There aren’t many hiding places for your money today. We earn money, but the tax man just keeps coming from Federal, State, and Local levels.When you’re running a practice, the Department of Labor, ERISA, and the IRS have given us a few tax management investment tools to defer the money before the tax man can get to it. You might be familiar with some of these plans, but there’s one in particular that caught us by surprise.In this episode, you’ll learn from financial advisor, Brian J. Edwards...

Hide Your Money from the Tax Man

Most dentists fail to plan ahead for the sale of their practice. By not preparing for this inevitable event, they miss out on thousands of dollars, limit their transition options, and burden their loved ones with uncertainty about the future. On Long in the Tooth podcast, we share non-clinical insights to help you prepare for the sale today so you can maximize your profitability and peace of mind tomorrow. For all the hard work you’ve put into building your practice, we believe you, your family, and your staff deserve to transition after the sale into an even richer and more rewarding season of life. Subscribe today and tune in on Fridays to glean new insights. This podcast is hosted by Randon Jenson & Marie Chatterley of CTC Associates. It was founded by Bob Brooks, CBI, CEPA of Practice Endeavors.

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As 2022 wraps up (and so does Season 2 of this podcast), we’ve seen some clear trends that are hurting dentists and their practices as they get ready to sell. We want to help you transition into an even richer and more rewarding season of life. So, here is our top 10 list of things you can do to prepare yourself and your practice(s) for a successful transition:Define your expectationsDefine your timelineIdentify the right successorInvolve your staff in the processSave for retirementSpruc...

10 things dentists can do to prepare for a transition

What separates the dentists that struggle from the ones that thrive? What are the common characteristics of a successful dental practice owner?There are some common keys to success as a dental practice owner. It can be summarized as a mindset that focuses on the "3 Rs" – Relationships, Reputation, and Referrals.If you don’t understand these 3 Rs, it can mean financial struggle for you and your practice. But if you build these 3 Rs into your mindset, you can take a practice that is doing poorl...

The "3 Rs" to a successful dental practice owner

Should I sell accounts receivable with the practice? Should I buy accounts receivable with the practice? Or should I exclude them and keep them?We get this question a lot from both practice buyers and sellers.In this episode, transition specialist, Randon Jenson, discusses the 3 options covering both the advantages and the disadvantages of each so you can decide which is best for you.Randon Jenson has helped hundreds of dentists with the sale of their practice. For more guidance on transition...

3 options for handling Accounts Receivable in a transition

It’s a hot topic today. Dental Service Organizations (DSOs) are aggressively marketing to practice owners, soliciting interest in acquiring their practices. Typically, they’ll catch you with a really high number. A number so high you’d be foolish to ignore it. But what’s included in their “incredible” offers? Is it the right decision for you?There are some trends that are cause for concern. So before you sign anything, listen to this episode to understand the three common elements i...

Evaluating DSO offers: Tips for practice owners

When you buy a practice, guess what? Now, you’re a business owner. The problem is, not alot of education happens on the business side of dentistry. Unless you got an MBA in addition to your dental degree (if you have both, we salute you), you could be on the path to unnecessary anxiety and frustration by jumping in too quickly.In this episode, Marney Andes shares some advice her father taught her - “You can do anything you want as long as you know the rules of the game.”By spending more time ...

Hide Your Money from the Tax Man

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