On this episode, I’m diving into a lineup of tax topics every dental practice owner—and really, any business owner—needs to know. Let’s start with the buzz around the Beneficial Ownership Information (BOI) report. What is it, why does it matter, and what’s going on with a Texas court ruling it unconstitutional? Spoiler alert: it’s currently in limbo, and we’re breaking down what that means for you. Plus, if you’re a CPA, you’ll be relieved to know that you’re not responsible for the BOI. It really doesn't have to do with taxes.

We’re also taking a closer look at President Trump’s tax changes and their ripple effects across the board. Curious about how pass-through entity taxes work, or what the Alternative Minimum Tax (AMT) really means for you? I’ve got you covered with simple explanations of these complex topics. And for those of you who’ve ever wondered what it would be like to ditch taxes entirely and rely on tariffs instead, I’ll share some thoughts on that bold idea.

But it’s not all theoretical—we’re tackling real-world warnings too. The IRS has issued a strong message about tax scams involving charitable LLCs, and they’re cracking down hard on the people behind these schemes. I’ll explain what you need to watch out for, how to stay clear of these traps, and the serious implications these schemes can have on your finances if you’re not careful.

This episode is packed with insights, practical advice, and the latest tax updates to help you navigate the financial side of your business with confidence. Tune in to get the scoop and ensure you’re staying ahead of the game when it comes to tax compliance and strategy!

What you'll hear in this episode:

[0:40] Understanding the Beneficial Ownership Information (BOI) Report

[2:55] A Texas Court Rules the BOI Unconstitutional

[4:20] CPAs Aren't Responsible for the BOI

[5:25] President Trump's Tax Changes and Their Implications

[6:10] Passthrough Entity Taxes Explained

[7:25] Alternative Minimum Tax Explained

[8:10] Thoughts on Getting Rid of Taxes and Charging Tarrifs

[10:10] IRS Warning: Charitable LLC Tax Scams

[14:20] The IRS is aware of the Tax Schemes and are Working to Find the People Promoting Them

[15:00] Warning to Be Aware of Tax Schemes and the Implications they Can Have on You

Learn more about Tooth and Coin's services: https://www.toothandcoin.com/

Let’s face it—marketing strategies aren't one size fits all, and I’m here to explain why. From the get-go, I break down the unique needs of different practices and why a cookie-cutter approach to marketing just won’t cut it. Then, I dive into the math behind patient lifetime value. Yes, there’s real math behind how much a patient is worth to your practice over time, and understanding this number can revolutionize how you approach your marketing budget.

But that’s just the beginning. I’ll walk you through the stages of the marketing journey and why tracking your efforts is absolutely crucial. Whether you’re a data-driven numbers person or just dipping your toes into metrics, I’ll share the tools and techniques to help you make sense of it all. Speaking of numbers, ever wondered how much you should be spending on marketing? I’ve got you covered with practical formulas and advice to help you figure out a budget that aligns with your practice’s goals and growth.

Timing is everything, and knowing when to evaluate and adjust your marketing strategy can make or break your success. I’ll share insights on when and how to pivot to stay ahead of the game. Finally, I wrap up the episode with actionable tips and final thoughts that you can take back to your team right away. This episode is packed with strategies to help you level up your marketing game and grow your practice with confidence.!

What you'll hear in this episode:

[0:20] Why One Marketing Strategy Doesn't Fit All

[4:15] The Math Behind Patient Lifetime Value

[5:55] Understanding the Marketing Journey

[7:05] Tracking Your Marketing Efforts

[10:55] How Much to Spend on Marketing

[13:15]When to Evaluate and Adjust Your Marketing

[14:50] Final Thoughts and Practical Tips

Learn more about Tooth and Coin's services: https://www.toothandcoin.com/

This week we continue our conversation on the world of investing with Dr. Deren Flesher. Today we share valuable insights on evaluating investments in real estate, oil and gas, and opportunity zones while discussing strategies for maximizing tax benefits and minimizing risk.

In this conversation, we also explore the importance of understanding sales funnels, tax strategies, and the role of CPAs in guiding investment decisions. Dr. Flesher walks us through his personal investment journey and highlights how dentists can take advantage of institutional partnerships and quick opportunities to grow their portfolios. Whether you're looking to diversify or optimize your current investments, this episode provides actionable advice on managing risks and making informed financial decisions.

What you'll hear in this episode:

[0:10] Exploring Alternative Investments in Dentistry

[1:05] Understanding Sales Funnels and Tax Strategies

[2:35] Diversification and Market Risks

[4:15] Institutional Partners and Quick Opportunities

[7:55]Personal Investment Journey and Opportunity Zones

[9:15] Tax Benefits and Long-Term Gains

[14:50] Oil and Gas Investments

[19:35] Role of CPAs in Investment Decisions

[25:15] Connecting and Learning More

Learn more about Legacy Point https://legacypointgroup.com/

Email Deren: [email protected]

Check out the Wealth Beyond the White Coat Podcast https://podcasts.apple.com/us/podcast/wealth-beyond-the-white-coat/id1740607879

Learn more about Tooth and Coin's services: https://www.toothandcoin.com/

Dr. Deren Flesher is back, and together we dive deep into the world of alternative investments and what every savvy dental practice owner needs to know before stepping outside the realm of traditional assets. We kick things off by defining alternative investments and exploring why they’ve become such an intriguing option for those looking to diversify their portfolios. Dr. Deren shares his insights on the challenges of scaling private investments and the potential rewards, like passive income and the tax benefits that come with these strategies.

We also discuss how the Legacy Point Group is making waves with innovative investment strategies designed to help business owners achieve their financial goals. As a CPA, I provide a unique perspective on evaluating investment opportunities, pinpointing potential pitfalls, and categorizing risky investments into four critical categories you don’t want to overlook. Dr. Deren and I also highlight the importance of due diligence and the vetting process necessary to protect your financial future.

Whether you’re curious about dipping your toes into alternative investments or want to ensure your current strategies are rock-solid, this episode is packed with actionable insights. Tune in to discover how to leverage alternative investments to grow your wealth while avoiding the common traps that can derail your success!

What you'll hear in this episode:

[0:15] The Concept of Min-Maxing

[1:30] Passive Income and Public Markets

[2:30] Defining Alternative Investments and Their Tax Benefits

[7:45] A CPA's Perspective on Alternative Investments

[9:00] Evaluating Investment Opportunities

[11:50] Diversification Beyond Stocks

[14:15] Four Categories of Risky Investments

[16:25] Complicated Entity Structures

[22:40] Due Diligence and Vetting Process

Learn more about Legacy Point https://legacypointgroup.com/

Email Deren: [email protected]

Check out the Wealth Beyond the White Coat Podcast: https://podcasts.apple.com/us/podcast/wealth-beyond-the-white-coat/id1740607879

Learn more about Tooth and Coin's services: https://www.toothandcoin.com/

Join me as I sit down with Dr. Deren Flesher, an entrepreneur and dental professional whose journey is nothing short of inspiring. From crypto conversations to entrepreneurial highs and lows, Dr. Darren shares his candid insights on navigating business challenges and finding the right people to grow alongside you.

We get real about the lessons learned from failure and how to turn setbacks into valuable stepping stones. With multiple ventures on his plate, Dr. Darren talks about the art of balancing it all without losing focus on what truly matters. We also tackle hiring and training strategies, offering practical advice for building a dream team that aligns with your vision. And for those considering business partnerships, this episode dives into the essentials: trust, shared goals, and mutual respect.

Whether you're a dental professional, an entrepreneur, or just someone looking for actionable tips to level up, this episode is packed with wisdom and inspiration. Tune in for an engaging conversation that will leave you motivated to take your business—and life—to the next level.

What you'll hear in this episode:

[0:50] Crypto Conversations

[2:20] Challenges and Success in Business

[4:35] Finding the Right People

[6:00] Overcoming Failures and Learning

[12:25] Balancing Multiple Ventures

[15:00] Hiring and Training Strategies

[17:40] Partnering in Business

Learn more about Legacy Point https://legacypointgroup.com/

Email Deren [email protected]

Check out the Wealth Beyond the White Coat Podcast https://podcasts.apple.com/us/podcast/wealth-beyond-the-white-coat/id1740607879

Learn more about Tooth and Coin's services: https://www.toothandcoin.com/

In this episode, I’m diving deep into the world of team management and sharing actionable strategies to elevate your leadership game as a dental practice owner. Leadership isn’t all sunshine and smooth sailing. I’m pulling back the curtain on the reality of what it takes to lead effectively. From crafting a compelling vision, mission, and core values that align your team to setting and communicating goals and expectations that leave no room for confusion, we’re covering it all.

We’ll explore the crucial role accountability plays in creating a thriving team culture and how to implement it without feeling like the “bad guy.” Plus, I’ll break down effective bonus structures that motivate your team while keeping your practice’s financial health in check. Understanding each team member’s role and ensuring everyone knows how they contribute to the bigger picture is the foundation of success—and I’ll give you the tools to make it happen.

Whether you’re struggling to manage your team or just looking for ways to level up your leadership skills, this episode is packed with insights you can’t afford to miss. Tune in now and discover how to build a motivated, aligned, and high-performing team that drives your practice forward!

What you'll hear in this episode:

[0:30] The Reality of Leadership

[1:55] Vision, Mission, and Core Values

[6:30] Setting and Communicating Expectations

[8:25] The Importance of Connecting the Dots

[12:23] The Importance of Accountability

[16:10] Effective Bonus Structures

[24:00] Understanding Team Roles

Learn more about Tooth and Coin's services: https://www.toothandcoin.com/

I’m diving into a game-changing topic for dental practice owners: understanding capacity in a way that elevates efficiency and profit. I’m breaking down the three essential modes of capacity—physical space, time, and people—and how each impacts your practice's ability to grow and serve more patients. Let’s start with the physical space component: the impact of the amount of space in your building. Next, we’ll explore the impact of the time component on your capacity.
 

Then there’s the people component—one of the most crucial aspects of capacity. I’ll explain why having the right staff and optimizing their roles can make or break the success of your practice. It’s not just about filling positions; it’s about understanding how each role contributes to your overall capacity. We’ll talk about the critical task of tracking active patients, using doctor-side metrics to evaluate productivity, and how to keep a close eye on financial and scheduling metrics that drive growth. This episode isn’t just a capacity check—it’s a blueprint for building a practice that’s primed for scalable success. Tune in to learn how these strategies can take your practice to the next level!
 

What you'll hear in this episode:

[1:20] Three Modes of Capacity: Physical Space, Time, and People

[10:20] The Average Startup Practice

[13:05] Tracking Active Patients

[24:55] Financial and Scheduling Metrics
 

Learn more about Tooth and Coin's services: https://www.toothandcoin.com/

We're pulling back the curtain on some of the most common financial oversimplifications that can hurt dental practices—ones that might surprise you! These seemingly small mistakes add up fast and can impact profitability and overall growth. We’ll also break down how to determine if it's the right time to bring on an assistant by analyzing your new patient flow, booking timeline, operatory capacity, and patient base. These are factors that can make or break your daily operations—if not managed well. I'll guide you on how to keep a pulse on these areas to ensure that your practice runs like a well-oiled machine.

So many practices fall into the trap of relying on generic benchmarks that don’t account for the unique aspects of their business—I'll explain why following these can sometimes do more harm than good, and what you should do instead. We’ll discuss why having a solid financial strategy is essential and how to avoid falling for quick-fix advice that won’t serve your long-term goals.

What you'll hear in this episode:

[0:25] Three Costly Oversimplifications in Dental Practices

[2:30] The 100K Means Hire Rule

[5:50] New Patient Flow as a Factor in Determining if You Need To Hire an Assistant

[7:15] Understanding the Booking Timeline

[07:45] Understanding Operatory Capacity

[08:30] Understanding Patient Base

[11:55] The Benchmark Trap

[15:50] The Fake CFO Phenomenon

Learn more about Tooth and Coin's services: https://www.toothandcoin.com/

Throughout this episode, we'll discuss the crucial lessons learned from Timmy's experience in the financial multiverse, focusing on the importance of making informed decisions and understanding the long-term implications of your financial partnerships. We'll explore Timmy's initial relationship with his traditional CPA, a decision rooted in familiarity but fraught with challenges. As we enter "Universe One," we’ll uncover the pitfalls of sticking with a conventional CPA firm, highlighting the limitations that many dental professionals face in navigating their financial landscapes.

Next, we venture into "Universe Two," where Timmy is drawn to the charismatic yet questionable Slick Steve, who promises to simplify the tax maze. Timmy's concerns about Steve's flashy promises and the true cost of his services are pivotal moments in our story. As we peel back the layers, we’ll reveal Steve's true identity and how it contrasts with his charming façade. Despite some initial successes, Timmy soon grapples with growing doubts as the dreaded audit nightmare descends upon him. Lastly, we explore "Universe 3," where Timmy finds his greatest advantage: a dental-specific CPA firm.

What you'll hear in this episode:

[00:20] The Tale of Timmy the Dentist Begins

[01:55] Universe One: Sticking with the Old CPA

[04:10] Challenges with a Traditional CPA Firm

[09:05] Universe Two: The Lure of Slick Steve

[11:05] Navigating the Tax Maze

[14:05] Timmy's Initial Success and Growing Doubts

[16:05] The Audit Nightmare Begins

[17:30] Timmy's Realization and Consequences

[18:30] Lessons Learned and Final Thoughts

Learn more about Tooth and Coin's services: https://www.toothandcoin.com/

If you’re a new practice owner, brace yourself for the potential tax shock that can come from unexpected expenses and obligations. Today I’ll break down tax estimates and projections to help you navigate the numbers more confidently. I’ll walk you through various scenarios that different practice owners face, from startups to acquired practices. I also highlight the unique tax implications that come with each.

Established practices aren’t off the hook either—there are plenty of tax surprises waiting around the corner. Together, we’ll explore strategies for navigating these challenges, ensuring you’re well-prepared. Finding the right tax professional is crucial, so I’ll share tips on spotting legitimate experts in dental taxation and the key credentials to look for. Experience matters, especially when it comes to working with dentists, so we’ll discuss what to prioritize when choosing your tax advisor.

I’ll emphasize the importance of being wary of professionals who might push investments without a solid strategy. You won’t want to miss the real-world examples of tax strategy scams and the high fees that often serve as a red flag. Finally, we’ll delve into comprehensive tax planning approaches, focusing on the modern strategies that ensure consistency in your tax planning efforts.

What you'll hear in this episode:

[1:45] Breaking Down Tax Estimates and Projections

[4:05] Tax Considerations for Acquired Practices

[5:20] Tax Surprises for Established Practices

[7:55] Navigating Tax Strategies

[9:40] Spotting Legitimate Tax Professionals

[11:00] Identifying True Experts in Dental Taxation

[12:40] Beware of Investment Pushing

[14:35] Red Flags

[15:25] Comprehensive Tax Planning Approaches

[18:05] The Modern Approach to Tax Planning

[19:35] Consistency in Tax Planning

Learn more about Tooth and Coin's services: https://www.toothandcoin.com/