Interview with Randy Curry who is an attorney in Newport Beach, California.  Randy's law practice specializes in helping clients navigate through the claims process in applying for insurance reimbursements when there is a claim on total or residual disability, fire, etc.  Randy and I have done several cases together and navigating through an insurance policy and the language and definitions takes a specialist.

Art’s guest this week is his fellow Dental CPA and registered investment advisor friend Joe Kalinowski from Thomas Doll in Walnut Creek California which is a member of the Academy of Dental CPAs.  Thomas Doll manages over $1 billion in assets for their clients.  Art and Joe will discuss the components of a good financial plan and Joe will explain the details of how a good investment portfolio and plan is put together for a dentist.  

This week Art talks to Joseph Broyles who is a tax controversy attorney whose entire law practice is devoted to helping people who get in trouble with the IRS and other taxing agencies get out of trouble.  Joseph was an IRS Revenue Agent for nine years and knows his way around the IRS and he and Art will discuss installment agreements, offer-in-compromise, what happens if a taxpayer who owes back taxes has to file for bankruptcy, what happens to practice owners who do not pay in payroll taxes on employees payroll and much more.  For anyone who is behind in paying income or other types of taxes this will be very helpful in knowing the rules of the road as it applies to dealing with the IRS.

This week Art will speak with one his firm's long time clients Dr. Jeanette Kern.  Dr. Kern bought a practice in 1995 for less than $100,000 and turned it into a fee-for-service juggernaut which she sold in 2018 for well over $1 million.  Dr. Kern has started her second career journey as a coach for dentists and she has extensive experience in managing a nearly $2 million fee-for-service dental practice and will share her journey as well as tips for what she did to build a great practice and what our listeners can do to do the same. 

Interview with Clint Johnson with Profitable PPO's out of Phoenix, Arizona.  Clint and I will be talking about how PPO's work and the opportunities that dentists who contract with PPO's have to increase their reimbursements and therefore revenues

This weeks episode is an interview with Allen Schiff, the president of the Academy of Dental Certified Public Accountants (ADCPA). Allen is a dental specific CPA in Baltimore, Maryland who is also a Certified Fraud Examiner.  Allen and Art will discuss the various ways that dentists can be embezzled in their dental practices and Allen will talk about systems and procedures that should be established in a dental office to prevent fraud and embezzlement.  Allen has helped his clients for over thirty years set up proper systems and has lectured across the country on this subject. 

Curt and I discussed how to use a cost segregation study to significantly maximize the tax deductions for the construction or purchase of a dental office building or suite as well as how to maximize deductions if you are building out or remodeling your current office suite.  We will also explain the new and more liberal depreciation rules which will also save dentists thousands of dollars in taxes.

In this podcast, we explore all of the things a dentist needs to know about how to approach the negotiation of an office lease including the initial lease and renewals as well as factors in purchasing a dental building or suite. Brian Mills of Carr Healthcare Realty will talk about the different types of leases, how to get top dollar of tenant improvement allowances, pitfalls in leases that dentists have to watch out for and he will discuss the most common mistakes dentists make in negotiating with landlords. 

Art Wiederman is a partner and works in HMWC CPAs & Business Advisors’ division that specializes in serving dental practices, known as Wiederman & Chamberlain. The division’s services include accounting, tax compliance and planning, financial planning, retirement planning, and financial practice management consulting.

Art’s expertise is not only in taxation issues for dentists but also in his knowledge of dental practice metrics and benchmarks. Art has the ability to look at a dentist’s profit and loss statements and practice management reports and identify profit holes in his client’s practice. In addition, Art’s specialties include buy-in and buy-out consulting, practice start-ups, compensation plan development, operation evaluations, and litigation support for dentists.

HMWC CPAs & Business Advisors:

https://www.hmwccpa.com

Academy of Dental CPAs:

http://adcpa.org/