Archive for the ‘Taxes’ Category
Tuesday, January 25th, 2011
For most dental practices, goodwill constitutes the largest component of the practice’s value. A mistake in handling goodwill could cost you thousands or even tens of thousands of dollars in unnecessary taxes when you sell your practice. Giving Uncle Sam your hard-earned money in the form of unnecessary taxes is a costly mistake at any… read more »
Tags: C Corp, Corporate Goodwill, Employment Agreement, goodwill, IRS, Personal Goodwill, practice sale, S Corp, Taxation, Taxes
Posted in Selling, Taxes |
Wednesday, December 22nd, 2010
We all know that DEATH AND TAXES are the only two certainties in life. We also know that when you sell a dental practice, chances are you are going to have to pay income taxes on the sale. What may come as a surprise is that the amount of taxes due can vary widely depending… read more »
Tags: deductions, dental practice transitions, goodwill, IRS, selling a dental practice, selling a practice, selling your dental practice, selling your practice, Taxes
Posted in Buying, Selling, Taxes |
Tuesday, November 9th, 2010
For those of you who practice as C-corporations, the sale of your practice results in a double tax; 35% at the corporate level and 15% at the individual level. Since 1998, advisors have relied on several favorable tax court rulings to minimize this double tax by taking the position that your goodwill is personal to… read more »
Tags: Audits, C-Corporation, Co-Ownership Buyout, Corporate Goodwill, IRS, Personal Goodwill, Value Appraisal
Posted in Selling, Taxes |
Monday, January 4th, 2010
A DENTAL PRACTICE TRANSITION requires expertise in many different areas of business and the law. I will narrow my advice as it applies to the U.S. federal income tax laws as they may apply in dental practice transitions. Proper tax planning and preparations in the sale of your dental practice can afford the seller of… read more »
Tags: practice transitions, selling a dental practice, tax attorney's advice, tax planning, tax savings, tax strategies
Posted in Accounting, Legal, Selling, Taxes |
Monday, July 7th, 2008
In order to maintain the best possible relationship between buyer and seller during a practice sale, it’s important to have an intermediary or buffer such as a broker, attorney, or accountant to assist in the negotiation of the sale of the practice assets. Selling a dental practice usually requires some negotiation, and having this intermediary… read more »
Tags: accounts receivable, allocation agreement, negotiation of the practice sale
Posted in Accounting, Buying, Legal, Selling, Taxes |