Miscellaneous
In this episode, Dr. John and Wendy sit down with Chris Sands, owner of Pro-Fi 20/20 CPAs, an accounting, tax, and financial consulting firm for dental practices. They go over the common mistakes and challenges practice owners have when it comes to managing their dental practice finances. They go into detail how dentist owners can be financially savvy, what numbers they should be looking at, and what you need to do now for taxes. You'll Learn Top financial mistakes that are common among dentist -How dentist financially measure the success of their dental practice wrong Why you shouldn’t have your accountant prepare financial statements Why many practices have such a high percentage of overhead, and what they can do to decrease it What you need to know about 2020 taxes Why it’s imperative to talk to a CPA right now if you took out a Payment Protection Loan (PPP) 3 strategies of what you can prepay for the year to lower your tax bill Why you should get a CPA that focuses on just dental practices Guest Bio Chris Sands focuses on counseling dental business owners as a result of his first-hand experience working in a dental practice. His goal is to help them grow and understand the importance of being fiscally responsible in their business. Chris helps educate doctors about the importance of having accurate business accounting records and a proactive relationship with their CPA to develop tax strategies for both business and personal finances. Chris is active in the dental industry where he regularly lectures at conferences, study clubs, professional association meetings, and workshops and publishes articles on business and finances in the dental industry. Resources Grab a FREE copy of our book. http://www.2xproductionbook.com/ Download the Recession Recovery Checklist. https://www.recessionrecoverychecklist.com Find our video podcast updates by Wendy and Dr. John on our Facebook page: https://www.facebook.com/TeamTrainingInstitute