CALLING ALL DOCTORS, DENTISTS, AND WELLNESS BUSINESS OWNERS
Banish Financial Worries Forever
Avoid expensive tax bills and make more money with specialized accounting, tax strategies, and financial advisory for healthpreneurs.
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Ready For A Clean Bill Of Financial Health?Here’s How We Can Help:
BOOKKEEPING & ACCOUNTINGFinally know where all of your money goes (and when it’s coming next)
Balanced books are the building blocks of a healthy practice. But complex medical billing, insurance reimbursements, and regulatory requirements make tracking performance tricky. Let our accountants simplify the complex and deliver vitals you can count on.
TAX PREP & PLANNINGStop fearing your tax bill and keep more of your money
Take advantage of all available tax-saving strategies while ensuring compliance with tax laws. We’ll implement a plan to lower your tax bill and file regularly so you never experience the stress of a huge surprise bill.
FINANCIAL & CFO SERVICESGrow a stable practice that funds your lifestyle
Get the personalized guidance you need to make informed decisions about investments, expansion, and financial stability. So you can own a business that’ll fuel your life and serve your community for generations.
Tax Saver
Protect Your Practice
Leave A Legacy25 Years StrongFuture Focused5-Star ReviewsProactive Tax Management
You advocate for your patients.You Deserve An Accountant That Does The Same For You.
Sigma Accountants helps health & wellness leaders in the greater DC area keep their practices financially fit through holistic tax, accounting, and financial advisory services that treat your whole business, not just your tax returns.
Think of us as a financial health coach here to equip you with everything you need to protect your assets, retire rich, and spend more time doing what nourishes you— without worrying about next month’s bills, end-of-the-year taxes, or how you’re going to retire without sacrificing the lifestyle you’ve grown accustomed to.
Our Case Studies
From Trudging Through TurboTax To Cutting Taxes By 15%
Dr. Sima is a successful dentist working in the heart of Maryland. Like many healthpreneurs, her days are a whirlwind of appointments, check-ups, and procedures. On top of that, she has to manage the day-to-day operations of running a bustling practice.
Stressful enough, right?
But every year, there was one looming task that cast an extra shadow of doubt over her entire life: **TAXES**.
Dr. Sima did what most healthpreneurs do. She tried to prepare her practice's taxes herself using TurboTax.
It seemed like a reasonable choice at first – a quick, accessible solution that allowed her to file her taxes without the need for a dedicated accountant.
However, the more her practice grew, the more complex her financial situation became.
She was hiring more staff…
And she soon discovered that TurboTax, while suitable for simple tax returns, couldn't quite keep up with the intricacies of her evolving business.
She had spent hours sifting through piles of receipts, invoices, and payroll data, attempting to understand the nuances of the tax code.
Even with TurboTax, she was still overwhelmed. It just couldn’t solve the unique challenges that came with running a medical practice.
**She felt:**
❌ Worried that she was missing important deductions relevant to her industry (and therefore overpaying her taxes)
❌ Anxious that she’d make a mistake and be audited by the IRS (which would steal even more of her time away from her patients)
❌ Tired of working in her business instead of on it (she had little free time—or business growth to show for all the hard work she’d been putting in)
Dr. Sima knew that every dollar saved in taxes could be reinvested into her practice or spent on her family.
**The stakes were too high. By trying to handle her taxes all alone, she was risking the:**
- future of her practice
- security of her family
- peace of mind she desperately longed for
The stress of it all was taking a toll on her. She realized that she needed a solution that would allow her to focus on what she loved most—providing quality dental care to her patients.
Dr. Sima decided to attend a financial literacy seminar for healthcare professionals. There, she learned that a Certified Public Accountant (CPA) could:
✅ **maximize her tax savings**
✅ **prevent audits and penalties**
✅ **deliver peace of mind during tax season**
That’s when she reached out to Sigma.
**Here’s what we did for her:**
1. _We evaluated her financial situation_
- We reviewed Dr. Sima’s last 3 years of tax returns to find errors, missed deductions, and opportunities for tax savings.
2. _We made a plan to lower her taxes_
- We delivered a comprehensive tax planning strategy tailored to Dr. Sima’s specific situation.
- She got a personalized tax calendar with essential filing dates, a list of industry-specific deductions, and a step-by-step plan for lowering her taxes.
3. _We monitored her monthly progress for sustained growth_
- We corrected the previous year’s tax returns and put our strategy in place.
- Then we met with Dr. Sima every quarter to streamline her taxes and grow her finances.
**It worked. Dr. Sima saved:**
- 💰15% on her taxes by claiming missed deductions
- ⏰ 20 hours annually that she previously spent suffering through tax prep alone
**And she felt:**
- 🧘🏽 Waaaay less stressed, knowing that her taxes were handled by an expert
- 😎 More confident making business decisions thanks to numbers she could trust
- 🏃♀️ Energized and focused on expanding her practice and improving patient care
Transitioning from TurboTax to a specialized CPA saved Dr. Sima $15,219 and gave her much-needed peace of mind. So she could focus on what matters most: **providing quality dental care to her patients**.
Wondering how Sigma can get you the tax savings and peace of mind you deserve?How We Helped One Mental Health Clinic Open 14 Additional Locations In 10 Years And 24X More Cash Flow And 117X+ ROI
Community Behavioral Health is an outpatient mental health clinic in Maryland. In 2012, they had the ambitious project of growing their single clinic into a larger network of clinics so that they could serve more patients.
They had the clinical expertise and passion for mental health required. But they felt completely lost when it came to handling the administrative and financial aspects of running a healthcare business.
**They struggled with:**
❌ **Lack of financial knowledge:** They lacked experience in financial oversight and struggled to achieve profitability without sacrificing quality.
❌ **Clogged operations:** They were already overwhelmed with handling admin for one location. The thought of expanding felt impossible.
❌ **High tax burden:** The client struggled with a huge tax liability. Every dollar they sent to the government weighed heavy in their minds. They wished they could reinvest it into the practice and their community.
❌ **No growth strategy:** They dreamed of serving more patients. But they had no idea which strategies could make this dream a reality.
❌ **No time:** DIYing their finances robbed them of time they could spend on patient care and strategic planning. They needed more free space on their calendars—not less.
**They reached out to Sigma for help. Here’s what we did:**
✅ **Prepared a holistic tax strategy:** We devised a comprehensive tax plan, identifying all possible deductions and credits they could claim to reduce their tax bill. This strategy cut their bill by 45%.
✅ **Streamlined operations:** We introduced modern accounting and operational software so that they could put administration on auto-pilot and find time to manage additional locations.
✅ **Guided their expansion:** We took on the role of part-time CFO. This included analysis and advisory on location selection, staffing, and service offerings that would make future locations profitable.
✅ **Liberated their time:** We handled the bulk of their financial and administrative burdens. So they could refocus on patient care and their broader vision for their practices.
**Fast forward to 2024:**
They’ve gone from bogged-down business owners to leaders of 14 new clinics across the state of Maryland.
The team behind Community Behavioral Health already possessed the passion and vision required to achieve such a feat. Sigma brought strategic financial planning and management expertise to push them across the finish line.
**Similar goals?**
Reach out to schedule your free consultation today to discover how Sigma can help you reach them.How We Helped One Psychiatrist Juggling 1099 And W2 Employment Streamline His Finances, Cut $30,000 Off His Tax Bill, And Earn 65% More Time
Dr. Mirhom is a New Jersey-based psychiatrist. Like so many healthpreneurs, he had to navigate a maze of different employment roles as he seized exciting career opportunities.
**He juggled (and continues to balance):**
❌ a full-time W2 position at a reputable hospital that provided him with a steady income and benefits
❌ independent 1099 work as a private practice psychiatrist that granted him the autonomy he yearned for
This made his tax and accounting situation pretty tricky.
To add to the complexity, Dr. Mirhom's career was on the move— literally. He had relocated to a new city, which brought with it a fresh set of financial and tax implications.
He tried TurboTax but knew it wasn’t enough to protect him. The fear of inadvertently making a mistake while filing taxes gnawed at him. He knew that the stakes were high. One misstep could lead to penalties, or worse—an audit.
And then it happened: he got slapped with a significant underpayment penalty on his first quarterly estimated tax bill.
He sought the advice of a close friend who recommended Sigma.
**Here’s what we did for him:**
1. _We evaluated his financial situation._
- We carefully reviewed his current finances, previous W2 earnings, and projected 1099 income.
2. _We developed a plan to lower his business expenses and taxes by restructuring his business for greater efficiency, which resulted in a reduction of his total tax liability._
- We conducted sessions to understand his professional goals and anticipated expenses. Dr. Mirhom received a blend of tax planning, business expense advisory and templates plus personalized guidance for quarterly tax payments.
3. _We set up a system for filing quarterly and annual taxes_.
- We prepared a tax return that accurately captured his W2 and 1099 work. And we put into place a system for timely quarterly estimated tax payments to prevent another penalty.
**It worked. Dr. Mirhom saved:**
💰 $33,059 by claiming previously missed deductions, changing business structure and employing tax planning strategies including applying for penalty abatement.
💰 $5,000+ by avoiding another underpayment penalty (for 2 years and counting)
⏰ 65% of time previously spent grappling with tax preparation, giving him more time for contract work
**And he finally felt:**
😎 Confident navigating the financial implications of his 1099 status
💡 Knowledgeable about business expenses and deductions affecting his tax bill
🧘🏽 At peace, knowing that he is compliant and optimizing his tax situation
🛞 In control of his professional journey and ready for future opportunities
Balancing W2 and 1099 employment created a tricky tax situation with significant room for error and penalties. With our help, Dr. Mirhom was able to turn those challenges into $33,059 in **tax savings, more time to focus on his patients, and opportunities for continued business growth.**
Wondering how Sigma can get you the tax savings and peace of mind you deserve?We Are Proud To Have Worked With:
25 years of accounting expertise. A lifetime spent going the extra mile.
We have been selected three years in a row for the Best of Columbia Awards - Certified Public Accountant category.
WHY CHOOSE SIGMA?Skip The IRS Risks, Security Threats, And Mistakes Plaguing Online Accounting SoftwarePlug into a personalized all-in-one system for complete financial health instead
Keep your finger on the pulse of healthcareWe only work with healthcare businesses like yours. That means you’ll capitalize on deductions healthpreneurs often miss, gain competitive insights into industry benchmarks, and work with a team that speaks your language.
See the big business picture with insights from an MBA-educated CPALess taxes = more money to invest in growing your business. We stick around before and after tax season to make sure those investments result in a prosperous practice and lifestyle you love.
Enjoy modern solutions for modern problemsWe’ll keep you compliant and connected with the latest no-learning-curve software and open communication channels. You’ll get proactive, on-call guidance plus the flexibility you need to pivot quickly. No contracts or surprise bills ever.Consider It Counted:Sigma’s free financial literacy postsQuick & easy tips for growing a prosperous practice
𝐀𝐬𝐬𝐞𝐬𝐬 𝐘𝐨𝐮𝐫 𝐍𝐞𝐞𝐝𝐬: Identify time-consuming accounting tasks like payroll and tax preparation.
𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐒𝐩𝐞𝐜𝐢𝐚𝐥𝐢𝐳𝐞𝐝 𝐅𝐢𝐫𝐦𝐬: Seek firms experienced in dental practice financial challenges.
𝐂𝐡𝐞𝐜𝐤 𝐂𝐫𝐞𝐝𝐞𝐧𝐭𝐢𝐚𝐥𝐬 𝐚𝐧𝐝 𝐄𝐱𝐩𝐞𝐫𝐢𝐞𝐧𝐜𝐞: Verify qualifications and seek references from dental professionals.
𝐄𝐯𝐚𝐥𝐮𝐚𝐭𝐞 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐲 𝐂𝐨𝐦𝐩𝐚𝐭𝐢𝐛𝐢𝐥𝐢𝐭𝐲: Ensure the firm's technology integrates smoothly with your practice management software.
𝐔𝐧𝐝𝐞𝐫𝐬𝐭𝐚𝐧𝐝 𝐭𝐡𝐞 𝐂𝐨𝐬𝐭𝐬: Clarify pricing structures and evaluate potential ROI against outsourcing costs.
Book a free consultation with Sigma Accountants and start optimizing your tax strategy today.
Link: https://sigmataxes.com/
Sigma Accountants
Healthy numbers. Wealthy life.
#sigmaaccountants #asksigmawednesday #maryland #dentists #dentaltax #marylandbusiness #dentalpracticemanagement #dentalpractices #marylandsmallbusiness #dentalcpa #dentistry #dentistryworld #dentistrylife #dentistlife #dentistrymyworld #dentistrylove #dentisterie #DentalConsultant #dentalteam
To effectively manage account reconciliations:
𝐄𝐬𝐭𝐚𝐛𝐥𝐢𝐬𝐡 𝐚 𝐂𝐨𝐧𝐬𝐢𝐬𝐭𝐞𝐧𝐭 𝐒𝐜𝐡𝐞𝐝𝐮𝐥𝐞: Dedicate a specific day each month for reconciliation to create a routine.
𝐔𝐭𝐢𝐥𝐢𝐳𝐞 𝐀𝐜𝐜𝐨𝐮𝐧𝐭𝐢𝐧𝐠 𝐒𝐨𝐟𝐭𝐰𝐚𝐫𝐞: Invest in software to automate processes, reducing errors and saving time.
𝐆𝐚𝐭𝐡𝐞𝐫 𝐍𝐞𝐜𝐞𝐬𝐬𝐚𝐫𝐲 𝐃𝐨𝐜𝐮𝐦𝐞𝐧𝐭𝐬: Organize all relevant documents like bank statements and receipts before starting.
𝐄𝐧𝐠𝐚𝐠𝐞 𝐘𝐨𝐮𝐫 𝐓𝐞𝐚𝐦: Involve staff in the reconciliation process and train them to spot discrepancies.
𝐃𝐨𝐜𝐮𝐦𝐞𝐧𝐭 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐚𝐧𝐝 𝐀𝐜𝐭𝐢𝐨𝐧𝐬: Record discrepancies and resolutions to track issues and improve processes.
Learn more about Medical Accounting and Bookkeeping!
Book your FREE consultation here:
Link: https://sigmataxes.com/
Sigma Accountants
Healthy numbers. Wealthy life.
#sigmaaccountants #taxtiptuesday #MedicalBusiness #MedicalBusiness #Depreciation #TaxSavings #maryland #dentists #dentaltax #marylandbusiness #dentalpracticemanagement #dentalpractices #marylandsmallbusiness #dentalcpa #dentistry #dentistryworld #dentistrylife #dentistlife #dentistrymyworld #dentistrylove #dentisterie #DentalConsultant #dentalteam
Embrace winter not just as a cold and quiet season but as a perfect backdrop for new beginnings. While nature quietly rejuvenates, we too can reflect and renew our intentions. It's a time to set goals, dream big, and lay the groundwork for the year ahead. How are you using this winter to ignite fresh starts and new journeys?
#NewYearNewYou #HappyNewYear #FreshStarts
