In This Episode
Cybercrime and tax planning are two critical issues for dental practices. In this episode of "The Art of Dental Finance and Management" with Art Wiederman, CPA, Art is joined by dental-focused CPAs Don Watson and Scott Haberman for an in-depth discussion on strategies every practice owner should know.
The trio explores why dentists are prime targets for cybercrime and why income tax planning must be a year-round priority. They share insights on proper recordkeeping, multi-year planning, and leveraging marginal tax rates to optimize financial outcomes.
Listeners will also learn about the impact of recent legislation and four proven ways to reduce tax liability: equipment purchases, qualified retirement plans, employing family members, and acquiring real estate for the practice. Packed with practical tips, this episode is essential for dentists looking to protect their practices and maximize savings.
Show Notes & Resources
- Upcoming Eide Bailly Events
- Eide Bailly's Healthcare Services
- Decisions in Dentistry
- Academy of Dental CPAs
About the Host
Art Wiederman, CPA, Director of Dental Practices | Eide Bailly
Art specializes in serving dental practices. He oversees a variety of services including 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 statements and identify profit holes in their practice.
About the Guests
Don Watson, CPA, Partner | Eide Bailly
Don serves as a partner in the Healthcare Services department, specializing in supporting clients within the dental sector. He provides comprehensive services including tax preparation, financial reporting, and consultation to individuals, corporations, and partnerships affiliated with the dental industry.
Scott Haberman, CPA, Partner | Eide Bailly
Scott works with privately owned companies in healthcare, real estate, manufacturing, and professional services, assisting them with the operational and tax aspects of their business objectives. He has experience working with Fortune 100 companies and is knowledgeable about tax strategies for various business structures.
