Why Every Practice Owner Needs an IRS Online Account
As a practice owner, you check your practice’s numbers constantly: collections, overhead, payroll. But when was the last time you looked at what the IRS has on file for you? Most doctors only hear from the IRS by letter, usually when something is already wrong. An IRS online account changes that. It’s free to set […]
The Financial Checklist for Medical Practice Owners: 6 Areas to Review Every Year
A financial checklist for medical practice owners is an annual review of business structure, tax strategy, asset protection, retirement planning, estate coordination, and exit readiness, helping owners annually identify gaps, align advisors, reduce avoidable risk, and make better-informed financial decisions. Medical practice owners make financial decisions in two worlds at once: the practice and the […]
Why Your Medical Practice P&L Can Mislead You—and What Cash Flow Is Trying to Tell You
Medical practice cash flow is the movement of money into and out of a practice from collections, payroll, overhead, debt, taxes, owner distributions, and capital spending, showing whether reported profit is actually translating into available cash for operations and decisions. Revenue is growing. Patient volume looks healthy. Your profit-and-loss statement shows a profit. So why […]
Booming or Slowing Down? Why Your 2026 Tax Strategy May Need a Reset
The economy is sending mixed signals, and medical practice owners and other business owners are feeling that unevenness firsthand. Some practices and companies are growing, hiring, adding providers or staff, investing in technology, opening new locations, and trying to keep up with demand. Others are dealing with slower collections, tighter margins, rising payroll costs, reimbursement […]
IRS Announces Mid-Year Optional Vehicle Mileage Rate Increase
Article Highlights: Mid-year Increase Items Included in the Optional Mileage Rate What Can Be Deducted in Addition to the Optional Mileage Rate Switching Methods With gas prices soaring it has been expected the IRS would increase the mileage rate that business owners can deduct for vehicle use instead of keeping a record of actual expenses. […]
IRS to Provide Automatic Penalty Relief to Normally Compliant Taxpayers
Most taxpayers don’t plan to get hit with an IRS penalty. Usually, it happens because life got in the way: a bill was missed, a return was filed late, or an estimated payment did not get made on time. For years, one of the best forms of relief in that situation was an IRS program […]
Video Tips: Timing Capital Gains for QOFs
Taxpayers should remember that certain capital gains realized in 2026 can be deferred into Qualified Opportunity Funds (QOFs) under the 180-day rule. This applies to gains realized on or after July 5, 2026, as well as gains realized anytime during 2026 through pass-through entities. Consequently, it may be beneficial to delay transactions or QOF investments […]
Mid-Year Tax Planning Is Not a Luxury. It’s Where Real Planning Happens.
There is a familiar habit among business owners that makes perfect sense until you look at the cost of it: “I’ll worry about taxes in December.” By then, of course, the year is mostly over. The numbers are more or less locked in. The equipment is already ordered. The expansion decision has been made. Payroll […]
Maximize Pay, Minimize Taxes: A Guide to Fringe Benefits for Employers and Employees
Employers of all sizes can assemble a portfolio of fringe benefits that materially increase employees’ total compensation while delivering tax advantages to both the business and employees. For human resource professionals and small-business owners, the meaningful task is not simply offering perks but understanding who qualifies for each fringe, what statutory or administrative limits apply, […]
The Hidden Homeownership Tax: Why Mortgage Shopping Can Be a Smart Financial Move
For many homeowners, the most expensive financial mistake they make may happen before they ever move into the house. It is not necessarily buying the wrong home, choosing the wrong neighborhood, or underestimating maintenance costs. It may be accepting the first mortgage quote they receive. Recent Bankrate research has brought attention to what it calls […]