Diving deep into dentistry's financial landscape with the insightful Dr. Jennifer Bell on our latest Dental Fuel episode!
Join us as she uncovers a common pitfall many dentists face – the pursuit of depreciating assets to trim those tax bills. But as a dentist, have you truly considered the long-term impact?
Dr. Bell shares her journey, expressing the need for more guidance in understanding how these assets impact profitability, stressing the importance of dissecting expense line items for informed decisions. 🦷
Don't miss her invaluable advice for cultivating a thriving practice! 🎙️
About The Guest:
Dr. Jennifer Bell is a full-time practicing dentist in Raleigh, North Carolina. With 14 years of experience, she owns two diverse dental practices that offer comprehensive care to patients of all ages. Dr. Bell is also the host of the podcast "Dentists in the Know" (DINKs), where she and her colleagues provide up-to-date information and insights on various topics in dentistry.
Key Takeaways:
- Dentists often chase depreciating assets to reduce tax liability, but they may not consider the long-term financial implications.
- Mortgage payments on acquired assets come out of the practice's profitability, reducing the owner's take-home income.
- Dentists should carefully consider the ROI and financial responsibility of acquiring new technology and equipment.
- It is important to give enough time for onboarding and training when introducing new technology to the practice.
Connect with Jennifer Bell: @jbreezy.78
Connect with Dentists in the Know: @dentistsintheknow
Connect with Ignitedds: @ignitedds
Connect with Tanya Sue Maestas: @tsmaestas.dds
