CONTACT INFORMATION:
Manhattan Location
225 W35th St, 5th FL New York, NY 10001
Phone:
(212) 736-0055
Stamford Location
350 Bedford St, Ste 303 Stamford, CT 06902
Phone: (203) 356-1061
Long Island Location
487 Jericho Turnpike, Syosset, NY 11791
Phone: (212) 736-0055
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225 W 35th St, 5th FL., NY 10001
Accounting for medical practices is a specialized field that combines fiscal responsibility with healthcare services. It plays a crucial role in managing the financial health of medical practices, ensuring compliance with regulations, and optimizing revenue. Medical Practices are bombarded by game-changing issues – from insurance regulations fluctuating at warp speed to regulations that are unsettled and unsettling.
To remain viable and relevant, players in the medical practices space must be on the cutting edge of understanding how to manage the trends, pressures and opportunities for success. Having experienced and insightful advisors who can help provide the knowledge necessary to make strategic decisions, optimize profits and enhance operating performance are keys to remaining viable and thriving in this competitive sector.
Fortunately, Presti & Naegele Accounting Offices Medical Practice partners and professionals have just the expertise required. Since inception, P&N has provided solutions to a wide array of medical practices including surgi-centers, independent physician practices and group specialty practices.
Our experience equips us to offer sound advice that supports strategic decision-making, operating performance and profit optimization.
COMMON RECOMMENDATIONS TO MEDICAL PRACTICES
Entity Structure
Choosing the right business entity, like an S corporation or LLC, for potential tax benefits and liability protection.
Business Expense Deductions
Properly categorizing and deducting business expenses, including medical supplies, office rent, staff salaries, and professional development costs.
Equipment Purchases
Taking advantage of Section 179 or bonus depreciation for equipment purchases, which can offer significant tax savings.
Retirement Planning
Maximizing contributions to retirement accounts like SEP IRAs or 401(k)s, which can reduce taxable income.
Health Savings Accounts
Utilizing HSAs for tax-advantaged savings on medical expenses.
Cost Segregation
For those who own office buildings, conducting a cost segregation study can accelerate depreciation deductions.
Tax Credits
Taking advantage of available tax credits, such as those for energy efficiency or employment.
Our specialized financial solutions are meticulously crafted to address the unique challenges of medical practices, ensuring operational efficiency, compliance, and sustained growth. From tax strategies to strategic financial management, our dedicated team supports healthcare professionals in navigating the intricate financial landscape. Partner with us to elevate your medical practice's financial performance and achieve enduring success.
Presti & Naegele Accounting and Advisory Services Include:
Explore the difference Presti & Naegele can make in the success of your medical practice. Schedule a consultation today, and let's chart a course to financial prosperity in the realm of healthcare excellence.
For inquiries or guidance from our experts, contact Presti & Naegele today. Your success awaits!
collaborate with Presti & Naegele
We welcome the opportunity to understand your financial needs and tailor solutions for success. Join our distinguished clientele who have experienced the excellence of our services. Let's embark on a journey toward financial prosperity together.