Practice Financial & Accounting Management: Decrease Taxes & Increase Value

  • 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
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Tom Bodin, is an ADA CERP certified speaker and has been a Practice Integration Advisor with Buckingham Strategic Wealth since 2015. As a Practice Integration Advisor, Tom provides comprehensive financial advisory services to dental and medical offices, including tax, pension and retirement planning. Prior to joining Buckingham, Tom was the Chief Financial Officer and Chief Economist for the Office of the Indiana Attorney General, Tom earned a bachelor’s degree from Butler University in 2002 and an MBA, with certificates in finance and marketing, from the University of Indianapolis in 2004. He is also a Chartered Financial Analyst® and CERTIFIED FINANCIAL PLANNER™ professional. Outside of work, Tom is a member of the Board of Consulters for Saints Francis and Clare Parish in Greenwood, Indiana. Tom also enjoys playing woodwind instruments.
Chris Cuadros, CPA is the owner and head CPA of Crossroads. He began Crossroads in 2008 specifically for dentists and has expanded the practice to include other private health care practices. Chris is originally from Louisville, Kentucky and is a graduate of Hanover College. He earned his Masters in Taxation from Indiana University Kelley School of Business.

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. 

After this course attendees will be able to:
  • 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
Recommended Audience: Dentist, Office

The Crossroads Tax Advisors grant has been applied to this course.