Helping New Dental Practices Become Successful
HDA Accounting Group has worked with many startup practices across the country. Starting a new dental practice can be a daunting and challenging task. Our objective in assisting our startup clients is to help you keep the financial and accounting aspect of the new business organized and on track so that you are free to focus on selecting your location, overseeing your build-out, hiring staff members, and marketing for new patients.
There are several ways to organize your business, each of which generates different legal and tax consequences. Further, there is no single form of entity that is appropriate for every type of business owner or individual practice. We are available to review your situation and assist you in choosing the best entity for your practice structure.
Government Account Applications
It is important that your business makes application with several federal and state agencies as part of the startup process. The practice will require a federal taxpayer ID number, a state taxpayer ID number (depending on your state), and a state unemployment account to be established for federal and state payroll taxes. Our firm is available to establish all of these accounts for you on behalf of your practice.
Loan Package Review
Following loan application, banks will provide you with a package that describes the specific terms and conditions of the loan which will vary depending on your work experience and financial situation. We will review your loan packages and present the advantages and potential disadvantages of each option available to you.