Tag: Baton Rouge LA Dental Accountant

Dental CPA | 5 Signs You NEED an Accountant

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Have you wondered whether you actually need to have a professional accountant? Here are 5 signs that confirm you do:

1) You earn over $200,000 per year – Your odds of being audited once you start earning over $200,000 a year increases 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 all of your deductions are included, your assets are depreciating properly, and 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, minimize your taxes, and 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, employees, and vendors is going to require more paperwork and number crunching and can rapidly become impossible for you to manage.

AG Dental CPAs & Advisors
6421 Perkins Road, Bldg. A, Ste. 1B, Baton Rouge, LA 70808
(255) 767-1020

Dental CPAs 70808 | Strategies to Boost Profitability

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Dental CPAs in Baton Rouge, LA

According to Dr. Charles Blair, DDS, most dental practices are losing between $30,000 and $50,000 in potential profits. How can dental practices maximize return on their services and start to recoup capital? Here are three strategies to boost profits in your practice:

Optimize your Practice

Taking a look at production reports to make sure procedures were coded correctly. This may seem fundamental, but it can save a lot of time and money in the long run. One incorrectly charged procedure can increase costs over the course of a year.

In addition, adding high-dollar procedures to your practice such as endodontics, bleaching, and other cosmetic services can greatly boost your profit. Training dental hygienists in more complex procedures, such as soft-tissue management and bleaching, will also maximize a dental practices’ profitability.

Staff your Practice Well

In order to recruit and hire the best possible candidates, it is worth paying above average wages to experienced people in the field. This avoids employee turnover, which can become costly. A friendly and knowledgeable team will also help with patient retention rates.

Facilities and Equipment

If possible, purchase all your dental and office equipment, rather than leasing it. This avoids a number of issues, including higher retail costs, interest payments, hidden fees, and lease-breaking penalties.

Strive to maximize your office space. If your current patient volume doesn’t allow you to use all your offices, consider subletting either your primary or secondary office space. Also, merging your office with another dentist can help you in fully utilizing your space and also reduces overhead costs.

There are a variety of ways to boost profits and cut costs while owning a practice. To start, think about your services, staff, and office space. Opening a practice can be costly and leave many dentists in debt, especially after finishing school. Contact us today for help on managing your budget and ways to maximize your return on investment.

 

6421 Perkins Road, Bldg. A, Ste. 1B
Baton Rouge, LA 70808
(225) 767-1020

Exciting News! AG Dental on Thriving Dentist Podcast

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We’re excited to share that Robby Apple from AG Dental was this week’s guest on “The Thriving Dentist” podcast discussing tax reform!

Please click the link below for Robby’s interview. It’s about an hour and is packed with valuable information on how the 2018 Tax Reform Bill will affect you. The Thriving Dentist is the #1 dental podcast on itunes, all prior episodes are available for free download, there are many awesome guests discussing a wide array of topics in the library of episodes.

Thriving Dentist – Tax Reform Episode

Read about the major provisions of the tax bill

CPA in Baton Rouge, LA | The Impact of Ignoring Negative Reviews

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CPA Baton Rouge

baton rouge cpaFinding a bad review of your business can feel like your world is turned upside down. Some business owners may choose the approach of dismissing the negative feedback and blaming the customer or client. When ignored, negative reviews can have a detrimental impact on your business. Here’s how:

You Will Lose Clients

Customers and clients will not want to be treated disrespectfully. They want their voices heard and to be valued as an individual. If you ignore negative reviews, you are essentially telling both the reviewer and prospective leads that you don’t care about what they have to say. The clients that do complain are ones that feel passionately enough about your business to voice their concerns. If you don’t validate those concerns, expect them to take their business elsewhere.

Missing a Chance to Learn

Mistakes present an opportunity for business leaders to learn. It’s even better when a client presents those mistakes clearly. This will allow you to learn why the mistake happened and how to fix it so it doesn’t happen in the future. If you ignore the feedback from the client, you will not know what the mistake was and it may happen again. Negative reviews offer a chance to learn and grow your business, if you ignore them you miss that opportunity.

No Response Speaks Volumes

Potential clients that are looking at your online profile will see that a bad review is being ignored. If that were to happen, you could lose out on their business and any referrals they might make in the future because they don’t think you care about your clients. This applies to current clients that keep track of your businesses reviews.

Running Out of Excuses

Due to the nature of reviews being public, once a client writes one, everyone can see it. This creates a lasting list of negative occurrences for your business that can be referenced by others. Address poor reviews when possible. Show the client or customer that you care about their thoughts. While it may not win them back, it may be the perfect set up to capture future loyal clients who see your thoughtful and personal response.

Great reviews are not the only ones that can help improve your business. Bad reviews present an opportunity to learn from them and grow your business. If you choose to ignore poor reviews, the consequences could be disastrous. Not only could you lose current clients, but negative reviews could impact the decisions of future clients looking at your business. When you see a negative review, take a step back and see what you can learn from the experience. Address their concerns, and make an effort to change your business to create positive experiences in the future.

Contact our team for a consultation today.

(225) 767-1020

Baton Rouge CPA | 4 Ways to Grow Your Confidence as a Business Leader

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70808 CPA

The up and down nature of confidence can be exemplified as a business leader because of the stressful nature of maintaining a high-ranking position. Confidence can grow with practice and effort. Here are four ways to grow confidence as a business leader.

Consistency is Key

Rapidly changing methods and ideas can prevent a business leader from feeling confident. The business should work for the business 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 business will run smoothly. Know and understand the key parts of the business, 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.

Be 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 dispel any notion coworkers might have that you are not being a genuine person. Openness and authenticity will not only strengthen your bond with your employees, 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 a slight against you. Listen to feedback from coworkers 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 as a person. 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 business leader, strive to know everything you can about the business 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 business as a whole. You can take your confidence to the next level, while learning how to prevent situations from arising that can be detrimental to your confidence.

For a consultation, contact our team.

6421 Perkins Road, Bldg. A, Ste. 1B
Baton Rouge, LA 70808
(255) 767-1020

Dental CPA | Finding Opportunity in Hygiene Appointments

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Dental CPA Baton Rouge

What percentage of your total production consists of hygiene appointments? For many dentists, hygiene appointments make up a significant portion of total production numbers. According to a study last year, hygiene appointments comprise nearly one-third or greater of total production numbers for approximately 80% of all dentists.

Hygiene is a significant source of overall production, but is there room for improvement? The same study uncovered a startling statistic – only 17% of dentists indicated that the majority of their active patients are receiving regular hygiene appointments every six months. This means there is a significant opportunity here. Hygiene numbers could increase as much as five times among current, active patients.

What steps can you take to encourage patients to schedule, and attend, regular hygiene appointments?

It is necessary to have an action plan in place. Create a consistent system that can be followed for confirmations. Some practices call or text one or two days prior to the appointment. This can help reduce the number of no-shows. Instill in your team the need to address the importance of hygiene examinations to patients. Most patients are not fully aware of all that goes on during the appointment and view it merely as a cleaning. Emphasize the need for regular oral cancer screenings as well.

Opportunity exists within your practice. Harness the potential that each patient brings with regular hygiene visits.

Boost hygiene production to improve your bottom line. Contact us for financial insight and assistance.

Baton Rouge CPA |Combat Burnout to Increase Production

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CPA in Baton Rouge

Combat Burnout to Increase Production

Have you ever felt tired, stressed, and overwhelmed to the point where it impacts your production numbers? Burnout can happen to all dentists and their teams. Yes, this includes you. Before burnout starts to significantly impact your practice, you need to know how to recognize it and how to manage it.

 

Identify Signs of Burnout

If you start to feel unfocused, tired, or bored, you may be experiencing burnout. Does your team lack the enthusiasm they once possessed? When you start to notice these clues and behaviors, take action immediately. You and your team have invested countless hours in building a fulfilling career in dentistry. Don’t allow a temporary period of burnout to cause you to question your work. Instead, it’s time to reinvigorate your attitude.

 

Identify the Problem Areas

When production numbers begin to slip, look at where your numbers are starting to drag. A dental CPA can help you identify areas where your numbers a falling. When a department’s numbers begin to sink, your team members can start to feel low, impacting the office’s overall morale. Identifying the problem area allows you and your team to find and implement a solution before dissatisfaction spreads.

 

Identify New Areas to Explore

If you are experiencing burnout, the time may be right to learn a new skill. Sign up for a CE course or workshop on a subject that is new or intriguing. By expanding your skills, you can increase the number of services you provide, which can turn sagging appointment numbers around. Could your team benefit from additional courses? You may want to try selecting a course the entire team can participate in together. Not only will you all be learning new applicable skills, but you will be improving your relationships with each other which will lead to improved morale.

 

Burnout will happen to even the best dental team. When you start to notice the signs of burnout, don’t wait for things to improve on their own. Be proactive and identify the areas you or the team could improve. Whether it is improving the number of hygiene appointments, or taking a new CE course, take action immediately to combat signs of burnout.

A dental CPA team can help you evaluate areas of opportunity. Contact us today.

6421 Perkins Rd.
Bldg. A, Ste 1B
Baton Rouge, LA 70808

Baton Rouge Dental Consultant | Combat Burnout to Increase Production

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Dental Consultant in Baton Rouge

Dental Consultant in 70808Have you ever felt tired, stressed, and overwhelmed to the point where it impacts your production numbers? Burnout can happen to all dentists and their teams. Yes, this includes you. Before burnout starts to significantly impact your practice, you need to know how to recognize it and how to manage it.

Identify Signs of Burnout

If you start to feel unfocused, tired, or bored, you may be experiencing burnout. Does your team lack the enthusiasm they once possessed? When you start to notice these clues and behaviors, take action immediately. You and your team have invested countless hours in building a fulfilling career in dentistry. Don’t allow a temporary period of burnout to cause you to question your work. Instead, it’s time to reinvigorate your attitude.

Identify the Problem Areas

When production numbers begin to slip, look at where your numbers are starting to drag. A dental CPA can help you identify areas where your numbers a falling. When a department’s numbers begin to sink, your team members can start to feel low, impacting the office’s overall morale. Identifying the problem area allows you and your team to find and implement a solution before dissatisfaction spreads.

Identify New Areas to Explore

If you are experiencing burnout, the time may be right to learn a new skill. Sign up for a CE course or workshop on a subject that is new or intriguing. By expanding your skills, you can increase the number of services you provide, which can turn sagging appointment numbers around. Could your team benefit from additional courses? You may want to try selecting a course the entire team can participate in together. Not only will you all be learning new applicable skills, but you will be improving your relationships with each other which will lead to improved morale.

Burnout will happen to even the best dental team. When you start to notice the signs of burnout, don’t wait for things to improve on their own. Be proactive and identify the areas you or the team could improve. Whether it is improving the number of hygiene appointments, or taking a new CE course, take action immediately to combat signs of burnout.

A dental CPA team can help you evaluate areas of opportunity. Contact our office today.