Accounting Services for Doctors:
As a medical processional, you face the daily stress of lower reimbursements, constraints of the Affordable Care Act, tax penalties for the “wealthy”, and a variety of financial decisions such as:
- Should I incorporate my business or use an LLC? Or something else?
- How can I mitigate my high taxes – legally, but to my optimal benefit?
- Are my assets adequately protected? Are there other steps I should be taking?
You’re already overloaded with paperwork and worries about the requirements of the ACA, HIPPA, and Medicare. You probably don’t enjoy spending your precious free time studying a complex tax code, reviewing business contracts, and handling bookkeeping for your practice, but you may not know where to start or who to trust. This is where we can help.
TAX PLANNING & COMPLIANCE
There is a lot at stake when it comes to tax. Here are a few areas we examine that could have a major impact on reducing your tax burden:
- Continuous research and analysis of opportunities to maximize federal and state tax credits
- State and Local Tax (SALT) exposure
- Cost capitalization issues
- Compensation strategies: wages, distributions, or a combination of the two
- Income leveling: lower tax brackets through leveling
- Integration with owners’ and/or executives’ personal tax situations
- We stay on top of emerging trends and the frequent changes, extensions and revisions to tax code to make sure you are minimizing your tax liability.
PROFIT ENHANCEMENT SOLUTIONS
- Profitability analysis, including evaluation of store footprint, inventory, supply chains, business processes and labor
- Financial forecasts and projections
- Technology risk assessments
- Governance, risk and compliance
- Data analytics and fraud prevention
- ERP & financial package selection and implementation
- Cost segregation studies