If you are making good money in your practice but still feel like too much of it is disappearing, your CPA might be part of the problem. A lot of dentists treat taxes like a once-a-year event. You send in your numbers, get your return, write a painful check, and move on.
In our latest episode, I am joined by my CPA, Seth Peabody, to talk about why that is a problem. We dive into what a CPA should actually be doing for you, how to know when you have outgrown the one you are using, and why the difference between tax filing and tax planning can cost you a lot more than you think.
A few signs your tax planning may be weak:
• Your CPA only shows up at filing time
• You do not know what you owe until April
• They are not bringing you tax strategies
• Your income is growing, but not your take-home
Most dentists do not realize how expensive weak tax planning gets as their income grows. If your CPA is not helping you plan ahead to lower your tax burden throughout the year, listen to the episode and see what you might be missing:
P.S. If you want help building a more profitable, more organized practice that is not dependent on you, book a strategy call with us. We will help you identify where to focus first.
