone, seeking win/lose and paying too much.Over the past 20 plus years, our Practice Integration Team...  Read More
Selling a Practice: What selling expenses should I expect to pay?
, works with dentists to help them achieve financial freedom through a comprehensive approach to wealth management. After a long and successful clinical career, you are ready to sell your practice. In our last post, my colleague, Katie Collins, laid out the expenses that a buyer should expect to...  Read More
Buying a practice: What expenses should you expect to pay?
, helps dentists order their financial lives and reach financial peace of mind so they can better focus on what truly brings them joy.What an exciting time! You have been looking for a dental practice to purchase and you’ve found it! The location is perfect. The philosophy of the selling dentist is...  Read More
What am I selling when I sell my practice?
, where he specializes in helping dentists connect their money and their values to realize their most important financial goals.In a previous blog, Katie Collins considered the notion of a “fair price” when selling a dental practice. But a deeper dive into the selling price reveals specifically...  Read More
What am I buying when I purchase a practice?
, works with dentists to help them achieve financial freedom through a comprehensive approach to wealth management. In our recent blogs, my colleagues and I have been unpacking the elements of selling a practice. Recently, Mike McAninch took a deep dive into just what it is the seller is selling....  Read More
Selling a practice: What is a fair price?
Katie Collins, a Practice Integration Advisor with , helps dentists order their financial lives and reach financial peace of mind so they can better focus on what truly brings them joy. The time has come. You’ve spoken to your wealth advisor, and they are confident you have reached financial...  Read More
What Is a Living Trust and How Does it Work?
Mike McAninch is a Practice Integration Advisor with , where he specializes in helping dentists connect their money and their values to realize their most important financial goals.Most estate plans include a will that identifies who should receive your assets upon your death. Under most state...  Read More
Establish an Estate Plan Aligned with Your Objectives: What Is Probate and Why Should I Avoid It?
Tom Bodin, a Practice Integration Advisor with , works with dentists to help them achieve financial freedom through a comprehensive approach to wealth management.Throughout the year, my colleagues and I have touched on various strategies for estate planning. With the passage of last year’s tax...  Read More
Coffee Talk: Utilizing the Qualified Business Income Tax Deduction
Mike McAninch is a Practice Integration Advisor with , where he specializes in helping dentists connect their money and their values to realize their most important financial goals.Along with a lower corporate tax rate (21 percent), the Tax Cuts and Jobs Act of 2017 developed a Qualified Business...  Read More
Establish an Estate Plan Aligned with Your Objectives: What Is a Living Will?
Tom Bodin, a Practice Integration Advisor with , works with dentists to help them achieve financial freedom through a comprehensive approach to wealth management.One key element of a comprehensive financial plan is a proper estate plan. While this can feel like a morbid topic, it is the unfortunate...  Read More
What Is a Springing Power of Attorney and Why Do I Need One?
Katie Collins, a Practice Integration Advisor with , helps dentists order their financial lives and reach financial peace of mind so they can better focus on what truly brings them joy.Planning for death or disability isn’t something most clients eagerly check off their to-do list. My husband and I...  Read More
Establish an Estate Plan Aligned with Your Objectives: What Are a Good Estate Plan’s Essential Elements?
Mike McAninch is a Practice Integration Advisor with , where he specializes in helping dentists connect their money and their values to realize their most important financial goals.First, a word of caution. A competent attorney should prepare all estate-planning documents. This is not a...  Read More
Manage Risk Through Proper Insurance Coverage: Is Life Insurance a ‘Good Investment’?
Mike McAninch is a Practice Integration Advisor with , where he specializes in helping dentists connect their money and their values to realize their most important financial goals.From time to time, a dental client will share with me a life insurance illustration from an agent touting the policy’s...  Read More
Design the Best Pension Strategy for Your Cash Flow: What Is a Cash Balance Defined Benefit Plan and How Do I know if One Is Right for Me?
Mike McAninch is a Practice Integration Advisor with , where he specializes in helping dentists connect their money and their values to realize their most important financial goals.Most of us are aware of the 401(k) plan and have some idea of how it works. In short, employees have the option each...  Read More
Dental Practice Transitions: Is Corporate Dentistry Right for Me?
Tom Bodin, a Practice Integration Advisor with , works with dentists to help them achieve financial freedom through a comprehensive approach to wealth management.When talking about transition models, we tend to get a lot of questions about corporate dentistry. The term corporate dentistry is...  Read More
Always Know Where Your Money Goes: Popular Expense-Tracking Tools Today
Tom Bodin, a Practice Integration Advisor with , works with dentists to help them achieve financial freedom through a comprehensive approach to wealth management.In a previous article, I wrote about . Today, we’ll discuss some of the tools you can utilize in tracking practice and personal expenses....  Read More
What Performance Metrics Are Important in Your Annual Plan?
Katie Collins, a Practice Integration Advisor with , helps dentists order their financial lives and reach financial peace of mind so they can better focus on what truly brings them joy.In , my colleague, Mike McAninch, discussed your practice’s annual plan. He encouraged you to start the process of...  Read More
Your Practice Annual Plan: ‘Begin with the End in Mind’
Mike McAninch is a Practice Integration Advisor with , where he specializes in helping dentists connect their money and their values to realize their most important financial goals.Many dental practices carefully prepare annual plans detailing the year’s expected production, collections and...  Read More
Establish an Estate Plan Aligned with Your Objectives
Tom Bodin, a Practice Integration Advisor with , works with dentists to help them achieve financial freedom through a comprehensive approach to wealth management.When I wrote this, proposed tax legislation was making its way through Congress. Part of the legislative package included doubling the...  Read More
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