Ignite your way through the associate phase
Introduction to the Associates on Fire Program
Associates. Get ready to ignite. This video provides a brief overview of the Associates on Fire program.
Associates on Fire Certification
We’ve developed an Associates on Fire certification as a part of this program. Although it’s elective, we hope every dental […]
Overall Timeline of Events in the Life of Associate and New Practice Owner
Let’s kick off with an overview of the main mile markers in the life of an associate. We’ll discuss timing […]
Student Loans: Topics We’ll Cover
We’ve got number of dental student loan modules in our Associates on Fire program. In this video, we’ll layout an […]
Student Loans: Basic Definitions
Students loans can be complex. Let’s kick off with some basic definitions of student loans, and even loans in general. […]
Student Loans: Income Driven Repayment Plans (IDRs)
Income Driven Repayment plans (or IDRs) help dental graduates keep their student loan payment low as they begin their dental […]
Student Loans: Calculating 10% of Your Income for IDR Plans
When you sign up with an IDR student loan plan (IBR, PAYE, REPAY), your payments are capped at 10% of […]
Student Loans: Accrued vs Capitalized Interest
As an associate, you may see the balance of your student loans rising. I know, it’s painful to witness. This […]
Student Loans: A Walkthrough of Studentaid.gov
The Department of Education has developed a helpful resource for dentists to see all their student loan details in one […]
Student Loans: Consolidating vs Refinancing – Part 1
Dental students and associates often confuse student loan consolidation with student loan refinancing. They are not the same. In this […]
Student Loans: Consolidating vs Refinancing – Part 2
Let’s continue the discussion of student loan consolidation and student loan refinancing. In the prior module, we discussed consolidation. In […]
Student Loans: Entering Residency
What should you do about your student loans if you enter residency? Many dentists just go on deferment or forbearance. […]
Student Loans: Public Service Loan Forgiveness Program (PSLF)
Do you plan to seek early forgiveness of your student loans through the Public Service Loan Forgiveness program, or the […]
Student Loans: Forbearance and Deferment
Forbearance and Deferment can be used to temporarily stop making payments on your student loans. How are they different? When […]
Dental Student Loans: Tax Considerations
Student loans have important tax considerations. This video will outline what is tax deductible and what is not when it […]
W2 Employee vs Independent Contractor
When working as a dental associate, you’re going to be paid as either an employee or an independent contractor. These […]
Corporate vs Private Employment
Out of dental school, you have the option of working in a “corporate” setting or a private dental practice. Although […]
Budgeting and Financial Planning: Starting Early as a Dental Associate
The earlier you develop habits of wealth building, the faster you’ll achieve financial success and flexibility. In this video, we […]
Preparing Yourself Early to be a Practice Owner
Here are some important concepts to keep in mind as you associate in preparation of becoming an owner.
Buy vs Startup
Should you buy or start up a practice? Let’s look at some of the pros and cons to each option.
Credit Score Management
It’s imperative you build a solid credit score during your associate years. You’ll need it when you apply for a […]
Fire up a successful transition experience
Finding the Right Location for your Dental Practice
Like real estate, one could argue “location location location” is one of the most important decisions when acquiring a dental […]
Your Dental Transition Team
Buying a dental practice is one of the most significant financial decisions of your life. Don’t go it alone. In […]
Overview of the Practice Purchase Process
Before we dive into the dental practice purchase process in depth, let’s first review the three main phases of the […]
The Practice Purchase Initial Analysis
Let’s now take a close look at the process of evaluating the financial health of a target dental practice. In […]
The Practice Purchase Initial Analysis – A Case Study Part 1
Let’s now do a case study. Seeing these concepts in action is the best way to understanding them. Imagine you’ve […]
The Practice Purchase Initial Analysis – A Case Study Part 2
We further explore Dr. Devlin’s dental practice in this case study. Here we look at the reasonableness of the asking […]
Due Diligence: An Introduction
Due diligence when purchasing a practice is a heavy topic. But let us simplify it for you. In this video, […]
Due Diligence: Financial
How do you know if the financial data a seller or broker provides to you is reliable? In this video, […]
Due Diligence: Legal
When you purchase a practice, you’re attaching yourself to legal provisions that you can’t easily undo. That’s why it’s important […]
Due Diligence: Clinical
When acquiring a dental practice, you also want to evaluate the health of the clinical processes within the practice. For […]
Purchase Price Allocation
When you purchase a dental practice, you can either purchase the stock OR the assets of the sellers corporation. Which […]
Your First Month: An Introduction
The minute you step into ownership, your world will seem to spin a little faster. But if you’re prepared, that […]
Your First Month: Legal Entity Formation
The type of legal entity you select for your practice has in important affect on your taxes, payroll, and general […]
Your First Month: Checking and Credit Card Accounts Part 1
You can’t operate a practice without a dedicated checking and credit card account. Banks offer various features and also have […]
Your First Month: Checking and Credit Card Accounts Part 2
Continuing our discussion about bank features for checking accounts, here we explore check scanners, view-only access, and FDIC rules.
Your First Month: Accounting and Financial Statements
Establishing your accounting system may sound like you’re about to “count beans.” However, those beans represent the outcome of your […]
Your First Month: Payroll
Within a couple weeks of closing on your practice, you’re going to need to process payroll. You want that payroll […]
Your First Month: Handling the Sellers AR and AR Credits
AR (or Accounts Receivables) is what a practice owner expects to receive from treatment ALREADY performed on a patient. How […]
Your First Month: Merchant Processing
On day one of practice ownership, you need a merchant terminal in place and ready to accept payment from your […]
Your First Month: Your Practice Management Software
The practice management software is the technology backbone of your practice. It allows you to schedule, bill, and store key […]
Be explosively successful as a new practice owner
New Ownership: From Old to New
When you purchase a dental practice and step into ownership, how do you address the inevitable disruption, or change, that […]
Dental Business Planning and Marketing
In this video, we’ll look at the six key areas that every good dental business plan will address, and how […]
Dental Practice Accounting 101: Profit Loss Statement and Analysis
As the CEO of your practice, you should monitor the financial health of your practice regularly. Your financial reports, if […]
Dental Practice Accounting 201: Fixed Costs, Variable Costs, and Breakevens
Let’s dive deeper into the accounting for a dental practice. I know, you’re thinking why do I need to understand […]
Dental Practice Accounting 301: The Balance Sheet
Let’s explore the dental practice Balance Sheet. This report is important because it outlines what your practice owns, what it […]
The True Cost of PPOs and Reducing Your Dependency on Them
PPO contracts are eroding dental profits. Reimbursement rates are stagnant, or even lowering in some cases. All the while your […]
Designing Your Own W2 Payroll as a Dental Practice Owner
As an S-Corporation, you’re required to pay yourself (yes you, not just your staff) a W2 compensation from your corporation. […]
Taxes: The Personal Tax Return (1040)
Taxes are a part of life. But you shouldn’t pay more than you need to. Good tax planning starts with […]
Taxes: Loan to Shareholder
Dentists often fall into a trap known as a “Loan to Shareholder.” In most cases, they don’t even know it. […]
Taxes: Goals and Deductions
What exactly is the goal of tax planning. Dentists often believe the goal is to eliminate taxes. But there’s more […]
Taxes: The Tax Planning Process
Taxes are a fact of life for dentists. However, with good tax planning you can avoid paying unnecessary taxes and […]
Taxes: Depreciation
Invariably, you will frequently hear the term “depreciation” when talking with your CPA. What is depreciation, and why is it […]
Taxes: 179 Deduction
The IRS makes an exception to their standard depreciation rules in what’s known as a section “179 deduction.” Throughout your […]
Investing: 401K and Other Business Retirement Plans
Dentists need to start investing early to become financially independent. If designed and implemented properly, business retirement plans, such as […]
Investing: Invest or Pay Down Debt?
Should you pay down debt with extra payments or invest into a 401K first? We tackle that question in this […]
The Truths and Myths of Owning Multiple Locations
Many associates today are hungry to own not only one dental practice, but many. While the thought of building this empire […]
Your Time and Your Focus as a Dentist
Time is your most valuable resource. How you spend it will determine every outcome in your life, including your practice […]
Developing your “Personal Financial System”
Interestingly, money can further both happiness and unhappiness. How do you promote one over the other? In this video, we’ll […]
