Making a Plan That Improves Your Bottom Line

In our April E-Newsletter, we outline how we can help you make a plan that will improve your bottom line. Additionally, you will find tips and tools to make this tax season a little more enjoyable.

The new tax law most likely will not improve your bottom line, however, a common-sense plan will.

We have been assisting many medical practices with their tax and financial needs and we can’t help but notice the state of financial practices within many of my new medical clients which motivated me to write this letter.

We almost religiously upgrade our lifestyles – technology, cars, homes, etc. Why do we upgrade? We do it because of status, better functionality, faster service and modern design. What about your practice?

Are your finance strategies effective and are they appropriate to your current structure and needs? As most physicians, you probably have the same CPA for 10 plus years and there is absolutely nothing wrong with that. We choose our trusted advisors such as accountants, lawyers and financial planners carefully and we build trust and loyalty over time that translates into a long-term relationship.

As the famous Heraclitus quote suggests – “the only thing that is constant is change”. Our life situations change, our business models change and our needs change. With that, consulting services need to adapt as well.

In today’s world, the CPA profession has evolved from a stereo-typical “bean-counter” to a tactical force in many company’s strategic planning and business decisions. The times are long gone when a CPA’s role was only to insure you are compliant, your bills are paid, your receivables are collected and your payroll is processed timely. Today’s CPA has extensive knowledge of business processes and provides assistance on your practice’s performance, succession planning and tax strategies for you as a business owner.

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