- Saturday 1/28/2023
- Time: 11:00 am - 12:00 pm
- Course Code: 691SL
- Cost: No Charge
- Room Location: BCEC Room 258 B
- Credits: 0 CE Hours
Practice Financial & Accounting Management: Decrease Taxes & Increase Value
In this course you will learn the key measurements for practice profitability and maximizing cash flow while decreasing taxes. You will learn how to appropriately benchmark your practice. How to manage and utilize debt to increase cash flow and practice value over time. How modern practice financial and accounting systems can increase visibility of key numbers in your practice and how to use these to manage your practice from a financial perspective. How you can leverage and design an appropriate qualified plan around your practice’s cash flow to mitigate your personal tax impact over your lifetime. And, how the value of your practice should fit into your personal and clinical life and ways to maximize it.
- Learn how to understand and interpret your practice P&L
- Learn the different measurements of cash flow: EBIDTA vs Free Cash Flow from Operations vs taxable income
- Learn how to measure profitability: Profit Margin, Marginal Profit, and Profit by Production Source
- Learn how to view practice debt in light of practice cash flow
- Learn how appropriate modern accountant tools can provide timely insight to practice financial management
- Learn how to navigate various qualified plan options to maximize tax benefits and retain profitability
- Learn about new tax laws to potentially lower your tax liability before end of year