The Hidden Risks of Meme Coins: Why Dentists Should Steer ClearIn today’s digital world, the lure of easy money has led many investors—including dentists—toward highly speculative assets like meme coins. These cryptocurrencies, often inspired by internet jokes and viral trends, can experience dramatic price spikes. But before you dive in, it’s crucial to understand the significant risks involved. At PracticeCFO, our mission is to help […]
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Understanding the New 401(k) Automatic Enrollment Rules for Dental Practice OwnersRetirement planning just got a major overhaul, and dental practice owners need to take note. With the passage of the SECURE 2.0 Act, new regulations will soon require automatic enrollment in 401(k) and 403(b) plans for many businesses, including dental practices. Understanding these new rules, the penalties for non-compliance, and the available exemptions is crucial […]
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Leveraging Multisided Platforms for Buying and Selling Dental PracticesIn the unique world of dental practice ownership, buying or selling a dental practice can be a significant milestone in a dentist's career. Whether you are a seasoned practitioner looking to expand your practice or a dentist contemplating retirement, the process of buying or selling a dental practice can be complex and daunting. However, with […]
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Team Thrive Takes on Boston!What a blast we had at the Yankee Dental Conference! Your friends at Team Thrive packed up and brought PracticeCFO over to the east coast, where we got to share with the community just how exactly we help dentists thrive financially. In addition to exhibiting, Wes also presented two great courses on dental financial education. The first was The Dental Practice Purchase: […]
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Starting 2024 Strong with a Dental CFOWelcome to 2024! In the world of dental finance, this time of year is an important mile marker. And as a dentist, now more than ever is it a good time to step back and make sure that your CPA is taking proactive measures to start you off strong. How is this done? By staying ahead of the curve […]
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Beware of Dental Impersonation Scams: A Dentist's Tale of DeceitIn today's interconnected world, scams and online frauds have become increasingly sophisticated and prevalent. The dental industry is no exception to this deceit. We share the story of a dentist we personally know here at PracticeCFO, who ended up being the target of this very crime. Read on to hear their experience and learn valuable insights on […]
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Fighting the Fraud: Breaking Down the ERC MoratoriumEffective 9.14.23, the IRS has announced an immediate halt to the processing of new ERC filings. This moratorium has been put in place to help the IRS better target fraudulent ERC filings, which have risen to alarming rates since the program's inception. With a stronger focus on compliance, this moratorium is intended to 1) track down […]
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Items to Consider When Entertaining a DSO SaleMany dentists are receiving proposals from DSOs to purchase their practice. These proposals are more complicated than a traditional practice sale. On surface, they generally look very appealing. However, there are various factors to consider when determining if the proposal is, in reality, a good one (or not). These factors include: At this year's annual Dykema Conference, DSO […]
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They're Back: Student Loan Payments Resume & Interest AccruesAfter a three-year pause on federal student loan payments, September 1st marked the first significant step toward restarting the process: borrowers will once again see interest accrue on their loan balances. The milestone comes one month ahead of the next major date for millions of American borrowers: October 1st, when most payments will resume. Here’s what […]
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New Podcast! The Evolution of Deal Structures in the DSO SpaceWe’ve seen a consistent trend toward consolidation in the dental space for the last 15 years. But coming out of the pandemic, the DSO marketplace is changing. And if you’re thinking about selling your practice to a Dental Service Organization, it’s useful to understand the different deal structures available to you. So, how are DSO […]
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