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

3 Ways Startups Benefit from Outsourced Accounting

Posted on Tue, Mar 05, 2019

According to the Small Business Administration (SBA) Office of Advocacy, about 80% of small businesses survive the first year. This seems like a high percentage considering the common belief is that most businesses fail within the first year. About half of those small businesses then reach the five year mark and only one in three makes it to 10 years. When starting a business, it is important to take advantage of every opportunity to help you become successful. Outsourcing your accounting is one way to get the financial portion of your business headed in the right direction from day one.

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Tags: accounting firm, tax planning, outsourced accounting services, start a business, accounting for business

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

When to Hire a CFO

Posted on Thu, May 10, 2018

As your company grows, both in size and revenue, it becomes necessary to have a leader who can manage and think strategically about financial decisions. While CPAs are critical to the success of the organization, they may not have the time to dive in and focus on the financial future of the company. The CFO can add value through a variety of resources and collaboration with business owners.

Here are a few indicators that it is time for you to hire a CFO:
•  The CEO is working more “in” instead of “on” the business
•  Complexity of the business begins to erodes profits
•  Business decisions are hindered by lack of timely financial data
•  An early warning system would have prepared the business for significant up or downturn
•  Cash flow is unexpectedly interrupted due to lack of planning
•  Lead bank is concerned over quality and timeliness of financial reporting
•  An acquisition strategy is included in the business growth plans
•  Company experiences higher than expected tax liabilities due to lack of tax strategy

The resources the CFO provides can only add value to and enhance the strategic direction of the company. 

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Tags: accounting services, outsourced accounting services, accounting solutions, Chief Financial Officer, CFO

The Role of the CFO

Posted on Wed, Mar 28, 2018

Over time, the role of the CFO has evolved from transaction oversight to one of strategic importance. The CFO has become a true business advisor which both business owners and senior leaders rely on.

Typically, the CFO will model the owner and leader’s vision into a financial pro-forma to evaluate whether they can and will make the necessary investments (primarily financial and cultural) to achieve their goals.

Business owners need an in-house counselor, who is invested in the financial future of the company, to aid in decision making. The CFO provides resources needed to help make these decisions and “monetize” the company’s vision.

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Tags: accounting services, outsourced accounting services, accounting solutions, Chief Financial Officer, CFO

3 Benefits Of Outsourced Accounting To Business Owners

Posted on Thu, Mar 19, 2015

Outsourced accounting services offered by CPA firms are designed to offer flexible, scalable, bookkeeping solutions to businesses and institutions of every size.  Whether you are a start-up or an established company, growing your business or sustaining the success of your organization is likely your overall goal.  In order to achieve this, business owners must make sure that they have a strong, reliable accounting function in place.

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Tags: accounting services, CPA firm, CPA, outsourced accounting, professional accounting firm, accountant, Accounting, accounting service, professional accounting services, outsourced accounting services