Medical and dental practices

Accounting for practices with more than one owner.

Bookkeeping, tax and owner decisions for practices, from the entity filing to a partner buy-in. Your partner knows how a practice's year runs.

Talk to a partner about your practice Estimate your fee
A bright, modern dental surgery
A man reviewing figures on a laptop
Two colleagues working together at a laptop
Two women talking at a table by a city window
Dr. Ryan Walsh in a white coat at his practice

Client story

When a new dentist bought in, Daniel had the schedules ready before the attorney asked. The first month-end after the buy-in closed on the tenth.

Dr. Ryan Walsh Managing dentist, Walsh Family Dentistry
Services
Bookkeeping, tax, buy-ins
Client since
2018
Partner
Daniel Reed

A practice's year

Owner decisions made before the year closes.

Pay is set in January, the practice return goes out in September, and November is for equipment and retirement plans.

January
Owner pay agreed for the year
By the 10th
Every month closed
November
Year-end planning with your partner
A team meeting around a café-style table
Every owner's draws, tracked monthly.

What's included

Everything a practice engagement covers

Books that keep the practice and each owner apart, closed every month and ready for a buy-in.

  • Practice entityPC, PLLC or S corporation, set up with your attorney At formation
  • Monthly closeDeposits from your billing system tied to the bank By the 10th
  • Owner drawsTracked for each owner, every month Monthly
  • Equipment schedulePurchases, financing and depreciation As they happen
  • Owner pay reviewSalary and distributions with your partner Annual
  • Buy-in schedulesWhat your attorney needs when a partner joins As needed
Starting fee $950 / month

Fees

What it costs

Two ways to engage us for your practice. Your engagement letter fixes the figure before work begins.

  • OwnersEach owner after the first
  • LocationsPer location
  • Payroll headcountPer employee band
  • Equipment financingPer schedule
Estimate your fee
Daniel Reed

Daniel Reed quotes every practice engagement.You get the fee in writing within two business days of your consultation.

Owner-run businesses

Bookkeeping

Reconciled books and reviewed statements by the tenth of every month.

From $650 / month

  • Bank, card and loan reconciliations
  • Statements by the tenth
  • Payroll and sales-tax filings
  • A partner review of every close
Book a bookkeeping consultation
Recommended

Owners and their business

Books and tax

Business and owner returns filed from books we close every month.

From $950 / month

  • Everything in Bookkeeping
  • Business return, 1120-S or 1065
  • Owner's personal return
  • Quarterly estimates from real figures
Book a consultation

Questions

About practice work

Anything else goes to your partner at the consultation.

Should our practice be a PC, a PLLC or an S corporation?

It depends on your state, your owners and how you plan to pay yourselves. We go through the options with you and your attorney before anything is filed.

Do you work with our practice-management software?

Yes. Each month we reconcile deposits from your practice-management and billing systems to the bank.

Can you help when a new partner buys in?

Yes. We prepare the buy-in schedules your attorney needs and set up the new owner's accounts in the books.

Do you file the owners' personal returns too?

Yes. Most practice owners have us file both, so the K-1 and the personal return come from the same file.

Consultation

Talk to a partner about your practice

An hour at our office or by video. Bring last year's practice and owner returns.

A couple planning their finances at home with a laptop