Hiring the Right Financial Professional: Be Vigilant
Part One: The Bookkeeper Part Two: The Controller Part Three: The CFO Regardless of the degree of financial oversight your company requires—whether you need a bookkeeper, a controller or a CFO—vigilance is vital when it comes to finding the right person for your job. I advise following prudent, proven practices when placing someone in the…
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Hiring the Right Financial Professional: The CFO
Part three of four in a SmartMoney series by Mike Baker Read Part One: The Bookkeeper and Part Two: The Controller. The larger the company, the more complicated the financial decisions and the more responsibilities required of those people minding the money. Earlier in this series, I talked about bookkeepers and controllers, professionals who are…
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Financial Performance Measures: A Checklist for Tracking your Practice Performance
Part 1: Goodwill and the Sale of a Dental Practice Part 2: The Taxation of Goodwill Part 3: Building Practice Goodwill Consistent with the thinking that activities that get scheduled get done, I recommend a checklist of practice performance goals and measures to which you refer at least monthly. This checklist ought to reflect what…
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Hiring the Right Financial Professional: The Controller
Part two of four in a SmartMoney series Read Part One: The Bookkeeper The recent recession was a grim reminder that we simply can’t be too careful when it comes to the company’s finances. But what type of financial professional does your company really need? A small operation might do well to hire an experienced…
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Building Practice Goodwill
Read Part 1 and Part 2 in this Goodwill Series. In my previous two posts, I have discussed how goodwill is the driver of value in your practice and how goodwill is taxed at more advantageous rates than regular income. And if that isn’t enough, the byproducts of building superior goodwill in your practice benefit…
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Fiscal Cliff Averted? It All Depends.
Search the term “fiscal cliff averted” and you’ll get about 57 million hits in a quarter of a second. Is that proof enough that we did, in fact, avoid a cataclysmic spill over a scary economic precipice? As a nation, perhaps so. But if you now find yourself approaching the highest income tax bracket, you…
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BP Deepwater Horizon Spill Settlement – Your Business May Qualify for Compensation
The new Deepwater Horizon Court-Supervised Settlement is now open and accepting claims. This new program is a dramatic shift from the prior Gulf Coast Claims facility headed by Kenneth Feinburg. Your businesses may qualify even if not located on the coast or involved in tourism. The geographic area of the settlement includes all of Alabama,…
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Gulf Coast Property Owners Can Receive Over $1,000
Do you own a condo on the Gulf Coast? If you owned it on April 20, 2010, you are eligible for a payment being administered by the U.S. District Court-Eastern District of Louisiana because of the Deepwater Horizon Economic & Property Damage Settlement. Under this settlement, no physical damage to your condominium is required. This…
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