“Accounting doesn’t matter…until it matters.” -Chris Sands
So when does accounting matter?
The simple answer is when there’s a significant exchange of money.
It matters if you grew you and made money and have a big tax bill. If you’re buying anything or applying for a loan, accounting matters and the biggest time accounting matters for any independent dental practice owner is when you’re selling your practice.
All too often, accounting gets downplayed an entire career – maybe even ignored – until you get to that point of sale and you are pleasantly surprised, or disappointed.
Understanding your accounting and finances are vital parts of building an Investment Grade PracticeTM and I promise that today we make taxes and accounting exciting!
An Investment Grade Practice should be within the reach of every independent dental practice owner. The finances Chris Sands from ProFi 20/20 joins me for a conversation about finding a financial team that can support you as you build your Investment Grade Practice:
- What you need to know about your accounts
- How to vet a CPA
- The importance of organization
Want to know if you have an Investment Grade Practice? Click here to use the completely free Investment Grade Practice calculator: What’s my IgP Freedom Number?
Want to have a conversation about your Investment Grade PracticeTM? Contact Brent at brent@productivedentist.com.
https://productivedentist.com/podcasts/investment-grade-practices-podcast/episode-72-the-dental-business-accounting-playbook/
The Dental Business Accounting Playbook