Accounting Blog

Practice Health Insurance Options: Professional Employer Organizations

Posted on Thu, Apr 11, 2019

Your first question is likely, what is a PEO? Simply, it’s a Professional Employer Organization. That probably doesn’t help your understanding, does it? To define PEOs, we’ve brought in an expert in the industry, Jeff Wanner, to describe the components and advantages further.

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Tags: accounting firm, tax planning, outsourced accounting services, Charlotte dentists

Practice Health Insurance Options: QSEHRA

Posted on Thu, Mar 28, 2019

Historically, small businesses, including dental Practices, have met the need for employee insurance with a traditional group plan or providing an increase in salary to allow employees to purchase their own insurance. With the work of Congress, there is a new option in the marketplace. This option is the qualified small employer health reimbursement arrangement (QSEHRA).

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Tags: accounting firm, tax planning, outsourced accounting services, Charlotte dentists

Practice Health Insurance Options: Association Health Plans

Posted on Thu, Mar 14, 2019

A new rule issued by the Department of Labor in 2018 expanded the availability of association health plans (AHPs) for small businesses. AHPs allow small businesses to band together within industries, professions, or geographic regions to either purchase large-group coverage or self-insure.

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Tags: accounting firm, tax planning, outsourced accounting services, Charlotte dentists

Practice Health Insurance Options: Traditional Group

Posted on Thu, Mar 07, 2019

The traditional choice for most businesses is a group health insurance policy. This business chosen plan provides coverage to employees, and potentially, employees’ dependents. Depending on your Practice size, this traditional option may still be a good fit for you. However, for the majority of single doctor locations, this proves to be prohibitively expensive and is not the right solution. Practices that offer group health insurance pay a fixed premium for the policy, and then, pass on a portion of the premium cost to employees. For example, the employer may pay 50% of the premium and the employee is then responsible for paying 50%.

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Tags: accounting firm, tax planning, outsourced accounting services, Charlotte dentists

Practice Health Insurance Options: Introduction

Posted on Thu, Feb 28, 2019

You don’t have to look far to know that health insurance costs are on the rise. It’s becoming a hot topic for Practice owners and their employees. If you haven’t already been asked by your staff to add health insurance, or why the cost keeps going up, you likely will soon! As a Practice owner, you are faced with trying to juggle employee satisfaction and retention in addition to managing profit margins and cash flow. If you are considering adding health insurance, changing plans, or looking for ways to manage the cost, you can count yourself in a growing group of concerned Practice owners. Health insurance is a valued benefit for your staff and you need to make sure you can offer it at a sustainable cost to your overall margins.

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Tags: accounting firm, tax planning, outsourced accounting services, Charlotte dentists

Why Should You Hire a Dental Specific CPA?

Posted on Tue, Feb 26, 2019

We live in a world of specialization. Whether you are a new dentist entering the market, an established dentist, or considering transitioning out of your Practice, having a dental specific CPA in your corner is the key to success. While a general accountant may be easy to find and work with, having a CPA with deep industry expertise on your side is vital to the success of your Practice. Our dental team is uniquely qualified and ready to support your Practice regardless of what stage you are in. 

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Tags: accounting firm, tax planning, outsourced accounting services, Charlotte dentists

LBAHS Partners with Ceterus for Dental Practice Accounting

Posted on Thu, Feb 21, 2019

We are proud to announce our partnership with accounting technology company, Ceterus. Through this strategic partnership, our firm will be better positioned to provide client accounting services, particularly for our growing client base in the dental industry.

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Tags: outsourced accounting, women dentists, Charlotte dentists

Tax Deductible Expenses for Dental Associates

Posted on Wed, Jan 09, 2019

Are you a 1099 dental associate at one or more Practices and not sure what you can deduct? We have compiled a list of common business expenses you should keep record of in order to offset your contract income. This is not an all encompassing list and we encourage you to ask us about additional expenses if you are unsure.

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Tags: Charlotte dentists, tax deductions, 1099

Dental Practice Lifecycle: Sale of Practice & Retirement

Posted on Mon, Sep 10, 2018

After the start-up and acquisition phase and years of hard work growing your own dental Practice, you may be ready to hang up the gloves and retire but are not sure where to start.

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Tags: accounting firm, Mount Airy, Greensboro CPA, LBA Haynes Strand Capital Advisors, business for sale, Matthews CPA, women dentists, dentists Charlotte, NC, Charlotte dentists

Dental Practice Lifecycle: Growth & Maintenance

Posted on Tue, Aug 21, 2018

After the start-up and acquisition phase is complete and you have a regular patient base established, you’ll find yourself in the growth and maintenance phase.  At this point, you may be wondering how your Practice compares to others in the industry or maybe you’re ambitious and curious about growing into a two-Practice owner (three-Practice, four-Practice or more)!

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Tags: accounting firm, Mount Airy, Greensboro CPA, Matthews CPA, women dentists, dentists Charlotte, NC, Charlotte dentists