The United States of America has over 200,000 dentists that operate their practice. This number is stated to keep growing. It’d be safe to assume that all these dentists are always looking to save up on their expenses and cost and increase the bottom line so they can take home more money for their families.

All dentists know how to provide excellent care to their patients. However, not all dentists know how to run a business well. You must have heard the term lean and agile in the context of running your business, but are you aware of what they mean? In this guide, let’s take a look at how you can improve your dental practice profits by trimming out the fat and making your business a lean, mean money making machine.

The best way to boost your dental practice profits is by increasing your capacity to treat patients per hour. The more people you help, the higher your revenue. It’s simple.

How can you increase your capacity? By freeing up your time. Let me elaborate. If you spend an hour every day doing dental practice accounting and bookkeeping, then this is an hour in which you’re not treating your customers. You can offload the task of dental bookkeeping to a dental CPA in Maryland like Sigma to free up your time and resources.

Other ways to increase your capacity include –

1. Hiring training staff to take care of low level issues and prep
2. Streamlining your processes, so only the most pressing issues come to you
3. Getting rid of administrative duties by outsourcing them

You might have heard this phrase – Money is in the niche! And we can’t agree more. You can specialize in high profit procedures like implants, endodontics, porcelain veneers, and setting crowns and bridges et al. to improve your bottom line. This isn’t to say that you should turn away your loyal patient base, but you can start marketing yourself as a niche or procedure specialist so all your new client base knows what to expect.

Your family time is as important as your work time, if not more. So while you’re spending quality time away from your practice, you are losing out on revenue. You can consider partnering up with an up and coming dentist who’s looking for the resources to start their practice to run your clinic while you’re busy with other things in life. This has a multifold effect. You get more patients and loyalty, and you are able to give back to the local community by providing access to those who need it.

Insurance companies are always on the lookout to reduce the profits of a dental practice in shady and sneaky ways. Often, they fix the prices a clinic is able to charge for treatments which could seriously impact your bottom line.

If you have the resources and capabilities, consider developing your own financing program for your patients where they don’t have to rely only on insurance and can also opt for a part payment in the form of monthly installments.

Cut out the middleman and gain all the benefits and then some by utilizing the correct techniques and tools.

Happy customers tend to have a ripple effect. Satisfied patients turn into brand advocates who, in turn, help you grow your customer base. The more positive reviews and testimonials you receive, the better your practice’s reputation. On the other hand, negative reviews can result in a loss of patients and decreased revenue.

It’s proven that maintaining your current patient base and growing your revenues through them is a lot easier than acquiring new patients. Some studies reveal that the cost of new customer acquisition is about 6 to 7 times higher than what you spend on retaining a customer.

The easiest way to retain your customers is to delight them with the help of stellar services, right from the receptionist to the primary healthcare provider- everyone must focus on customer delight.

As a dentist, you specialize in helping your patients get rid of tooth and gum related problems, but would you be able to help someone with a backache they may be having? Probably not. Similarly, a CPA who serves multiple industries may definitely be able to help you, but since they don’t specialize in dental accounting, they may not be the best choice for you.

A dental CPA in Maryland like Sigma has years of industry experience and has helped multiple dentists scale their business effectively with the help of Tax Planning Services for Dentists, dental accounting services, dental bookkeeping, retirement planning for dentists, and much more.

Talk to us today to understand how we can help you grow and scale your dental practice with the help of effective dental accounting solutions. Our friendly team of In Maryland is always happy to help.

Did you know? – Dentists who pay more than 30% in federal, state, and self-employment taxes combined may be overpaying their fair share. A dental tax consultant can help you save your tax. Wondering how? Here are our best tax saving tips for dentists compiled for you. So, read on to learn how you can save tax as a dentist.

There have been significant changes to both high-income individuals and small businesses with the new tax law. Since you are a dentist who probably falls into both of these categories, be sure to familiarize yourself with the major changes as soon as possible.

Over the years, helping dentists save tax, we at Sigma have realized that about 95% of all our clients were paying way more in taxes than what they owed. The reason? Poor tax planning for dentists by CPAs who don’t specialize in dental practice accounting. Many CPAs fail to take advantage of all of the opportunities offered by the U.S. tax code because they simply aren’t aware of them. Here’s how you can get the benefits for your business.

Deductions under section 179 help you reduce your taxable income by accelerating how you expense new equipment. Buying new or used equipment can immediately be expensed up to $1,000,000. Having said that, if you purchased equipment worth more than $3.5 million, there are limitations. Call one of our expert dental accountants at Sigma to understand how you can use these expenses to save taxes.

Bonus depreciation can accelerate the expense process for new or used equipment. As an alternative to writing off 100% of the equipment’s value, you can depreciate the balance over the Modified Accelerated Cost Recovery System (MACRS) life.

Did you build, buy, or renovate your office building in the last 6 to 12 months? If yes, consider performing a cost segregation study.

How do cost segregation studies work? It allows you to use bonus depreciation to reclassify and expense some construction and renovation costs immediately using shorter depreciation classes.

A CSS can be complicated to undertake if you aren’t an expert at accounting. Fortunately, we have a qualified and certified team of Dental CPAs at Sigma who can help you perform the study.

Are you deferring your wages into a 401(k) to prepare for your retirement? If yes, you can contribute and defer about $19000 if you are under the age of 50 and about $25000 if you are over the age of 50.

If you don’t have a plan for your retirement yet, you’re making a grave mistake! Talk to an expert today and get a customized program that may include contributions to an Individual Retirement Account (IRA). You can contribute about $6000 annually towards an IRA to save up on the 3.8% investment tax.

Additional Things To Consider –

• Consider Roth deferrals or pre-tax deferrals.
• Utilize the SIMPLE IRA plan for employees
• Check out a 401(k) with safe harbor
• Establish a defined benefit plan that is cash balance based

Jigna, our principal, is a retirement planning expert who has helped multiple dentists plan for a stable future. Join them on their quest for growth and stability by booking a call with us.

If you have children, you probably give them pocket money for expenses. Use this to your advantage by employing your children and participating in the IRS-approved strategy to reduce your payroll taxes.  This is a Win-Win as you get the tax saving while your children get money for their expenses or even college.

Unemployment taxes are not due until children turn 21. Additionally, they are not liable for payroll taxes, Social Security, Medicare, or unemployment taxes until they turn 18. They also will not be subject to the FICA and Medicare taxes on their wages. LLC owners can benefit from family tax breaks, just like sole proprietors.

If you plan on sending your child to college (Which you most likely will and should), you can set up a 529 Plan.

What’s a 529 plan? A 529 plan is a tax saving instrument where the contributions are tax-free, as long as the distributions are used for qualified educational expenses like college. Some states also offer additional tax benefits for a 529 plan.

You’re probably still fairly confused with all of this. Do you want help? Allow us to unburden you from taking care of your financial health. We at Sigma always strive to ensure that businesses that work with us are healthy and growing by providing the best dental accounting and dental bookkeeping services for them. Feel free to book a meeting with us, no obligations and no strings attached. The coffee’s on us.

We’re moving closer and closer to the holidays (Woo Hoo!), and this is perhaps the best time to look at your books and ensure your financial health, just like your patient’s oral health, is in good shape. Tax planning is your biggest asset when it comes to tax reduction and tax minimization. A certified professional tax planner in Maryland can help you reduce your tax burden and ensure that you take home what you rightfully earned.

In today’s blog, we’ll take a look at some tips we have for dentists who wish to save taxes with the help of professional tax preparation. If you have questions about your taxes or don’t know what deductions you should claim, then speak to a Certified Public Accountant (CPA) from our qualified team. At Sigma, we are dental accounting specialists.

If you’re a new dentist, you might have started as a sole proprietor to save tax until you gain revenue. Many dentists are still filing their taxes as C-corps, which might not be as advantageous as you may think. Consider filing your taxes as an S-corp, which will ensure your business entity structure is appropriately set up to ensure growth. Talk to a dental CPA in Maryland today to understand how you can switch from filing taxes as a C-corp to an S-corp. A professional dental accountants can help you make this change retroactively as well. A member of our certified dental accounting firm can help you understand the benefits of filing your taxes in the correct category.

If you’ve set up a DPC or a dentistry professional corporation when setting up your business, then you made the right decision. You can “share income” with your family members as dividends, provided they work with your practice at least 20 hours a week throughout the year. You can share up to $30,000 without significant tax implications per member of your family.

Unsure if you’ve set up the business entity structure currently? Contact Sigma today to get a free consultation and to learn why dentists need a specialized dental accountant.

Children age six and above can legally be employed by a business in the United States. You must consult a professional Dental CPA like Sigma to learn how you can use the annual tax-free limit to share your tax liability with your kids. These limits are updated regularly, making them difficult to track but easy to implement if done by a professional.

You’ll be able to pay your kids by showing how you use them as models in your marketing and advertising or how they contribute to the upkeep of your space. This tax-free money that you can give to them every year can be used to fund their college education, pay for private school tuition, or be invested into a ROTH IRA.

Talk to a professional dental bookkeeper and accountant today to ensure you set your children up for success in the future.

If you don’t have an accessible website to help you market your business, you’re missing out! The world is digital, and if you don’t have a digital presence in today’s day and age, you practically don’t exist.

The IRS has allowed dentists to write off up to 50% if you upgrade to an accessible dental website. This move aims to ensure adherence to the ADA – Americans With Disabilities Act. Most dentists think that the ADA only applies to physical offline locations, but as things quickly move online, various online assets like an accessible website become a necessity for any dentist.

If you’ve recently upgraded to an accessible website or plan on moving to a new website, then talk to a professional CPA for Dentists in Maryland and understand how you can use that to your advantage

You may have just entered the industry and may not plan to retire anytime soon, but it never hurts to prepare for the future. Generation wealth for dentists can be built by accurate planning and timely execution.

There are many options available to help you plan for a stable retirement, right from a simple 401(K) to different kinds of IRA and everything in between. These options might confuse you, a dentist, but a specialized dental accountant like Sigma knows which plans are suitable for the type of investor you may be.

The plans you choose will be dependent on the size of your practice, your age, number of employees, so on and so forth. Talk to a dental accounting specialist who can help you plan for your retirement and ensure the wellbeing of your employees when the time comes to move on.

Did you know you can claim tax deductions on the annual holiday party you organize during the festive season? You can claim up to 100% deductions on six meals and entertainment if you invite all of your staff to the function. The deductions you lose by failing to reclassify these expenses into a separate category amount to 50%.

A professional tax consultant for dentists can help you classify your claims and ensure you utilize tax deduction to the maximum extent possible. That’s why it’s crucial to hire the right dental bookkeeper and dental tax consultant.

These five tips will help you save up on your tax liability and ensure that you prepare your taxes while providing maximum benefit to your dental practice. Talk to one of our experienced dental accounting team members to learn how we help dentists prepare taxes and ensure compliance while saving you money.

Several years ago, a friend of mine told me this story. There was a small but thriving dental practice owner in the tri-state area who lost $350,000 over the course of 24 months. Surely you wonder why he lost the money? The simple answer – Employee theft. Their trusted administrative assistant was quietly embezzling money out of business and into their own pockets. So, how did you come to know about this? By meeting a professional dental accountant. The local CPA they had hired was unable to spot this nefarious activity because they didn’t specialize in dental accounting and didn’t consider the possibility that the funds were being misappropriated. What can we learn from this story? The need for specialized dental practice accounting. That’s correct. So to answer your question, Yes, a dentist does indeed need a specialized dental accountant.

There are a fair number of reasons why a dentist needs a professional dental CPA. They can help you cut costs and grow your revenue with the help of financial housekeeping. The job of a dental account is not just keeping track of your books or maintaining your accounts but also ensuring that you avail of all the schemes and programs run by the government to help small businesses. They also monitor that you’re always compliant with the policies. Tax preparation and optimization is another vital task of any professional dental CPA. Several experienced CPAs in Columbia, Maryland, provide virtual CFO services aimed at helping dentists scale their practice with the help of budgeting, forecasting, planning, and strategic implementation of financial decisions. For ambitious dentists looking to expand and scale their dental practices, the guidance and mentorship of a virtual CFO are invaluable.

Many small business owners and dentists tend to overlook some crucial elements when selecting a professional dental accountant for their business which can end up costing them a lot in the long run. Here are some factors you should consider when hiring an experienced dental CPA for your dentistry practice.

There are CPAs who are generalists, and then there are CPAs who specialize in serving a particular segment of the industry. During your next meeting with your CPA, ask them about their range of services and how any additional services that they recommend may have an impact on your revenue. If your CPA offers only a few services, then it may be time to switch. Call our expert dental accountants today to schedule a free consultation.

CPAs serve a vast array of customers and clients across industries which is why you must look at the level of experience and expertise they bring to the table when looking for your next dental CPA. An experienced dental accountant will help you optimize your tax position, claim necessary deductions, avail specific governmental programs, and save money. Dental accountants can often act as the jack of all trades and help you achieve your business goals quickly while ensuring accounting compliance.

Accounting is a complex field, and many dental accountants don’t transparently disclose their activities and strategies. An accountant who isn’t openly communicating, guiding, and mentoring you may not be a good fit for your business. Therefore, it’s vital to look at the level of transparency and the quality of communication they offer.

Businesses function on two essential components, revenues, and costs. The value you derive from incurring the cost of hiring a professional dental CPA should be more than the cost itself for it to be a valuable investment. Choosing the best option doesn’t mean choosing the cheapest one. It would help if you weighed the benefits of your investment with the costs. We at Sigma offer packages built for small dental practices to help them grow with ease. Contact us today to learn more about our offerings.

For you to plan your dental expenses effectively, dental bookkeeping and accounting costs must be transparent and clear. You don’t want any unpleasant surprises down the line, do you? Ensure that the dental accountant you hire offers transparent pricing and is open to discussing all the costs involved in hiring them upfront before signing you on as a client.

You depend on your dental account for all kinds of things that have to do with your money and finances. Would you want to work with someone who isn’t able to answer complex questions you may have from time to time? No, you wouldn’t. As someone who has a background in accounting, you’d expect your dental CPA to answer any type of money-related question you may have openly and transparently.

The best people to work with are those who can always provide you with the correct answers whenever you have a question. They can only do that if they have a firm grasp of what they must do and what dental practices need from their accountants. So, there we have it! We hope you understand why we believe that dentists need specialized dental accountants. Do you need help finding a good dental CPA? Not anymore! Get in touch with the best dental accountant in Maryland today and schedule a consultation.

Dental practices require extensive accounting and bookkeeping to keep the practice running smoothly. Many dentists ignore accounting, auditing, and bookkeeping for their dental practice until the end moment, which often results in chaos during the filing season. You may think, why do I need a professional bookkeeper when I can have my spouse, assistant, or a friend do it? Well, this blog will answer your question and many others. So let’s begin

The job of a professional bookkeeper may look simple, but it is often a lot more complex than it seems. A dental bookkeeper requires proper knowledge and understanding of the law, the tax code, and various accounting standards. A bookkeeper usually handles all the financial transitions for any dentists or medical practitioners, records your purchases, sales and expenses, develops systems, and much more. Experienced bookkeepers like the team at Sigma also helps dental practices get a holistic snapshot and overview of their businesses’ finances, projected growth forecasts, and more. The value of data and information that you get access to by working with a professional dental bookkeeper is immeasurable, which is why we always recommend small businesses hire an experienced dental bookkeeper.

A novice may get the job done, but would they do it well? The answer to that can only be found when you hire a professional dental CPA for your dental practice.

You chose the noble profession of helping your patients get better. Why not focus on doing that while allowing professionals to help you manage your businesses’ finances? A professional dental bookkeeper will enable you to focus on your core competency by taking over all the hassles of dental taxation, bookkeeping, accounting, auditing, and more.

Running a small dental business or a medical practice is hectic. Some invoices or dues may slip your mind, which can end up putting you in a sticky situation. A professional dental bookkeeper is tasked with keeping track of all your income and expenses and can inform you of any potential cash flow problems they may predict coming and even make necessary provisions for it.

A professional virtual bookkeeper for dentists works with your accountant and tax consultant to ensure that all your tax liabilities are cared for while ensuring that you don’t pay a dime more than you owe. The taxes saved will far outweigh the costs of hiring a professional bookkeeper for your dental practice. A bookkeeper will also provide you with a year-end financial statement which will help you plan the following year for your small business and prepare for any expansions based on your growth and forecasts. Would you like to hire an experienced team for dental bookkeeping service at an affordable price? Look no further! Sigma is here to help you. Get in touch with one of our expert medical and dental CPAs today.

It is natural to apply for grants, loans, and programs offered by the government in the current environment. In the unfortunate scenario that your small business or dental practice is audited by the IRS or state, having up-to-date records of transitions will help you navigate the complex maze of compliances. We at Sigma expect to see an uptick in the number of audits conducted by the government agencies for small businesses that have availed Covid-19 schemes and benefits. Is your dental practice prepared for an audit? Contact our CPA for dentists in Maryland to ensure your books are maintained to the tee, so you’re always prepared for an audit.

If you’re ambitious and looking to expand your dental practice, having your books in place is vital. Investors and creditors such as banks often require detailed financial records, forecasts, analysis reports, and more which can be a chore. A professional dental bookkeeper ensures all your documents are updated at all times, which makes it extremely easy for you to secure funding. If you’re a veteran and plan on retiring anytime soon, accurate financial records make it easy for you to sell your business when the time comes. Is it time to start planning your retirement? Get in touch with one of our expert dental CPAs from Maryland today!

Spending all your time working on your business means missing out on the finer things in life. Hiring a professional dental bookkeeper helps you free up your time to spend time with your family and friends while your business works for you and not the other way around.

Dentists always pay their debts! And paying them on time ensures that you don’t end up paying hefty fines or interests. A bookkeeper ensures bills are always paid on time to keep you debt-free.

We hope by now you understand the importance of hiring a dental bookkeeper for your dental business. These reasons make the benefits of hiring a professional CPA for dentist and dental accountant for your small business or dental practice abundantly clear. If you’re looking for the best dental accountants and dental CPA in the United States, then you can pause your search. You’ve found them! Contact our team of professionals at Sigma today to schedule a meeting with one of our expert dental CPA to learn how we can help you get top-notch accounting and bookkeeping services while keeping your costs on the down-low

1 -Build a Solid Foundation to keep as much income as possible by getting the proper corporate and income structure, tax planning, accounting, payroll, and financial platform. Forward-thinking small business owners understand the importance of reliable reporting based on accurate data. Are you leveraging data to make sound business decisions? 2 – Grow Income & Wealth by cash flow management, following up on the “big picture” and “long-term vision of the practice, tapping on the growth opportunities in new markets, products, and new service lines. What are your cash leaks? Are you creating maximum cash or losing it down the drain? Do you understand the difference between profits and cash? For example, you could make $250K profit a year but when you look at the bank account and it shows only $10K. Where did the rest go? 3 – Create Wealth by ensuring that the risks are spread out through passive income investing, taking advantage of maxing out tax-advantaged retirement saving accounts, and funding 529s. Saving income into a qualified retirement plan starting at the youngest age possible can reward Dentalpreneur with the power of compounding growth over a lifetime. The longer recurring deposits can be invested in a diversified portfolio, particularly when savings are pretax and grow tax-deferred over decades, the greater the likelihood that this will be the most beneficial financial opportunity available. Do you have assets that produce alternative income so that if you stop working the income still comes in? Have you re-evaluated and devised a retirement plan to save by adding a generous match and allowing a profit share component to shelter money from Uncle Sam via tax savings? Two major hurdles to building wealth are starting late and high debt! There are THREE types of dental practice owners when it comes to creating wealth. Type 1 are those that are carefree -they sleep and don’t think about creating wealth and financial freedom until it is too late. Type 2 are those that are too busy working to work ON their business… This is where most dentists are. They work long hours generating income but are unable to use that income to grow and create wealth. Type 3 is where we all want to be. We want to go to sleep and when we wake up, we are richer than when we fell asleep the day before! Jump on complimentary 30 minute consultation. Book your call today, click here

Not every dental firm hires the right dental accountant. And if you hire the wrong accountant, not only will they make a mess of your finances -­ they’ll cause your business to literally bleed cash!

But how do you know when you have the wrong Dental CPA on your team? What red flags do you look for in an accountant that should make you run in the opposite direction?

Not all businesses are created equal, and the accounting methods and practices that work for one company will fall flat with another. A skilled Dental CPA will design specialized reports that they can use just as you use a patient’s radiographs for evaluation, diagnosis, and treatment planning.

The Dental CPA analyzes such questions as:

• How is the financial health of your practice?
• What can you do now to minimize taxes next April?
• Is the office using “best practices” based on the CPA’s knowledge of other successful offices?
• Is the dentist working smart or just working hard to generate revenue?
• Is the production appropriate for the number of personnel?
• Is it time to add another dentist?

Some dental accountants want to get the job done with quickly and will cut corners, others just want to do the bare minimum.

When you hire a dental accountant that only does the bare minimum, you’re losing out on an opportunity to both save and make money -­ which will hurt your company’s profitability in the long run.

Part of the value of hiring a dental CPA is the expertise they bring to the table in finding innovative ways to save your business money. The right dental accounting firm can help you find grants and government funding that can decrease the amount of money you need to spend in order to conduct your business activities. They should also be able to find creative dental tax relief options that put more money back into your pocket come tax season.

As a dentalpreneur, you need to keep your finger on the pulse of what’s going on in your practice -­ including your financials. And it’s your accountant’s job to explain your financials and break them down in a way that makes sense to you -­ free of confusing statistics or impossible-­to-­understand financial jargon.

If your accountant gives you the run around whenever you ask about your finances and can’t explain the state of your financial affairs in a way that makes sense, chances are they’re draining your money.

If your dental accounting firm talks circles around financial issues and can’t explain the current financial state of your business, it’s time to find a new accountant.

With so many things to manage -­ like managing the books, filing your dental taxes, generating financial reports, and looking for money-­saving opportunities for your business -­ you need to work with a professional dental CPA who’s on point, organized, and doesn’t allow anything to go unnoticed. Because if your dental accountant is disorganized, you WILL lose money. When you work with a disorganized accountant, things can and do fall through the cracks. Important tax documents will be filed late (or not at all). Reports will be inaccurate. Your books will be balanced incorrectly.

All of which costs you money. If you want to protect your money -­ and your dental business -­ you need to work with a specialist dental accountants at the top of their game. The kind of accountant so organized, the thought of a single number out of place keeps them up at night!

Ask your accountant the systems they use to stay on top of their clients’ finances. An organized accountant will have highly structured systems for ensuring their client work is managed properly.

Sigma Accountants is a full-­service Dental CPA firm that specializes in dental accounting, taxation, and financial services for dental practices. We offer the highest level of dental CPA services to our clients to take the stress out of financial management with dental accounting services tailored to your specific needs. Our job is to make managing your dental finances as easy and simple as possible while offering creative solutions to put money in your pocket -­ not drain it. When you work with us, you don’t have to worry about all those money-­murdering mistakes that bleed money from your business. Our dental accounting firm offer: • Financial reports that are easy to understand -­ even if finances aren’t your strong point (and if you don’t understand them, we’ll work with you until you do) • A firm that’s dedicated to understanding your business -­ and overcoming the unique financial challenges your business faces in today’s market We will work tirelessly to offer you the financial solutions you need to elevate your dental business and sleep easy at night, knowing the financials of your business are in the best possible hands. Ready to stop working with dental CPA Firm that bleed your money and partner with the best team in the business? Get in touch with Sigma Accountants today for a no-­obligation consultation and learn more about how we can help take your dental business to the next level.

As technology moves forward, the number of accounting softwares that claims to do it all keeps growing by the hour. You may think that software can replace a human dental CPA, but your assumption is unfortunately not valid. An experienced and reliable dental CPA in Maryland can never be replaced by algorithmically driven accounting softwares.

In today’s blog, we’re going to take a look at some of the fundamental reasons why any software can never beat a human CPA in Maryland. So, let’s take a look at some of the reasons that make a dental CPA invaluable to dentists.

Why Does Your Dental Practice Need A Specialized Dental CPA?

Before being a dentist, you’re a business owner who’s successfully running their business. A business owner has a whole host of duties and obligations, and as a dentist, you have even more responsibilities. Therefore, you need a dependable accounting firm in Maryland Columbia to help you organize your books and keep your business running smoothly.

An experienced dental CPA firm brings specialized expertise in helping dentists grow their practice, often exponentially. A dental CPA knows all the industry-specific deductions and subsidies you can claim to reduce your tax liability and increase the amount of money you take home.

A real dental CPA is also well aware of all the strategies you can use to plan your taxes effectively while you clear off any debt you or your business may owe. You’d be surprised to know that debt can be good under certain conditions.

How Can A Real Human Dental CPA Help Your Business?

A dental CPA firm understands your finances and uses them to illustrate opportunities and risks involved in your business. A Small Business Accountant from Columbia MD acts as an advisor and helps you grow your business. At the same time, you focus on providing the best healthcare services to your customers.

Are you looking to expand your business and improve the financial health of your business? Contact Sigma, the best accounting firm in Columbia, MD, specialists in dental practice accounting today.

Why Is A Real Dental CPA Better Than Any Software?

A Human Has Real-World Experience

We’ve developed excellent softwares like QuickBooks that can ease our lives. However, humans hold a significant edge over the softwares they have developed as any software lacks real-world experiences.

Experience helps a real dental CPA beat any robotic or computerized accountant with ease. These online bot softwares are meant to aid a real dental CPA, not replace them.

At Sigma, we use various softwares like LivePlan, Xero, and QuickBooks to aid our accounting and bookkeeping process. You can know more about us here.

QuickBooks is the leading cloud accounting software used across the country to enable collaborative accounting between dental practices and CPAs based in Maryland or across the country. This business management software allows CPAs to help businesses across the globe by providing growth-inducing insights.

We also help businesses that use Xero as their platform of choice. Xero allows businesses to take impactful actions that have a measurable impact on business performance.

A Human Understand Business

Businesses fundamentally function on two things, revenues and costs. Softwares can’t ascertain what type of expenditure is a long-term revenue-making expenditure and what’s an actual cost to your business.

The lack of human understanding is the biggest downfall of any accounting software, which is again why a real dental CPA firm is better than any software you can ever use for accounting and bookkeeping.

A Human CPA Brings Specialized Awareness And Insights To The Table

An experienced dental CPA accounting and tax services provider are well aware of the expenses that come along with running a dental practice. They bring specialized knowledge to the table and help you decide the most optimum equipment that your practice needs. They are well aware of the rapidly changing industry.

They are also cognizant of the common problems dentists and doctors may face in running their day-to-day practice. A dental accountant will stick by your side and help you navigate any complications that may come along the way.

A Human CPA Will Design Your Business According To Your Specific Requirements

A real CPA understands that not every business can be structured the same, and that’s why a reliable CPA in Maryland will design your business practice according to your individual needs and requirements.

If or when a partner has to join your practice, a CPA in Maryland will help you safeguard the interest of both parties.

A Human CPA Will Help You Plan For Your Retirement

In the pursuit of growing their dental practice, dentists often forget to plan appropriately for their future and retirement. An excellent dental CPA will understand your goals and work with you to ensure you achieve financial freedom and plan your retirement appropriately.

A Human CPA Is Emphatic

A human can understand situations and empathize with clients to help alleviate any sort of troublesome situations they may be in. A robot won’t stand by your side, but a human always will. Human empathy has no bounds.

By now, we’re confident that you understand why a real Dental CPA is the best choice for your business and why no software can ever replace a human CPA services provider.

Sigma is the leading tax accountant in Maryland that helps businesses with small business accounting services in Columbia, MD. If you’re looking for help with accounting, bookkeeping, and managing your business, please contact us today and learn how we can help your business grow.

As a dentist, you sure love improving the smiles on your customers’ faces. But, does accounting and bookkeeping make you frown? According to other successful practicing dentists, availing services of a capable and reliable Dental CPA in Maryland will be the best gift that you’ll give to yourself.

Dental practice accounting can seem easy to an outsider, but as a Dental CPA firm, we understand all the complexities that come with running a dental practice.

If you’re reading this post, we can safely assume that you don’t have access to a dependable dental CPA and are looking to understand how to find a reliable Small Business Accountant in Columbia, MD, who can help you by providing Dental CPA services. Read on till the end to learn the things you should keep in mind when you hire your next Dental CPA firm.

1. Establish Your Requirements

You won’t perform a dental surgery before understanding why the patient needs the surgery. Similarly, why would you start looking for a dental CPA accounting solution without understanding why you need a specialized accounting firm from Maryland to help you.

A simple question you must ask yourself – Why Do I Need A Dental CPA?

If you can’t answer it, allow us to Sigma to answer. Contact us today!

If you are an experienced business owner who understands precisely what they need help with. In that case, our suggestion is to gain clarity.

You can gain clarity by asking yourself these questions –

• Do you need help with strategy?
• Are you looking to save tax using the experience of a tax accountant in Maryland?
• Are you tired of maintaining records and want to outsource your bookkeeping?
• Is compliance a massive hassle for you?

Once you are satisfied with your answers and clearly understand your requirements, it’s time to contact a professional dental CPA Firm in your area.

Don’t have a reliable Accounting firm in mind? Talk to us!

2. Begin The Hunt

Once you understand your requirements, you should begin your search. A great place to find a good Dental CPA is through a quick google search. Beware, ratings and reviews you see online can be faked, so look for someone in your vicinity and give them a visit. You can also ask your financial consultants, friends, family, or anyone you trust for their recommendation and go from there.

Look Into The Kind Of Credentials And Experience They Bring To The Table.

Most accountants hold a single degree, unlike Jigna M. Patel, the lead at Sigma, who holds a CPA, an MBA, and a CGMA. She’s also a QuickBooks® Online ProAdvisor and LivePlan Expert Advisor.

Software Matters!

There are numerous softwares used in the industry for accounting and bookkeeping. Most softwares are intercompatible. However, if you use a particular software like QuickBooks for your accounting, it’ll be highly beneficial to find an accountant who also specializes in using QuickBooks, which would make the workflow a lot smoother.

Specialization and Niche Knowledge

Many accounts are generalists and work with a variety of different clients and businesses. This makes them a good option for small business owners. However, as a dentist or a medical practitioner, your accountant needs to have domain-specific knowledge to make things easier for you.

A specialist is less likely to question you about the basic operations of your practice. A specialized dental CPA can also help you claim any deductions or tax credits that may apply to your business.

Proximity Is Essential

Thanks to the influx in technological solutions for accounting, the need for physical proximity is reduced to a fair extent. However, it is recommended that you find a dental CPA in and around the area you operate in so they are aware of the state’s laws and regulations.

If you ever need to go in for a discussion, physical proximity makes it easier to conduct strategy meetings. Sigma is an accounting firm in Maryland that helps dentists grow. Get in touch with us today.

Do Your Due Diligence

Look into their past clients or experiences. Ask around and see if anyone in the industry avails their dental CPA services and how happy they are with the results.

3. Understand The Costs

A business fundamentally runs on two things – Revenue and Costs. Once you find a reputable accounting firm specializing in dental and medical accounting, look into the costs associated with hiring them for your business.

Often, what may seem expensive initially ends up being cheaper in the long run when compared with the outcomes and results you achieve from buying the product or service.

4. Make The Switch

Change can often feel a bit terrifying. A minor hassle in the present can save you a lot of headaches in the future. Once you find a reliable dental CPA firm like Sigma, don’t be afraid to make the switch.

We hope by now you have clarity on the next steps you must take to expand your business and free up time for yourself. If you have any questions for us, please feel free to contact us. We invite you to drop by for a cup of coffee and discuss how Sigma can help you grow.

You’re one of the highest-paid people in the country: dentists and specialists consistently rank among the most successful working professionals in the U.S. Part of the American dream is to own your home and own your own business. In today’s business environment, there are many challenges facing the next generation in achieving the American dream. The repayment of student loan debt is one of those challenges. Are you looking for a Tax Accountant in Maryland to help you? Studies show that recent dental school graduates can be overwhelmed with their student loan debt. Many are afraid of taking on more debt, such as that for starting or purchasing a practice. New and complex tax laws and burdensome government compliance can also be factors when new dentists choose not to own a practice. A CPA For dentists in Maryland can help you manage your finances and optimize your accounts to help you start, grow and expand your business. Sigma Accountants are the best Maryland based accountants for Dentalpreneurs As a dental CPA and provider of accounting for dental practices, my role is to help dentists become entrepreneurs, and to guide them toward finding the rewards and minimizing the risks of realizing the American dream. Are you ready to realize your dreams? Contact our Accounting Firm In Maryland today!

Every dentist coming out of medical school has a mountain of personal financial debt from student loans to credit card dues.  Besides starting a practice, paying off their student debt is the number one thing on a dentist’s mind, but one thing medical school does not teach you about dentistry is that you need to spend money to make money in a business. A reliable Dental Accountant in Maryland offering Dental CPA Accounting Services can help you plan for your future.  When first starting a practice, many dentists will shy away from taking a business loan because they associate their personal debt with their business debt.  What they don’t understand is if they take out the business loan, they will have the necessary capital to improve their business, allowing them to pay off both loans faster.  When first starting a practice, if the dentist puts the business first, the personal debt will take care of itself. Confused about your growth? allow our CPA Firm In Columbia MD to help you.

• Your Goal should be creating savings, not “getting out of debt.”
• You pay higher taxes if you have no
• Principal reduction of debt is not deductible

If you didn’t know these, you need an outstanding accounting firm based in Maryland to help you. Contact us today!