This checklist breaks it down with important steps you can you follow and build on as you work through your own bookkeeping each month and year. We have a different checklist for the end of the year when closing the books for the CPA to take over. We download and organize all month-end bookkeeping related documents for our dental practices into Dropbox folders for each client. We chose Dropbox because it’s HIPAA safe and easy for clients and their CPA’s to access so you will see me referring to Dropbox.

They can provide all the dental practice accounting services you need at a much lower cost, including strategic tax planning, new business advisory, and tax preparation. This notice is required by law to tell you how Delta Dental, VSP and Unum and its affiliates protect the confidentiality of your health care information in our possession. Protected Health Information dental bookkeeping (PHI) is defined as any individually identifiable information regarding a patient’s healthcare history; mental or physical condition; or treatment. Delta Dental, VSP and Unum receives, uses and discloses your PHI to administer your benefit plan or as permitted or required by law. Any other disclosure of your PHI without your authorization is prohibited.

2024 Tax Planning Guide

Bookkeeping is a chore – some might actually enjoy it, but others might view it as something they’d rather hand off. However, if dental accounting is viewed as a chore by dentists, it happens to be WCG’s chosen profession. Also, dentistry like other medical professions doesn’t allow for a remote work or work from home. In other words, Monday through Thursday and some Fridays, you need to maximize your utility. Sure, you could use the weekend to maintain your financial records… but you should spend that offline time to build your practice and relax.

• You will need to e-sign an engagement prior to us working, but we can part ways at any time.
• I’m always surprised at the number of times I am asked this question.
• Our dental bookkeeping specialists have been working in the dental industry for a number years.
• Let us guide you through your requirements so you can focus on running your business.
• Do you find yourself spending too much time worrying about payroll tax obligations and making sure your team gets paid on time?
• At Casey Moss Tax, we provide a tailored experience to dentists and oral healthcare practices, helping you minimize your tax obligations and improve your bottom line every year.

For most small businesses, your business income directly ties into your personal tax return. Understanding flow-through income and planning for your personal tax obligations is critical for healthcare professionals. Accounting is more specialized, and picks up where bookkeeping leaves off.

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Even though the dentist may not do the bookkeeping, as a business owner, it’s imperative that he at least understands the accounting process for his practice. Generally speaking, some business owners have a fairly good pulse on where their money is going. On the other hand, business owners and specifically dentists are focused on providing quality services to their patients and the formal financial aspects of the practice are secondary. We, the dentist CPA, provide financial statements and supporting analysis. Doeren Mayhew CPAs and advisors is a certified public accounting firm serving businesses nationwide from offices in Florida, Michigan, North Carolina and Texas. Combining a deeply rooted history with a progressive mindset, the firm offers insight into the business, oversight to ensure best practices and foresight for what’s ahead.