The Tax Anatomy of a Medical Practice – A Tax Prescription for a Healthy Practice
If It Is Not Recorded, It Cannot Be Measured In medicine, symptoms are recorded, tests are performed and progress is monitored. A medical practice should be managed the same way. If income, expenses, debtors, tax liabilities and cash movements are not recorded accurately, the financial health of the practice cannot be measured. Strong billings can […]
The Business Anatomy of a Medical Practice – Should You Incorporate Your Medical Practice?
A medical practitioner may assume that incorporating a practice is automatically the better option. That is not always the case. The decision depends on the practitioner’s profits, personal cash-flow requirements, growth plans, administrative capacity and whether the benefits justify the additional cost and compliance. For a broader comparison of the two structures, read: Sole Proprietor […]