the blog

Looking to grow your dental practice? Quality dentistry, reasonable prices, and other factors like insurance acceptance are all important. But so is your dental team! And without proper training, it’s entirely possible that you’re missing out on both new and repeat patients. 

Buying an existing practice and starting a new practice are both viable options if you want to run your own dental office. And at Tooth and Coin, we can help you do the math, and learn more about the advantages and drawbacks of both options. Need guidance? Give us a call at (877) 265-2121 or schedule an appointment online today.

Starting a new dental practice? When you file articles of incorporation in your state, you’ll typically incorporate your business as a C Corp by default. But dentists are often better served by choosing an S Corp. This is very similar to a C Corp, but has some unique advantages that make it a better option for dentists. In this blog from Tooth & Coin, we’ll take a look at the basics of both S Corps and C Corps, and why most dentists should choose an S Corp.

Building a dental practice from the ground-up is a dream for most dentists. But whether you want to move on to a new location, enter a new specialization, or just retire and enjoy the fruits of your labor, there may come a time when you need to sell your practice. In this blog, Tooth & Coin will take a look at a few things that you should keep in mind before you sell your practice.

Now that you’re a practice owner, you’ve already spent years in dental school, completing a residency, and even keeping up with continuing education courses. If you pursued this conventional way of obtaining your qualifications and schooling, you likely did not acquire extensive knowledge of bookkeeping or accounting. Practice ownership can be a shock to the system when a dentist finds that the “business side” of dental work is overwhelming. That’s where a Dental CPA comes in.

Owning a dental practice means that you need to be an expert clinician, expert patient manager, and expert business manager. But there’s good news: you don’t have to do it alone. Dental school only provides you the tools for two-thirds of what it takes to run a successful office. If you’re buying an existing practice, here are a few key steps to keep in mind that will give you a business perspective as you start the journey:

Hiring a dental associate takes much more than a brief look at a candidate’s CV. Finding qualified people who can help drive your business forward and who bring the right energy to your office is no easy task. 40% of US small businesses report that filling jobs was more difficult than they expected, which is surprising when you consider that these small businesses also employ nearly half of the country’s workforce.

Are you making the most out of every return opportunity when you file taxes for your dental practice? Many details are often overlooked - which means many dentists are leaving money on the table at the end of the fiscal year. One way to maximize your return, especially if you have a long commute to the office, is to ensure that you’re calculating the cost of using your vehicle for your business. 

In this episode, we had the pleasure of speaking with Dr. Phelps and picking his brain about how to use network marketing in a dental practice. Dr. Phelps is an entrepreneur and general dentist who owns multiple practices in the Charlotte, NC region.

In this blog, we’ll go over what the IRS says about meal and entertainment deductions, how to ensure you’re following the rules, what this all means, a few frequently asked questions, and how to keep track of these expenses.