As a dentist, you know that running a successful practice involves more than just providing excellent dental care. You also have to be savvy about the business side of things, including dental practice accounting, bookkeeping, and taxes. Every business has its fair share of problems, issues, and blockers, and dentistry is no different. That’s where a dental CPA comes in. specialized dental CPAs are creative problem solvers that tend to have a different outlook toward common business problems. They look at things in a different light and find innovative solutions to the most pressing problems of your business. Although accounting softwares can help you solve some of these problems, it can’t replace a qualified person who understands the unique challenges faced by dental practices. In today’s article, let’s take a look at what makes a real dental CPA in Maryland a must for every dental practice in the USA.
A Story About The Importance Of Good CPAs And Accountants
If you’re old enough, you’ll remember Al Capone, the notorious kingpin of the underworld. Directly or indirectly, he committed countless crimes. But do you know what was ultimately the reason for his arrest and sentencing? If you guessed his activities as a gangster, you’re wrong. Al Capone, also known as Scarface, was charged with tax evasion. Yes, the notorious mob boss who operated out of Chicago for several years was arrested because he had a crappy team of accountants and CPAs (If he even had them in the first place). All It took to bring down this mammoth was a team of uncle sam’s finest accountants and bureaucrats. Even though this story has little to do with dentistry or dental accounting, it illustrates how important accountants are to every industry.
Top Traits Of Creative Problem Solvers
A dental accountant is a professional who has dedicated their life to dentistry. Accountants in the dental industry are more than just tax preparers. They understand dental businesses and can offer solutions that others might not be aware of. Here are some other traits dental CPAs have –
- 1. They have the ability to re-define a problem and to look at it from a different perspective
- 2. They have a can-do attitude and aren’t shy of using unconventional methods to do things
- 3. They always have a system in place. A system that helps them break down the problem into smaller chunks and tackle them one by one.
- 4. They are in tune with their intuition and know when to trust their gut and when to trust their mind.
- 5. They have a larger view of the problem and try to solve the root cause instead of suggesting a bandaid fix.
- 6. They carry all stakeholders with them through the solution instead of just giving a solution out.
- 7. They don’t let their experience overpower the facts and data. Instead, they use their expertise to uncover information and reevaluate the problem.
How Creative Dental CPAs Solve Complex Business Problems
They Understand Dentistry And The Dental Business As A Whole
Hiring any accounting will help your business flourish and grow. However, when you hire a specialist dental CPA or dental accountant in Maryland, you bring in a partner that knows the business in and out. A dental CPA or a virtual CFO is someone who understands the problems your practice may face before you even realize you have those problems. They use the knowledge that they have accumulated over the years to solve complex business problems efficiently using various tools and techniques at their disposal. Because they understand your business, they can recommend an ideal solution for your specific problem that will suit your individual practice.
They Look At The Big Picture
Accounting as a profession has been full of analytics and analytical thinkers. While doctors and dentists, too, look at the finer things in detail, sometimes you need someone on the outside to provide a fresh perspective to view a problem. Dental CPAs are trained to think outside the box, which is how they are able to pinpoint the root cause of issues and offer immediate solutions and long-term solutions for all kinds of problems faced by a dental practice.
They Use Creativity With Logic To Create Magic
Many people see accountants as drab and serious people; that’s why it oftens comes as a surprise when they realize how creative an accountant can be. As a CPA, our work requires creative, out of the box solutions that are always compliant with the law. This unique approach towards things allows CPAs to innovate and come up with smart solutions to help any business.
In conclusion, a dental CPA is a creative problem solver who is able to provide support and advice on a variety of financial issues. They are an important part of the dental team and can help dental practices to run more efficiently and effectively. Are you looking to go beyond your financial goals and build generational wealth? Do you want to give the headache of accounting, auditing, bookkeeping, and compliance to a specialist? You’ve just hit the jackpot! Get in touch with Sigma today to understand how our services can guide you toward financial freedom by maximizing profits and minimizing taxes. Book a free CPA consultation in Maryland today.