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When it comes to dental bookkeeping and accounting for your dental office, you can’t count on just anybody.
Your peace of mind depends on having an expert accounting team to support you. Your top priority is your patients’ care, and it should be. You shouldn’t have to be inundated with all the other matters going on behind the scenes, and you definitely shouldn’t have to lose sleep at night wondering if you’re getting it right. With Schultz & Associates as a part of your team for dental bookkeeping, we will get it right — allowing you to focus on what’s most important to you.
Why Dental Offices Need Professional Accounting Services
So many numbers, documents, insurance details, and tax factors go through your office daily.
Policies from the various dental insurance companies alone run the gamut. Not only do you have to account for how patients’ insurance coverage was used, but when, where, and why.
That’s just the beginning when it comes to accounting needs for your dental practice.
There are also payroll issues to consider, retirement plans to keep up with, building and land updates to account for, investments in equipment to keep track of, and so much more. That’s in addition to the basic tax preparation for your business, the building, and possibly the land. If you are renting your space as opposed to owning the property, there’s another layer to address.
And there’s one more thing: You’re a real person too. Your personal life and your professional life are fused together in certain cases for accounting purposes. A dental bookkeeper, also you for more personal time.
There’s so much to think about, and we don’t want you to have to think about more than you have to. You have enough on your mind. In this case, we can do the thinking for you.
What Schultz & Associates Can Do for You
Our goal is to help you simplify your accounting processes while ensuring that the reporting is complete, accurate, proper, and on time.
In other words, simply give us the facts, and we’ll take it from there.
We provide timely services and high-level dental accounting, tax service, and advice for dental practices throughout Michigan. We strive to assist you in structuring the payment of taxes and retirement plan contributions in the year the money is earned, as we find that this simplifies your decision-making. We place a priority on quality services, results, and customized solutions.
In the long run, choosing an experienced dental accounting firm for your dental office provides significant value. What do we mean?
For one, mistakes can cost you. As a top dental accounting firm, we have seen it all and done it all, so we know how to avoid the pitfalls that someone else might encounter. We also know how to keep the money you’ve earned and retrieve the money that is entitled to you. At the same time, we make it our responsibility to stay abreast of changes in the tax and accounting laws — and trust us, there are many. Because we continuously educate ourselves, you can rest assured that our accounting services for your dental practice are accurate, complete, and appropriate, right down to the smallest detail.
Services & Standards that Make the Difference
We will professionally prepare your dental practice’s business return, whether it be a PLC or a PC. If your dental practice is a PC, it will require either a Form 1120-S or Form 1120. If you are a dentist practicing as a PLC, you may be filing Form 1120, 1120-S, 1065, or Schedule C.
Following are some of our baseline dental accounting services:
- Dental practice business income tax return
- Unlimited telephone and email communication
- Quarterly financial statement presentation
- Ongoing tax planning
- Individual income tax preparation
- Payroll services through our associated partnership
Communication: We’re Here for You When You Need Us
When your dental practice hires our accounting firm, you will be able to easily communicate with our team. You will be assigned two staff accountants who will assist with your needs.
In addition, our staff will collaborate on a tax and dental accounting strategy that is customized for your dental practice. When issues arise, they will be discussed as a group, and a collaborative approach will be taken prior to providing professional advice.
Financial Statement Preparation: Helping You Get Those Numbers in Order
Our firm’s dental accounting services will include quarterly financial statements or more frequent statements as needed. These statements will be provided on a timely basis so that you can make decisions using the most updated facts and figures. The financial statements will include a compilation report, as well as all the necessary financial statement note disclosures. They can be used for internal use or will be prepared for banks, creditors, or any other third parties.
If a compilation is not enough, our firm is also approved to provide your dental practice with a financial statement review or audit.
Dental Office Tax Planning: Assistance Where It Counts
Many accounting firms may see dental accounting tax planning as an optional service, but our accounting firm will strive to serve as your accounting adviser.
Our level of training, experience, and knowledge of dental accounting and taxation is extensive. Simply providing compliance accounting and tax preparation fails to capture the value we can bring to your practice and to your bottom line.
Dental Bookkeeping
Let Schultz CPA provide you with dental bookkeeping. We will reconcile your bank account and credit card statements on a monthly basis. We will post your payroll to the corrected categories and be sure that any loan balances are accurate. Finally, we will post monthly depreciation and amortization. We are accountants, but we are happy to do the dental bookkeeping as well.
Individual Income Tax Service: Because You Matter Too
The planning and preparation of business owners’ individual income tax returns is an integral part of our tax and accounting services for dental practices.
Most dental practices see the profits from their business returns flow through to their individual returns. For that reason, it may be challenging to plan and strategize without also understanding how the practice’s accounting impacts the personal income tax return.
Payroll Assistance: Complementing Our Accounting Services
With Schultz & Associates as your right-hand team, even payroll processing can be simplified.
Founded by Lori Villar in 2005, Express Payroll Solutions serves as our firm’s payroll arm. Lori has run EPS for more than 15 years and has processed payroll, tax deposits, 941 payments, and W2x for hundreds of small businesses.
EPS allows business clients to call or email in their payroll on a weekly, biweekly, semiweekly, or monthly basis. Proper tax payments are made on the behalf of each business, and payroll services include quarterly payroll report processing and end-of-year W2 processing.
Get in Touch with Schultz
Based in Canton, Schultz & Associates can provide accounting and tax services to dental practices throughout Michigan. Contact our CPA firm for the support you need to organize, optimize, and strategize for the benefit of your dental practice.