Casey Moss Tax & Accounting

Dental Practice Accounting & Bookkeeping Services

Why Is Dental Accounting Important?

Keeping current and accurate financial statements should be a top priority for dental practices. Having concise financial data allows dental professionals to make critical business decisions at a moment’s notice. At Casey Moss Tax, we provide a tailored experience to dentists and oral healthcare practices, helping you minimize your tax obligations and improve your bottom line every year.

While we service many industries, dental accounting is one that requires more experience and industry knowledge than many others. Which medical supplies should be depreciated and which ones should be expensed? When should we recognize income from insurance providers? Should we outsource our medical billing? Questions like these require expert advice.

Common Accounting Tasks for Dental Practices

  • Cash vs. accrual: Determining which accounting method is best for your practice and which is the most tax efficient.
  • Income recognition: Analyzing your billing procedures and determining when patient pay and insurance pay receipts should be recognized on your financial statements.
  • Equipment purchases: Figuring which equipment should be depreciated and which equipment can be expensed in the year it is purchased.
  • 1099 preparation: Tracking your payments to 1099 contractors and other professionals in order to accurately prepare and deliver 1099 forms at year-end.

Dental Practice Tax Accounting Services

Accurate accounting is just one piece of the puzzle. Let our firm take the wheel and guide you through tax preparation and tax planning for your practice as well, helping you mitigate your tax liability and focus on running your business.

business tax prepartion

 Whether you’re an S-corporation, partnership, C-corporation, or a sole-proprietorship, Casey Moss Tax has you covered. Let us keep you up-to-date on tax law changes that are specific to dental health professionals, making sure you never overpay again.

personal tax preparation

We don’t just stop at business tax and accounting. In order to plan efficiently, it’s critical for your accountant to review and understand your entire financial picture. This includes your personal tax situation. For most small businesses, your business income directly ties into your personal tax return. Understanding flow-through income and planning for your personal tax obligations is critical for healthcare professionals.



payroll processing

Do you find yourself spending too much time worrying about payroll tax obligations and making sure your team gets paid on time? At Casey Moss Tax, we provide full-service payroll processing, including direct deposit and automatic payment of payroll tax liabilities. The less time you spend crunching payroll data, the more money you can earn doing what you do best.

tax planning

Understanding tax laws specific to healthcare professionals can make a significant difference for your tax liabilities. For example, maximizing your Qualified Business Income Deduction (QBI) is critical since most dentists are considered specified service businesses. Let us provide you with an array of options to plan properly and save money in taxes each year.

Get Back to What Matters Most with Casey Moss Tax and Accounting!

We understand that dentists and oral healthcare professionals are incredibly busy. It’s difficult enough managing  employees, servicing patients, and dealing with insurance companies, all while trying to keep an eye on your finances and tax obligations. Every hour spent on these tasks is an hour that could instead be spent taking care of patients and earning more money. Do what you do best, and we’ll do what we do best:

 

  • Technology utilization and accounting process innovation
  • Clear, regular communication and availability to answer your questions
  • Strategic tax planning and consulting BEFORE the end of the year
  • Experience with a wide variety of healthcare professionals
  • Communication of tax law changes that directly impact your business



Are You A Dentist Near Naperville, Illinois?

We want to work with you! Let our team guide you through our process so that you can focus on what you do best. Book your consultation today, or call Casey Moss at 815-953-6840.

Not a Naperville dentist? No problem! All of our services are also offered virtually. You can book your virtual consultation using the link above today!

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