Tax Relief and Business Strategies for Dentists

[I]n just over a year of implementing the changes he advised we were able to: payoff John’s student loan 10 years ahead of schedule, remodel our clinic, save $30,000 in taxes, and increase our NET worth by $95,000!
Dr. John and Melody Barone
Mount Vernon, Washington

Jim helped us get an $11, 000.00 tax refund from the IRS within the first 3 months! Our collections have increased by $120,000.00 in 7 months!
~Anik St Martin, D.C. and Darin Shook, D.C.

We recouped our fees for his first year consulting just by the re-submitting of our previous two years tax returns. I hate to say anything negative about anybody, but he showed holes in my accountants knowledge that I was paying a premium for yet suffering greatly from, luckily I was able to recoup from many of them.
~Sean J Fryer, DC

We know the issues medical clinics and small businesses face, because we have helped over 250 medical and small businesses operate more efficiently, legally, and profitably over the last two decades.

Our 23+ year legal and business background have helped clinic and business owners get more tax deductions, pay off debt, and become more profitable by streamlining their offices and businesses so they can get ahead and achieve their goals.

There is no one else in the country — no practice manager, accountant, or attorney — that provides the scope of services and bottom line results that Bowen Consulting does. No one.

Contact Us for a Tax Return Review >>

Office/Practice Management for Dentists

During our meeting we talked about my corporate status, James looked over my returns, and immediately showed me numerous errors. What I appreciated was that James didn’t belittle me or act arrogant the whole time. Mr. Bowen explained to me how much I would save using a trustworthy knowledgeable accountant. By the end of the dinner I knew that I would be losing money if I didn’t act right then and there. James first started with my tax returns, and saved me over 7k personal and 30k corporate. That alone was way worth it. Next I changed my corporate status and began taking dividends and saved 16k the first year. Money that I was able to pocket rather than send to our overspending government.

James makes it a point to get to know his clients and he came to pay a visit to my office to see how I worked. When he first walked in he said “when are we going to demolish this place and get you a real office”. Again, I was hesitant and wanted to explain all of the obstacles that were stopping me. I think the most valuable thing that James brings is that he can see you immediately for you potential, not your obstacles. I had been spinning my wheels for so long I stopped believing in myself. James resuscitated those dreams. He put me in contact with a terrific banker who was open to my proposal, and approved me for a new office loan!

A lot has changed over this past year......I am purchasing new equipment, reenergized my thirst for learning new procedures, and am breaking ground on my new office almost tripling in size. Jim Bowen is now a life long friend. I am thankful for his time, effort, and his analysis of potential. He truly cares and has an amazing knowledge on how to streamline your corporation, and that crosses over to any health profession. I would strongly recommend Jim to any office of care.

Pablo Nicasio, DDS

About a year ago I realized that my office was not running in an ideal manner. Specifically, I was working too hard but not having much to show for it. ... With Jim’s advice and guidance I am working much smarter, not harder, and my office is actually running more like an efficient corporation. My stress is less, my income is significantly increased, and we have a great game plan for the future.
~David H. Spear, Ph.D., D.C.

Initially I was very skeptical of any consultant because I didn’t think they could improve my business, much less understand it. ... Right away [Jim] pointed out things I can do to streamline and improve my business image. He also went through my tax returns, business structure, marketing plans, patient processing, and billing operations. Then he started making suggestions for improved revenue generation and more importantly take home income. He then provided me with a customized seventeen-page report on ways to improve the practice. ... I can already see a significant increase through 2009.
~Jason West

I ... have tried 5 different practice management companies. All of them taught me valuable lessons, but none of them were able to budge my practice numbers or my bottom line. Jim Bowen not only got to the heart of my practice dysfunction, he taught me how to run a business. ... [M]y practice has grown 30% in just 2 months! Jim’s strategies are simple and they work — by far the best business coach I’ve ever had.
~Dr. Tom Holt

Are you passionate about dentistry and enjoy your work, but when it comes to the business-side of your practice, do you feel like you’re falling short? How many different “hats” do you wear while running your business in a day? In a week?

Most small business owners lack one of the single greatest assets that can significantly increase the success of their company — a Chief Financial Officer (CFO). Many think CFOs are for large corporations, with a complex structure, hundreds of employees, and millions of dollars.

This not true.

Professional offices need the help of a CFO. They have many of the same concerns and responsibilities of a larger company but operate with a limited staff and much less financial backing.

Many small business owners think they can’t afford a full-time CFO.

But there is a solution!

Let Bowen Consulting Group act as your CFO and provide the services and protection that your professional office needs. We have assisted over 250 medical & chiropractic offices, attorneys, accountants, and other professional offices earn more, keep more, increase compliance, and live fuller, richer lives all while substantially reducing tax liability.

Contact Us for a Business Analysis >>

Bookkeeping and Accounting for Dentists

I had been overpaying my taxes for years assuming my CPA knew best. ... Jim pointed out some crucial corporate tax advantages I was missing out on that my experienced CPA wasn’t aware of. ... I have reaped the benefits of proper accounting and his guidance ever since.
~Lincoln Kamell, DC, CCSP

My office suffered an accounting and bookkeeping disaster in 2005. As a result, we paid an ungodly amount of taxes. In 2006, I consulted with Jim Bowen to change the financial direction of the practice. Jim ... patiently educated me on how to organize my practice and my bookkeeping to itemize taxes. After filing an amended return for 2005, with the proper bookkeeping and a new accountant, we received a refund of $30,000!
~Dr. Steven Paul Brown

I hate to say anything negative about anybody, but he showed holes in my accountants knowledge that I was paying a premium for yet suffering greatly from, luckily I was able to recoup from many of them.
~Sean J Fryer, DC

One area of clinic operations that consistently trips up clients is bookkeeping. Many bookkeepers are not detail oriented for accurate profit/loss statements. Others use their own judgment as to what is a deductible expense without the training to actually know what is and what is not for your company (with predictably bad results!). Many companies try to do it themselves (scary) or compile a profit/loss statement at all!

Significant deductions can be lost. Too often the numbers on the books do not even come close to what the owner actually spent. In some cases reported income is higher than what the owner received, resulting in taxes paid on phantom income.

This is where a professional, dedicated, corporate-level bookkeeper is necessary for a profitable clinic. Our services provide the highest level of bookkeeping possible and will make life easier for you and your accountant. Tax preparation will seem like a dream instead of the dreaded “find the receipt” model most businesses use.

Contact Us for Bookkeeping Services >>