In the News

Copyright 2017
Thinking about joining a medical practice? You obviously need to perform a due diligence investigation to help obtain basic financial information.
Copyright 2017

If you are starting a new medical practice, you may incur several different types of "pre-opening expenses." By pre-opening expenses, we mean those that are incurred during the period before the new practice is actually up and running and earning revenue. Special federal income tax rules apply to such pre-opening costs.

Copyright 2017

The IRS has a massive effort, launched in coordination with the U.S. Department of Justice, to identify and prosecute tax evaders from the medical profession.

Copyright 2017
Patients depend on physicians and assume they're empathetic. But when it comes to paying for services, a few patients expect that empathy to include letting your fee go if they ignore the bill.
Copyright 2017
These days, doctores find that many patients come into appointments having already diagnosed themselves based on information they found on the Internet.
Copyright 2017

Your medical practice, currently running as a C or S corporation, may be considering the idea of converting to a limited liability company (LLC) or limited liability partnership (LLP). Under the right circumstances, that could be a good idea from a tax perspective. Here's why: Both LLCs and LLPs can be treated as partnerships for federal tax purposes.

Studies show that only a handful of adults are visiting and using information from websites that rate physicians. For example, more than 80 percent of California-based adults say they use the Internet for health-related information, such as medical symptoms and diagnoses, according to a Harris Interactive poll commissioned by the California HealthCare Foundation.

Copyright 2017

Let's say a partner in your medical practice exits partway through the firm's tax year. How are partnership tax items for that year allocated between the departing partner and the remaining partners? There is more than one way to handle this situation. In general, three methods are allowed for making such allocations. (Source: Treasury Regulation 1.706-1(c)(2))

Copyright 2017

If there's one thing that can harm the success of a medical practice, it's having patients spending too much time in the waiting room. Appointment scheduling is a critical function of a doctor's office, yet many practices schedule in a seemingly haphazard fashion.

Copyright 2017

Nursing homes and personal-care facilities present many health and safety risks for their employees. In fact, combined with patient violence against employees, the situation has become so  serious that  the Occupational Safety and Health Administration (OSHA) has made nursing homes a top priority for safety inspections.

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