As if we haven’t gone through enough legislative change due to the Tax Cuts and Jobs Act (TCJA) tax law overhaul, the President recently signed into law a bill called the SECURE Act, which is the first major overhaul of retirement legislation in more than a decade. The SECURE Act stands for the hokey (yet descriptive) acronym of “Setting Every Community Up for Retirement Enhancement.”
At some stage, business owners are ready to launch and take the next steps to grow their business. In many cases, financing is needed to get to that next level. It’s essential for business owners to have knowledge of the variety of financing options available. For businesses just getting started or those looking to grow, a government-backed loan from the Small Business Administration (SBA) may make the most sense.
Before any tax planning can be properly performed, physicians must have a good understanding of the year-to-date net income for both their medical practice and their personal taxes. This requires having timely financial statements for the medical practice and knowing the estimated taxable income and projected tax liability for their personal situation.
The pace and complexity of managing modern finances may leave some people unprepared to achieve a successful financial future. If you’re feeling less than confident about your future, having a well-prepared financial plan can help put you in control.
In today’s evolving healthcare environment, physicians are seeking to broaden their services to increase revenue and improve the quality of care. This idea of expansion into ancillary services within the healthcare industry is sought as practices are seeing a decline in patient reimbursements and a rise in everyday operational costs.
San Antonio has always been known as a big city with a small-town, friendly atmosphere.
While the summer months are typically synonymous with vacations, this is also the halfway point of the calendar year, and by now, most practices should have a decent feel for how the year is going financially. An up-to-date profit and loss statement with a balance sheet and cash flow...
We hear a lot of discussion about physicians not being able to maintain their independent medical practices because of greatly increased administrative burdens, higher expenses and especially the current trend of lower reimbursements. That same discussion points out that physicians leaving residency will not open new practices, opting instead to join hospital systems.
Dina Petrutsas, CPA
Many physicians may recall years ago when commercial insurance payers paid a percentage above the CMS Allowable, and Medicare was one of their lowest payers. Today, for many small groups and solo physician offices, Medicare is their best payer. This change has caused...
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