Increase Your Confidence As A Dental Practice Leader | Dental CPAs

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The varying nature of confidence can be exemplified as a business leader because of the stressful nature of leading a dental practice. Confidence can grow with a conscientious effort. Our dental accountants have come up with a few ways to increase your confidence in the dental practice, leading to a more positive work environment. 

Consistency is Key

Rapidly changing methods and ideas can prevent a business leader from feeling confident. The business should work for the practice leader, not the other way around.

Gaining a sense of consistency and stability with schedules, rules, and realistic  expectations can lead to an increase in confidence that the practice will run smoothly.

Know and understand the key parts of the dental office, important dates, and the function of each role. You can only become confident in your business operations when you fully grasp the nature of the entire business.

Stay True To Yourself

Being afraid to say what you think can be viewed as a lack of confidence. Speaking your mind, while still having a professional filter, can build confidence as it shows you are part of a team and contributing. Being yourself will also get rid of any notion that team members might have that you are not being a genuine person. Openness and authenticity will not only strengthen your bond with your team, but are also essential traits for effective leadership.

Be Open to Criticism

Change cannot come from one person alone, and not all criticism should be seen as an attack against you. Listen to feedback from team members and customers and tailor that feedback into something positive. Do not let the criticism fester and destroy your confidence. Take it and use it to grow.  Accepting constructive criticism and negative comments can help increase your confidence.

Know What You Are Talking About

Fully understanding what you are talking about can help improve your confidence. If you are a dental practice leader, strive to know everything you can about the office and its operations. If you are speaking about a topic, research everything you can about that topic. Become the expert. You will be better positioned to demonstrate confidence when it is clear that you are invested in what you are discussing.

Confidence can not only make or break your career, it can impact the dental practice as a whole. Contact our dental accounting firm for a dental practice evaluation and analysis to make sure you are working at your full potential.

Signs That It Is Time To Hire A Dental Accountant | Dental Accountant Near Me

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How do you know when it is absolutely time to hire a dental accountant? Occasionally there are certain tasks that you are able to do on your own, but these tasks may be very time consuming. When you are busy with clinical work, it is easy to overlook certain things or make financial mistakes. Here are a few signs that confirm you need to contact ADCPA:

  1. You earn over $200,000 per year– Your odds of being audited once you start earning over $200,000 a year increase to nearly 4%. While this may not seem like a large number, it’s actually an increase of over 300%. Having your financials in order in case this does occur is vitally important once you become a high-earner.
  2. You are a business owner or are self-employed– Utilizing the services of an accounting professional is vitally important for any business owner or entrepreneur. Tax laws change annually. The current US tax code has over 7 million words in it. Making sure that all of your deductions are included, your assets are depreciating properly, and that you are maximizing your tax savings will wind up saving you money in the long run.
  3. You are setting money aside for others– When putting money aside for your children, grandchildren, or anyone you want to take care of, it’s very important to use a financial professional to decide which vehicles to use for tax-deferred or tax-free savings. This includes college savings plans or trusts.
  4. You are incurring large capital gains tax– The key to success in paying big  capital gains tax is paying at long-term rates. An accountant can help you with a Qualified Small Business Tax Credit, can help minimize your taxes, and can help you set long-term payment goals.
  5. You are experiencing rapid growth in your business– Not only is keeping your finances up-to-date time consuming, it’s also complicated. When you’re experiencing rapid growth, it’s time to call in an accounting professional. Having more customers, team members, and vendors is going to require more paperwork and number crunching and can rapidly become impossible for you to keep up with. 

Contact our team of professional dental CPAs today if any of these signs apply to you and your dental practice. We can help you organize the financial aspect of your practice.

Tips For Your New Dental Career | Dental Accountants

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Starting your new dental career can be one of the most exciting (and nerve-wracking) times of your life. Whether you are starting your own practice from scratch or joining one that is already established, there are several important aspects to keep in mind.

Our Academy of Dental CPAs has compiled a quick guide that will help you manage your priorities as a new dentist with confidence and ease.

  1.  Protect Your Work-Life Balance– While you might be used to a heavy schedule during your years in school, don’t let yourself burn out. You deserve a healthy work-life balance. By setting boundaries and following them, you can enjoy your time with friends, family, or hobbies without feeling overwhelmed by your work schedule.
  2. Know Your Strengths – Your practice should center on two things: what you are compassionate about, and what you are incredible at. Don’t pursue a specialty just to appeal to your community if it isn’t something you are excited about. Focusing on your strengths will bring you more satisfaction in your work as well as higher quality to your service.
  3. Manage Your Debt– Dental school graduates usually have a significant trail of student debt following them. Whether you refinance, make extra payments, or choose an alternate repayment plan, focus on reducing your balance instead of simply paying off the interest. Don’t forget to contribute early to your retirement fund, either. The best time to start saving was yesterday.
  4. Successful Practice Management– A dental practice is a business, and a business needs a strong leader. Dental schools don’t typically prepare you for the financial and leadership elements of your career, so don’t be afraid to seek coaches or consultants. With the right mentor, both you and your practice can succeed.
  5. Continue Your Education– The last advice you want to hear as a new dentist is ‘more schooling,’ but it’s true. Once you have settled in, you should look for new opportunities to hone your skills. There exists a world of workshops, lectures, and courses that can further your passion in dentistry, bring you confidence in your work, and improve the value of your practice.

With the right mindset and plan, you can build yourself up as a new dentist, achieving your leadership and financial goals. If you are considering starting your own practice, our dental CPAs will be the resource you need to secure your future in success. Contact our dental accounting firm today to schedule a consultation.

The Achievement of Financial Freedom | Academy of Dental CPAs

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It’s no secret that, as a dental practice owner, you take on a great deal of responsibility and overwhelming  financial stress. Here in our office, one of our main goals is to help you achieve financial freedom so that you can completely focus on leadership and business growth. The following tips shared by Academy of Dental CPAs will help you create a more solid foundation for your dental practice and help you along in your financial journey.

Organization is key. It is important to make sure that you always have systems in place. This will ensure that no details are missed and that everyone has a protocol to follow. Disorganization can quickly lead to unhappy customers, and ultimately, the downfall of a business. Efficient organization can also help bring opportunities for improvement to your attention.

Dream big.  Your dental practice will only be as successful as you envision it to be. Set clear goals with deadlines to use as a ruler for your success. Goals will help with financial decisions that present themselves. By setting goals with clear expectations, you will be able to assess how small decisions can have a true impact on your practice in the future. It will help you define a clear path toward your financial freedom.

Always have a plan. Without both short-term and long-term financial plans in place, you will be setting yourself up to fail. How will new earnings be allocated; how much will go toward savings? Are you budgeting for new purchases? Where will money come from if business gets slow?  If you don’t already have the answers to these questions, this is a great place to start. Planning for the unexpected helps to ensure that your dental practice will survive surprise expenses.

Make wise financial decisions. When starting a dental practice, it is inevitable that you will acquire some strategic debt. The key to success in the business will be an analysis of your return on investment. Don’t make big purchases without a thorough analysis of the value that it will bring to your practice.

If you need help creating a plan or making a financial decision, our dental CPAS available to help. Our goal is to put you on the path toward financial freedom. We want to help take some of the financial stress away so that you can focus on your community, patients, and business growth. Contact our dental accounting firm today for a business consultation.

Burnout Within the Dental Practice | Dental CPA Near Me

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Dentistry can be an overwhelming and stressful career, to the point where it can actually affect your productivity. Dental burnout is common among both dentists and their teams. Learn how to recognize the signs of burnout and how to manage it before it begins to significantly impact you and your dental practice.

Identify Signs of Dental Burnout

Feeling bored, tired, or finding it hard to concentrate are all signs that you are beginning to burn out. You may also notice that your team is beginning to lack the signs of enthusiasm that they once displayed. As soon as you begin to notice these things occurring, it is important to take action immediately. Don’t allow a temporary period of burnout to negate the countless hours of work and money that you put into your education and career. Instead, begin to look for ways to peak your interest again.

Identify the Problem Areas

When production numbers begin to take a dip, identify the area that is being affected. A dental CPA can help you analyze your numbers to see where things are falling. When the production numbers in the practice start to fall, team morale can be greatly affected. By identifying these areas promptly, things can be adjusted or fixed before the dissatisfaction in the office increases to a point of no return.

Identify New Areas to Explore

Learning a new skill or attending a convention/seminar are ways to bring excitement back into the workplace. Sign up for a CE course on a subject that interests you. Join a local study club to meet new peers. By expanding your skills, you can increase the number of services you provide which can help bring in new patients or boost production. To get the team involved, select a course that everyone can participate in or look into team building activities. This will greatly help improve team morale.

Burnout will most likely happen to everyone at some point during their career. Being proactive and identifying signs of burnout early on is the best way to get you and your team back on track. If you feel you may be experiencing burnout, contact our Academy of Dental CPAs to help determine areas of opportunity that are available in your practice.

5 Common Dental Payroll Mistakes | Dental CPA

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Handling payroll for a dental office can be more complicated than many people think. There are many minor errors that can lead to major payroll mistakes. One of the best things that you can do is train your team to catch these errors before they become bigger issues. Our dental accountants have listed the five most common payroll mistakes that can be easily avoided.

  1. Paying employees the wrong rates

Immediately after a team member is hired, given a raise, or there is any kind of adjustment in pay, make sure that the pay is correctly logged into your system. Using an hourly wage to pay as salary in a program can create rounding errors. Always be sure to double check the pay rates. Manual error can lead to owing back-pay, among other future issues.

  1.  Not tracking bonuses or gifts

Bonuses or gifts that have monetary value need to be closely tracked. Gifts like a gift card or Apple watch are often overlooked. Please be sure to keep a log of gifts and bonuses for year-end/tax purposes.

  1. Estimated recordkeeping

Don’t procrastinate on logging shifts worked for a pay period. Days can often blend together and the longer that you wait, the harder that it is to recall which days team members worked, left early, etc. Having to go back and review notes and e-mails regarding shifts can be time consuming and stressful, and can lead to incorrect pay.

  1. Holidays or haphazard payroll

Make an effort to set a fixed schedule for payroll. Have a plan for dealing with holidays that affect the normal payroll schedule. Missing or late payroll can cost your business in the long run by incurring penalties or creating tax headaches. It can also make it harder for team members that depend on the money.

  1. Misclassification of Employees

There are a number of differences between an employee and a contractor on both the state and federal levels. Make sure you classify your team members and any temporary team members correctly to ensure an accurate and smooth process. Misclassifying an employee can cost you heavy penalties.

Payroll can be an uncomplicated process if the correct protocols are followed. Follow a strict system, don’t procrastinate, and fix any mistakes as soon as possible. Contact our dental accounting firm with any questions or concerns in regards to payroll and taxes.

4 Ways to Increase Patient Flow | Dental Accountants

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Marketing is at the heart of most business growth, but it is only the beginning. Even the best outreach efforts won’t advance your dental practice unless you can convert new leads into active patients. 

There are many reasons outside of your control that might stop someone from scheduling an appointment; however, make sure you are taking all possible measures to ensure they book with you and follow through.

Here are four ways recommends by our dental accountants to help your team more effectively sell the value of your service to potential new patients:

Be available and responsive: As a dental professional, you know what it’s like to be busy. Your patients have busy lives of their own, so it’s important that your team is available to take calls as they come in and that you strive to offer flexible appointment times to accommodate the workweek.

Offer a friendly and welcoming environment: As you well know, some people suffer from dental anxiety. Work to overcome this discomfort quickly by communicating in a warm, affirming and caring attitude with your marketing, over the phone, and in person.

Make sure your team greets patients by their name and gets to know them. Ask patients during each step of a procedure how they are feeling. Offer sedation dentistry if you do not already. 

Don’t hard-sell a service: While you are expected to tout the benefits of the treatments you offer, patients are often turned off by pushy approaches, especially for elective procedures. Take the time to get to know each patient’s needs, treatment goals, and budget. Make them feel valued and understood, and you will increase the likelihood of treatment plan acceptance.

Master the art of the follow-up: Repetition is one of the easiest techniques for cementing something into memory. If a potential new patient reaches out to your office, be sure to follow up if you don’t hear from them again. You never know the reason they didn’t call back; taking that extra step can offer a second chance to make a connection and help your practice stand out in their mind.Many dentists struggle to think about their practice as a business. It is likely that you chose dentistry because of a desire to serve and heal and did not think about sales and bookkeeping. Our dental CPA firm understands this so we offer ideas on tax savings, practice growth, and how to boost new patient numbers.

Contact our dental accounting firm today and see what kind of difference we can make for you!

Laughter in the Workplace is No Joke | Academy of Dental CPAs

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Healthcare is a serious business fraught with stress and experts are now touting the value of levity in breaking the tension found in the workplace. Books and courses about injecting humor into business are springing up, including a Stanford Business School course for executives called, “Humor: Serious Business.”  

Scientific studies have shown that joking and laughter relieve tension, boost the immune system, and relax the muscles. Laughing can increase memory, energy and creativity, as well as elevate mood. It can knit teams together and create a psychological safe haven.

While the addition of humor to the workplace does not remove deadlines or reduce performance expectations, it can help create a more enjoyable work life. Additionally, laughing can increase memory, energy, creativity, and elevate the mood.

Any office can benefit from these effects, so why not consider adding some lighthearted moments to your team’s day?

Here are a few suggestions from our dental accountants to help inject humor into your workdays. 

  • Try sharing a tasteful, work-appropriate joke with your team to start the morning huddle and invite them to bring their own. 
  • Post a board in a shared space and challenge everyone to bring a funny quote, image, or comic strip to hang. 
  • Put on a silly shirt day once a month, decorate the office for a holiday, and allow holiday dress-ups during Halloween or holidays like Valentine’s Day. 
  • Take funny photos or videos of you and your team and share them on social media. 

Keep your humor on-brand and non-offensive to all. 

If using outright humor doesn’t feel right to you, think about its cousin, levity. This is simply an elevation of mood that feels calming and light. Finding moments to share a laugh can invigorate the culture of your office.

There will always be pressure to attract new patients, increase productivity, and handle emergencies as they arise. Consider adding fun into your daily routing when the time is right. It should put everyone at ease and make the serious work of dentistry more enjoyable for both your team members and patients alike.

Far from making your practice look frivolous, experts say humor inspires confidence and loyalty. If you can make your patients smile, they will remember how you made them feel and will be more likely to stay with you.

A happy team leads to a successful practice. Let our accounting team help you along the way with guidance, insight, and our custom-tailored financial services. Contact our dental accounting firm today to see what we can do for you!

Dental Practices and Human Resources: Frequently Asked Questions | Dental Accountant Near Me

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Whether you manage your practice’s human resources or oversee a practice manager, you are responsible as a business owner for ensuring your policies are appropriate, legal, and fair. Few practice owners are trained in HR, but some level of knowledge is important for the viability of your practice.

Here are a few commonly asked questions from our dental accountants regarding aspects of human resources for dental practice owners.

What questions should I avoid during interviews?

There are a few basic, even common questions that are never appropriate for an interview setting. Some of these include:

  • What is your marital status?
  • Do you have children?
  • What is the origin of your (unusual) name? 

While such questions seem like natural ice-breakers, they are illegal. They can lead to the sharing of information about protected class status such as disability, family status, ethnic or religious heritage, sexual orientation, and others.

Even if their answers would have no bearing on your decision, these questions can leave you open to a complaint if the position is not offered. You should always keep questions business-related.

What should I do if an employee refuses to sign a disciplinary action form?

If this happens, bring a witness into the room, and note the refusal to sign. Have the witness sign confirmation that the disciplinary action form was provided to the employee. Remind the employee that refusal to sign does not negate the disciplinary action and further infractions will lead to more serious consequences.

We use software to track employee hours and the program has a function to automatically deduct meal times so employees do not need to manually clock in and out. Should we use this function?

Before you decide to use an automatic system of this type, consider the time saved by not manually entering hours. Then compare it to the time lost by entering corrections if a team member misses lunch, returns early, or runs late.

If your office rarely deviates from schedule, this might be beneficial. However, if you find that you are making corrections more than once or twice a week, this function could cost more time than it saves.

Understanding the nuances of human resources is an important part of building a strong practice. As bookkeepers, tax preparers, and valuable advisors to dental practices, we can also help you create a profitable operation. Contact our dental accounting firm today for a free initial consultation.

7 Goal-Setting Strategies for Your Dental Practice | Dental CPAs


Have you defined goals for your practice? Planning and achieving milestones provides a sense of personal satisfaction, inspiration to others, and often, greater profitability. Whether you want to double your patient flow, open a second office, or become a key opinion leader (KOL), your goals can be attainable if you create a strategy and work towards them systematically.

Here are seven strategies for goal-setting for our dental CPA organization:

Define your objectives: If you only have a big-picture idea of what your goal looks like and a fuzzy vision of how to achieve it, stop and reassess. Start with the “why,” and progress to the “how.”

Sketch or write it out, measure it, and break it down into steps. Ambitious plans are only successful if you create a detailed map to reach them.

Take it one step at a time: It can be easy to focus on all the effort required to reach a goal and quickly become overwhelmed. Break it down into milestones that are weekly, quarterly, and even yearly. Creating these incremental steps allows you to celebrate minor achievements and pivot quickly if a plan is not working.

Create visual reminders: Set up a vision board or a private Pinterest page for visual inspiration. A Kanban-type board or thermometer poster can help you measure progress.

Choose what works best for you and your type of goal. The more tangible you make your vision, the more inspired you will be to turn it into reality.

Talk about it: Talk to your personal advisors, friends, loved ones and, if appropriate, your team about your goals. It will keep you accountable and allow others to share your inspiration.

Map out benchmarks: Define the steps needed to achieve your dream, such as creating a new marketing plan, adding an additional team member, or a setting out on a real estate hunt. Work your plan by breaking the large steps into smaller ones. 

Don’t let setbacks defeat you: Remember the old saying, “Quitters never win and winners never quit?” The road to reaching dreams can be bumpy; expect setbacks and roll with them. Don’t allow yourself to feel discouraged or defeated. 

Show yourself kindness: Don’t work to the point of burnout. Take breaks and be as gracious to yourself as you would to a friend who is on a mission to achieve a goal.  

Through gradual and measurable goal-setting, you will likely gain the clarity needed to reach your objective. Our dental accounting team can help you create a roadmap based on our many years of experience and put the financial pieces into perspective.

Contact our dental accounting firm today to make an appointment for a free consultation and set your goals in motion!