Accounting for Medical Practices Washington D.C.

In Washington D.C.’s dynamic healthcare landscape, staying ahead demands a proactive approach to industry trends, overcoming challenges, and leveraging opportunities for growth. Partnering with experienced professionals who offer strategic guidance, enhance profitability, and streamline operations is crucial to achieving lasting success and stability.

At Presti & Naegele Accounting Offices, our Washington D.C. Medical Practice team brings unmatched proficiency to the table. From solo practitioners to group practices and surgical centers, we’ve been crafting tailored financial solutions to address the distinctive needs of healthcare providers since our inception.

Our experience equips us to offer sound advice that supports strategic decision-making, operating performance and profit optimization.

COMMON RECOMMENDATIONS TO MEDICAL PRACTICES in Washington D.C.

Entity Structure

Selecting the appropriate business structure, such as an LLC or S corporation, can deliver notable tax advantages while ensuring liability protection.

Business Expense Deductions

Tracking and deducting expenses like office leases, medical supplies, employee wages, and professional development costs can significantly reduce tax burdens.

Equipment Purchases

Utilizing tax benefits such as Section 179 deductions or bonus depreciation on equipment purchases can result in substantial financial savings.

Retirement Planning

Investing in retirement plans like SEP IRAs or 401(k)s not only secures future financial stability but also lowers taxable income.

Health Savings Accounts

HSAs offer a tax-advantaged way to save for medical expenses.

Cost Segregation

Owners of medical practices with commercial real estate can benefit from cost segregation studies to accelerate depreciation and optimize tax deductions.

Tax Credits

Taking advantage of incentives like hiring credits or energy efficiency tax credits can further reduce overall tax obligations.