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 »
Posts Tagged ‘Taxes’
Perils for practice transition: Double taxation of goodwill
Tuesday, January 25th, 2011Proper timing of pre-retirement
Tuesday, August 17th, 2010When I discuss transition planning with clients, they often ask what can be done to ensure their practices sell quickly. My first answer, which they never like, is to reduce the asking price. Alternatively, I suggest they give their office a facelift, similar to the way a realtor “stages” a home. It can be as easy as updating the office… read more »