Accounting for Dental Practices

Tax Savings Strategies

P&N works closely with dentists to identify tax-saving opportunities. From deductions to credits, we ensure that practitioners maximize their tax benefits while staying compliant with regulations.

Business Structure

P&N can help you explore the tax benefits of different business structures and choose the most tax-efficient option.

Metrics and Benchmarks

We create customized metrics and benchmarks for dental practices. These data-driven insights help dentists track performance, identify growth opportunities, and enhance efficiency.

Practice Overhead Analysis

Understanding practice expenses is crucial. We analyze overhead costs, evaluate billing processes, and recommend improvements to boost profitability.

Employee Compensation Plans

P&N assists in optimizing compensation plans for associates and staff. Properly structured plans can improve retention and incentivize performance.

Retirement Planning

The best retirement plan for dentists depends on your specific circumstances, income level, and long-term goals.  Dentists who work as W-2 employees often have access to employer-sponsored plans. Self-employed dentists have several retirement plans to consider.  Some of the most common ones are SEP IRA’s, Simple IRA’s, Solo 401K’s or Defined Benefit Plans. 

Estate Planning

Dentists need robust estate plans. Our specialists guide practitioners through estate planning strategies to protect assets and ensure smooth transitions.

Practice Valuation and Acquisition/Sale

Whether buying or selling a practice, accurate valuation is essential. P&N provides valuation services and guide dentists through the acquisition or sale process.  For buyers and sellers, understanding tax implications during practice transactions is crucial. 

Advisory Solutions that have a positive impact on practitioners’ profitability and quality of life

Professional Fees:

• Accounting and Legal Fees - Hiring professionals to manage your accounts and legal affairs is a deductible expense.

• Membership Dues and Licenses – Professional associations and licenses are deductible.

• Continuing Education Course Fees – Professional development courses are tax deductible. 



• Travel and Accommodation for Conferences: If you travel for conferences or workshops, the associated expenses, including travel and accommodation are eligible for deductions.