You deserve personalized, professional expertise when it comes to your finances. Since 1981, Owens & Bondell PLLC has offered a full range of accounting, tax and consulting services to small businesses and individuals, with an emphasis on the dental and medical fields.
(CAN I FEEL ORGANIZED AND REDUCE THE RISK OF EMBEZZLEMENT AND FRAUD?)
We have on staff highly trained and skilled bookkeepers that will complete all the necessary bookkeeping tasks monthly including bank and deposit reconciliations, reviewing practice software and payroll reports, and properly categorizing all financial transactions. The goal is to track every dollar coming in and going out and to categorize those dollars appropriately in order to create meaningful financial statements to help you better manage the finances of your practice and reduce the risk of financial fraud. We do not outsource our bookkeeping to a third party.
Financial Statement Preparation
(HOW DOES MY OFFICE OVERHEAD COMPARE TO OTHERS IN MY FIELD?)
As part of the bookkeeping process each quarter we complete a series of financial statements and help you analyze those statements for you to better manage your practice and make better financial decisions. These statements will typically include a report of all the income and expenses of the practice for the period and year to date, comparisons to your prior year, and comparing your practice overhead to others in your field. Having good financial information also is necessary to complete a solid tax plan for the year.
Tax Planning Throughout the Year and Year-End Tax Preparation
(AM I TAKING ADVANTAGE OF EVERY TAX STRATEGY AND DEDUCTION?)
Consists of mid-year and end of year income projections to determine your annual tax liability because tax planning is not effective if it is being done after the year ends. We will discuss equipment purchases, changes in tax law, and other various strategies to save tax. The goal is to know ahead of time what April 15 will look like so there are no surprises and of course, to lower your tax liability as much as possible within the law.
Payroll Processing & Quarterly / Annual Payroll Tax Reporting
(I'M A SMALL OFFICE, IS PROCESSING PAYROLL THAT COMPLICATED?)
Actually yes, payroll processing can be complicated. We offer a full payroll processing service for your office including direct deposits for employees, electronic tax payments, retirement plan payments, and other payroll compliance items. Having our own in-house payroll processing team allows for better communication, faster and more accurate adjustments, and ultimately better customer service. The goal is to help the client by keeping this service under the same roof as all other accounting and tax services.
Meetings, Communication, Correspondence
(WILL YOU RESPOND TO MY INQUIRY?)
We have regular meetings with our clients throughout the year to review financial statements, do tax planning, review deadlines, discuss any tax law changes, review retirement plans, and discuss any other important matters. We also provide and review periodically various topics such as industry updates, wage & benefit surveys, fee surveys, marketing surveys, HR issues, and fraud issues. Our office will also assist with Government correspondence, and we are easily accessible at other times for phone calls or emails. And finally, our vast network of dental and medical community contacts has enabled us to help with hundreds of little questions here and there. The goal is to make sure our clients know they can approach us with anything, and we can either help or point them in the right direction.
Looking to Purchase, Expand, or Start Up a Practice?
(I WANT TO BUY THIS PRACTICE, BUT HOW CAN I CONFIRM THESE NUMBERS?)
We have extensive experience in assisting clients looking at buying or starting up a practice. With our due diligence service, we can help review a practice's financial records to gain confidence in the seller's representation of their practice. Records such as financial statements, tax returns, and practice management software reports are among those reviewed. We will help gather and review sufficient information to determine that the agreed upon sales price of the practice is reasonable. Included in our report will be a comparison of office overhead to average, questions related to any inconsistencies regarding the numbers, and cash flow projections. The goal is to help the client determine if he / she, 1) wants to buy the practice, and 2) know the risks going into that purchase. Also, we can assist in navigating through all the steps involved in getting a new business going.
Contact Owens & Bondell PLLC at 602-995-0081 or send us a message if you have any questions about our services!