A new way to plan for retirement

April 19th, 2011

You have a WELL-DEVELOPED PRACTICE and you’re contemplating retirement. But retirement laws have held back minimum funding of a pension plan that would have allowed you to live as you wanted. However, now you can obtain both immediate cash and ongoing, noncash benefits by combining a newly defined benefit pension with an early sale of… read more »

Purchasing a Practice: Getting a Great Value at a Reasonable Price Ensures Success

March 11th, 2011

Is there a difference between price and value when purchasing a practice? Emphatically, YES! Getting a practice at a great price does NOT ensure success, but getting a great value at a reasonable price does. Even the buyers who hire the best transition specialists in the industry confuse the interaction of these concepts. Let’s define… read more »

Communication is the key

January 26th, 2011

Without a doubt, the most important element in the transition process is COMMUNICATION. Communication between the seller and buyer BEFORE the transition. Communication between the seller and staff DURING the transition. Communication between the buyer and staff DURING and AFTER the transition. Communication between the buyer and seller AFTER the transition. Most problems that surface… read more »

Perils for practice transition: Double taxation of goodwill

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 »

Consider the taxes when negotiating a dental practice sale/purchase

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 »

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