Accurate, Efficient And Comprehensive Accounting For Dentists In Philadelphia

Besides providing the best dental care to patients, running a successful and  profitable dental practice also requires keeping accurate financial records and maintaining tax compliance. 

A large number of dentists and medical professionals receive very little or absolutely no training in college and medical school on how to run a business or practice.  The lack of business-management knowledge makes it very difficult for dentists and medical professionals to make sound financial decisions.

At A+ Tax Experts, we derive great satisfaction from helping local Philadelphia dentists keep their finances in order. Our accounting services for dentists is an indispensable asset to family dentists, orthodontists, oral surgeons, and other dental professionals in Philadelphia because we have worked with many dental practices to not only help them organize their finances, but also manage everything from bookkeeping and payroll to the complexities involved in filing their annual taxes.

This experience allows us to offer trusted financial advice and accurate accounting for dentists that are best suited to the unique needs of dentists and oral health care businesses.  

We can take over your bookkeeping, manage the cash flow of your business, and deliver up-to-date financial reports that provide a quick and accurate picture of your financial activities. We can also help reduce the tax obligations for your dental practice through tax planning and preparation that ensures you are utilizing all available deductions and tax breaks.

Reputed and Trustworthy accountant for dentists.

Whether you are looking to embark on a new practice, upgrade your dental office equipment, or simply want your practice to run at optimum efficiency, having a trusted and experienced partner in an Accountant in Philadelphia can propel your dental practice to achieve excellence.

Accounting Services for Dentists in Philadelphia

The Philadelphia Dental Accountants at our firm offer specialized accounting solutions for dentists that can help their practice excel financially.

Our dental services include:

  • Accounting services,
  • Budget management,
  • Loan and fiscal resource assistance,
  • Practice purchasing assistance,
  • Financial analysis and optimization, and 
  • Tax planning for dentists.

We have grown our business in Philadelphia by helping dentists grow theirs.

We Help Dentists Choose The Right Type Of Business Entity For Their Practice

If you are a dentist or health care provider in Philadelphia, there are many factors you will have to consider before choosing the type of business entity for your practice.

Some of the most important factors to be considered include: 

  • legal identity,
  • Your personal liability,
  • Control of business decisions, 
  • Tax liability, and 
  • Ability to raise capital.

The right entity structure can legally lower your practice’s tax bill.

  • Sole Proprietorship.

Setting up a sole proprietorship in Philadelphia is the easiest way to do business for dentists and requires very few legal formalities. Dentists must have a license issued by the State Board of Dentistry in Pennsylvania. But this simplicity in setup and operation comes at a price. Dentists who are sole proprietors may have to turn to their personal assets to satisfy debts run up by their practice. 

  • Limited Liability Company (LLC) For Dentists.

The process of setting up a limited liability company or LLC in Pennsylvania changes depending on your status and the type of LLC you want to create. In Pennsylvania, dental professionals and services can’t operate as a regular limited liability company ( LLC) and must form a restricted professional LLC instead. Restricted LLCs are required to file a yearly Certificate of Annual Registration form and pay a fee.

If the mission of your dental practice includes making a positive impact on society or the environment in Pennsylvania, you may want to form a benefit LLC which exists to provide a general public benefit.

There are many inherent risks to practicing dentistry or medicine.  Insurance provides some protection against this risk. The team at A+ Tax Experts helps dentists protect what they have built. We help dentists identify and prioritize their critical operational risks, create risk reducing strategies and develop contingency plans in the event of a financial emergency.

Importance Of Tax Planning For Dentists.

When tax planning is done right, it can assist in building personal wealth. Tax planning is intended to save the practice money earned by dentists as it can significantly impact their retirement and wealth planning.

Tax planning for dentists also ensures  compliance with regulatory laws.  Delegating your tax planning to A+ Tax Experts will give you peace of mind knowing that your dental practice will continue to be in compliance with the latest tax laws.

We limit most of our tax preparation and planning services to those clients for whom we also provide monthly dentist accounting services so that we can deliver the best client experience possible.

Tax, Accounting And Consulting Services for Dentists

At A+ Tax Experts, we understand the questions, concerns, and business decisions that dentists are faced with on a day-to-day basis. Our team has been assisting many dental professionals in Philadelphia at various stages of their careers starting with being a new dentist, building their practices, expanding, tax compliance, repaying their debts, building wealth and ultimately enjoying retirement.

We offer a wide variety of dental practice accounting and tax services that include but are not limited to:

  • Bookkeeping and accounting services,
  • Outsourced accounting and bookkeeping,
  • Financial statements,
  • Strategic tax planning,
  • Business tax preparation,
  • Tax returns for dentists,
  • Payroll services,
  • Retirement planning,
  • Estate planning and management services,
  • Cash flow monitoring
  • Outsourced CFO services, and
  • New business advisory and incorporation.

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If you are looking to start working with a local Dental Accountant In Philadelphia that truly understands the needs of your practice and industry, call A+ Tax Experts today to schedule a free consultation for your dental practice accounting needs.

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