If there’s a constant concern we hear from young dentists it’s that they cannot compete with Dental Service Organizations (DSO’s) for available dental practices for sale. The perception is the DSO’s simply go out and overpay for practices, but the truth is that they are very good buyers. So how can an individual dentist be a good buyer:
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Of course you have, because you’re already aware of the need to protect your wealth—after you’ve earned it. But despite all your careful strategizing, you may have overlooked a very important piece of protection. None of these plans or products will protect the source of your wealth—your ability to earn an income. That’s why, in addition to all of the above, every successful person also needs the very best disability income insurance (DI) possible.
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This past week our dental practice managment experts met with 2 prospective clients. Each client complained about how much time that doing their books was taking them. Both admitted they were several months behind in their reporting because there were other more pressing needs in their practice and they just haven’t been able to get around to the accounting. Despite being an accountant, I completely get that. Doing dental practice accounting is … Read more
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If you are a reader of the website Dental Town, threads like this which decry the rise of corporate dentistry are common place. In many industries consolidation of companies has become the norm, but there are lessons to be learned in how corporations buy dental practices that any private buyer can use. Our dental consulting firm has a reputation for selling dental practices, but we also help people buy dental practices almost as … Read more
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The Wisconsin State legislature is considering introducing a bill to create a sales tax holiday. The sales tax holiday would take place over two weekends a year. One holiday would have a focus on back-to-school supplies and a second would focus on energy efficient appliances. Several States have holidays like this and some will make the argument that these holidays are revenue neutral because a person enticed to shop for some of … Read more
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Governor Walker recently floated the idea of eliminating the income tax in the State of Wisconsin. It would be a bold move and one that comes as a bit of a surprise given that the last budget still leaves Wisconsin’s highest income tax rate higher than it was during most of the Doyle administration. It has been said that Wisconsin is a 3-legged stool when it comes to taxes. We collect sales … Read more
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