Running a dental practice requires more than patient care—it requires clean books, payroll accuracy, and tax planning. Below are 7 mistakes that cost dentists the most, plus practical ways to avoid them. Pair your practice with our Bookkeeping Services, Business Consulting, and Tax Preparation.
1) Mixing business and personal accounts
Co-mingling leads to tax risk. Dentists should keep a dedicated business checking account and reconcile monthly.
2) Poor cash flow tracking
Missed inflows/outflows strain payroll and vendor payments. We set up cash-flow dashboards and forecasts for dental offices.
3) Inaccurate payroll for staff & associates
Misclassified hygienists or late payroll taxes = penalties. We align payroll schedules with tax deadlines and 1099 reporting.
4) Ignoring overhead costs
Rent, supplies, labs, and equipment leases must be tracked to protect margins. We categorize expenses for benchmarking.
5) Delayed reconciliations
Waiting months to close books hides fraud and errors. We reconcile bank/credit accounts monthly with variance checks.
6) Weak documentation of deductions
Missed CE credits, equipment depreciation, or software costs = lost deductions. We keep your ledgers audit-ready.
7) Tax surprises
No quarterly estimates = IRS penalties. We forecast dental practice taxes with rolling 13-week planning.
FAQs
Do you handle payroll and 1099s for dental staff?
Yes—our payroll services include hygienist wages, associate 1099s, and compliance with dental labor rules.
How often should a dental practice reconcile accounts?
Monthly reconciliations are best. This prevents fraud, ensures tax accuracy, and keeps lenders confident.
Can you provide dental-specific financial reports?
Yes. We design profit & loss reports highlighting hygiene, chair time, and lab costs for better decision-making.
Ready for stress-free dental books?
We help dentists with bookkeeping, controller/CFO, and tax planning. Schedule Consultation
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