Accounting and Tax Advising in the Medical Industry: The Business Compliance Check-up, Getting a 2nd Opinion

  • by Pat
  • 18 Days ago
  • 0
Business Compliance Check-up

If you’re a medical professional and you’re not certain if your business is set-up in the most strategic manner in all areas of accounting and taxation, it’s time to think about a business compliance check-up and how it can help you.

How do you know if you’re making compliant and strategic business decisions?  How do you know if your business structure, whether that be as a C Corporation or LLC is advantageous from a tax standpoint?  You don’t know what you don’t know so where do you go to get answers to questions you don’t even know to ask?

For over two decades, I have worked with business owners in just about every industry who know their craft but, they have never been formally trained in the area of accounting and taxation.  As a result, this area of their business is one of the most challenging for them to wrap both their minds and arms around to make sure it’s handled correctly.  Mistakes in this area of business can be costly and the IRS expects you, the business owner, to conduct your own due diligence.

In response to this challenge, I have created a business compliance check-up that is a head-to-toe analysis of an organization with a written report in plain English.  This report provides the results of our analysis of an organization’s accounting systems, tax profile, and many other compliance issues such as paying staff and owners properly according to IRS regulations and so much more.   The tax code is massive and generally accepted accounting principles aren’t always intuitive.

The business compliance check-up is a comprehensive analysis of the entire financial piece of your medical practice and designed to give you a baseline on your business.  If you have a relationship with a CPA and just want a 2nd opinion, this engagement will provide you with a report and the language to start a conversation with them.

In addition, medical professionals want to focus their efforts on caring for their patients, not making sure their bank account is properly reconciled.  My team and I understand this need and have developed efficient, timely and accurate processes to provide financial data to medical professionals combined with advisory services designed to meet their objectives.   At ACT Services, we embrace the latest technology that aims to automate bookkeeping and bill paying functions so that your precious time is spent on strategic planning and less on data entry and accounting oversight.

For more information on how to get started, visit our website at actservices-inc.com and find out how we can help.

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