Podcast Recap: Is Buying a Dental Practice Still Worth It?

The dream of owning a dental practice has long been considered a natural next step after a few years in the profession. But in today’s saturated markets, evolving business models, and shifting generational expectations, the question has become more complex: is it still worth buying a practice? In a recent episode of the Beyond Bitewings podcast, the Edwards & Associates team dive into this timely question to unpack the realities dentists face today.

While the idea of starting a dental practice used to be a clear goal, especially in the years following dental school, things have changed. Urban areas are increasingly saturated, reimbursement rates are shrinking, and private equity-backed Dental Service Organizations (DSOs) have created intense competition with their ability to scale and offer robust benefits. Ash points out that the business landscape has shifted so dramatically that simply saying “yes” to a startup is no longer responsible without asking important follow-up questions about location, demographics, business model, and support structure.

One of the major distinctions discussed is between starting a brand-new practice and buying an existing one. Established practices already have what Ash calls “battle scars,” proof of what works and what doesn’t, along with a built-in patient base and revenue stream. Startups, by contrast, are entering the battlefield fresh, requiring owners to wear the right “armor” from day one, especially in competitive locations. That’s why advisors emphasize deep research, professional guidance, and self-awareness before diving into ownership.

Even if the financials check out, new owners often face unexpected cultural challenges when acquiring practices with long-standing staff or outdated procedures. On the flip side, owning a startup allows full control over systems and culture but comes with greater risk and slower ramp-up. Finding that balance – and understanding whether you’re truly wired to be both a clinician and a business owner – is critical to making the right decision.

The conversation also explored how DSOs affect the market not just for hiring but also for buying and selling practices. While they may present appealing offers with high earnings multiples, sellers need to look closely at the structure of these deals. Payouts are often spread out over time and contingent on maintaining specific financial performance, which may not work for every seller’s timeline or goals.

Beyond startups and acquisitions, the team discussed alternative paths to ownership, such as earning equity within a growing group practice or working under an owner who offers a stake as part of long-term employment. These options may offer more stability while still allowing entrepreneurial-minded dentists to build wealth and influence.

Ultimately, practice ownership can still be a fulfilling and financially smart move, but it’s not for everyone. With burnout on the rise, the key is understanding your own goals, values, and risk tolerance before taking the plunge. Whether you’re eyeing a startup or an acquisition, the decision needs to be intentional, strategic, and well-supported. As always, the team at Edwards & Associates is here to help you navigate that journey.

What Dental Practice Owners Should Know About the Latest Tax Bill

A new tax bill making its way through the House Ways and Means Committee could significantly impact dental practice owners.  While nothing is finalized yet, understanding what’s in the bill and what could change is the first step toward preparing for potential impacts in 2026 and beyond.

Here are some of the proposed highlights most relevant to dental practice owners:

  1. Enhanced Pass-Through Deduction: The bill would increase the Qualified Business Income (QBI) deduction from 20% to 23% and make it permanent. This would reduce taxable income for dental practices structured as S corporations, partnerships, or sole proprietorships.
  2. Increased Standard Deduction and Child Tax Credit: The standard deduction would be temporarily increased by $1,000 for single filers and $2,000 for married couples. In addition, the Child Tax Credit would rise to $2,500 per child, offering additional relief for dental professionals with families.
  3. Adjusted SALT Deduction Cap: The state and local tax (SALT) deduction cap would increase from $10,000 to $30,000, phasing out gradually for incomes above $400,000. For homeowners, especially those whose property taxes exceed $10,000, this change could allow for significantly greater deductibility.
  4. Elimination of Taxes on Tips and Overtime Pay: The bill would exempt tip income and overtime pay from federal income taxes in certain industries. While not directly applicable to most dental practice owners, it could influence compensation structures for support staff.
  5. Extended Bonus Depreciation and Interest Deductions: The bill extends 100% bonus depreciation and allows amortization and depreciation to be included in interest deduction calculations through 2029, making capital investment in technology or equipment more financially viable.
  6. Changes to Personal Deductions: The proposal would make permanent several itemized deduction limitations (such as on mortgage interest and casualty losses), eliminate personal exemptions, and simplify deduction structures.
  7. Rollback of Clean Energy Incentives: Provisions from the Inflation Reduction Act would be scaled back or phased out. Dental practices considering green upgrades, like solar panels or energy-efficient systems, may need to reassess their cost-benefit analysis under a new tax environment.
  8. End of IRS Direct File Program: The legislation would terminate the current IRS Direct File system and replace it with a public-private partnership, returning most free filing options to private software providers.

Preparing Your Dental Practice

The proposed tax bill is still in its early stages, and no immediate action is required. However, staying informed now can help you respond effectively if the legislation advances in its current form. If the bill passes as written, dental practice owners may need to:

  • Reassess business structure: Changes to the Qualified Business Income (QBI) deduction could make it worthwhile to review whether your current entity type, such as an S corp or sole proprietorship, is still the best fit.
  • Revisit compensation strategies: While the elimination of taxes on tips and overtime pay may not directly apply to dental practices, it could influence how you approach payroll, especially for administrative and support staff.
  • Consider the timing of future investments, especially for equipment or sustainable upgrades that may lose tax advantages.
  • Reach out to us with questions: Once legislation is finalized, we can help you understand the full impact on both your business and personal finances and identify opportunities to optimize your tax strategy.

What’s Next?

The bill still needs to pass the full House and then move through the Senate, where key provisions could be revised or removed. In short, the final version could look significantly different. That said, with the 2017 tax cuts set to expire after 2025, action on tax legislation is expected before year-end.

For now, the best course of action is to stay informed and prepare to plan ahead should the bill advance. As with any proposed legislation, details remain in flux, and this particular bill seems to be evolving almost weekly. We will do our best to keep you informed as updates are made public and the bill continues its journey through Congress and, potentially, to the President’s desk for final approval later this year.

If it moves forward, we’ll be here to help you understand the specifics and make proactive decisions for your dental practice.

Why Accounting Tech Matters and How It Benefits Your Dental Practice

Smart software helps us serve your practice faster, more accurately, and with better insight.

As a dentist, you rely on advanced tools, digital imaging, practice management systems, secure portals, to diagnose, treat, and manage your patients efficiently. We do the same on the accounting side. Behind every timely tax return, clear financial report, and helpful planning conversation is a thoughtfully chosen tech stack that enables us to support your dental practice better and faster.

Small accounting firms like ours invest heavily in software to deliver the level of service you expect. According to the 2024 Rosenberg Survey, on average smaller accounting firms like ours spend 3.5% of their revenue on IT and software. That can translate to more than $5,800 per employee, per year because doing the job right requires the right tools. And just like you, we invest where it matters.

Here’s a glimpse of what that looks like in action:

  • For tax preparation: We use Lacerte and SurePrep to prepare, review, and file returns quickly and accurately.
  • For planning: Money Tree helps us provide personalized financial planning tailored to your long-term goals.
  • For business property tax filings: Torqueware helps streamline this often-overlooked area, especially important for practices with high-value equipment.
  • For bookkeeping and payroll: QuickBooks Online (QBO) remains our go-to platform for day-to-day accounting support.
  • For client communication and security: We use Wolters Kluwer for document storage, billing, project tracking, and secure file sharing. LastPass protects all logins and client data, while Canopy gives us instant access to IRS transcripts when needed.
  • For customer service and marketing: HubSpot helps us stay in touch with our clients and provide helpful resources throughout the year.
  • For collaboration and efficiency: Microsoft Office and Adobe are part of our daily toolkit, helping us work smarter, not just harder.
  • For industry-specific advice: We purchase a nationwide dental fee report each year, which shows us percentile-based fee benchmarks by ZIP code. This helps us advise you on pricing adjustments to remain competitive and profitable.

We don’t choose technology for the bells and whistles; we choose it to help you run a better, more informed, and more profitable dental practice. Our systems eliminate redundant tasks, reduce the chance of errors, and give you a more complete financial picture, all while saving time and increasing responsiveness.

This is why our clients often tell us it feels like they’ve gained an internal finance team without the overhead when working with Edwards & Associates. We believe dental practice owners  deserve high-level support that fits their size and budget, and we make sure every dollar invested in your accounting works as hard as you do.

What 2026 HSA Contribution Limits Mean for Dental Practices and Their Patients

The IRS has released the inflation-adjusted Health Savings Account (HSA) contribution limits for 2026, and while these numbers might seem like a detail for financial planners, they also create important opportunities for dental practices. Whether you’re a practice owner planning benefits or looking to boost case acceptance, understanding these changes matters.

2026 HSA Limits at a Glance

For the 2026 tax year, individuals with eligible high-deductible health plans (HDHPs) can contribute:

  1. $4,400 for self-only coverage (up from $4,300 in 2025)
  2. $8,750 for family coverage (up from $8,550 in 2025)
  3. $1,000 catch-up contribution for those aged 55 and older (unchanged)

To be HSA-eligible, individuals must be enrolled in an HDHP, which now requires:

  • Minimum Deductible:
    • $1,700 (self-only)
    • $3,400 (family)
  • Maximum Out-of-Pocket:
    • $8,500 (self-only)
    • $17,000 (family)

What This Means for Dental Practice Owners

Increased contribution limits are good news for business owners and employees alike. Here’s how dental practices can benefit:

  1. Offer More Competitive Employee Benefits: HSAs are a tax-advantaged way for employees to save and pay for qualified medical expenses. Offering an HSA-compatible health plan can improve recruiting and retention while also helping employees manage healthcare costs more effectively.
  2. Gain Tax Advantages: Employer contributions to HSAs are tax-deductible, and employees benefit from tax-free withdrawals for qualified expenses, making this a win-win structure for benefits planning.
  3. Use HSAs as Part of Retirement Planning: Unlike FSAs, HSA balances roll over year after year. Dental professionals and staff can build a powerful, tax-deferred savings tool for future healthcare needs and retirement.

What It Means for Patients and Your Bottom Line

More contribution room means patients may have more HSA funds available for dental care, especially services not covered by traditional insurance.

Key Opportunities for Your Practice

  • Patients can use HSAs for preventive, restorative, and even cosmetic treatments that qualify under IRS guidelines.
  • Higher HSA balances may boost case acceptance, particularly for larger treatment plans or procedures patients typically postpone due to cost.
  • Patients who understand their HSA benefits are more likely to seek care proactively, rather than delaying treatment.

How to Take Advantage of This Shift

Here’s how your dental practice can turn increased HSA limits into stronger revenue and patient satisfaction:

  1. Educate Your Team: Make sure your front office staff and treatment coordinators understand what dental expenses are HSA-eligible, and how to discuss them confidently with patients.
  2. Promote HSA-Eligible Services: Highlight popular services like implants, crowns, orthodontics, or night guards as eligible HSA expenses in your marketing emails, website, and patient newsletters.
  3. Encourage Year-End Planning: Patients often rush to use HSA balances at the end of the year. Start conversations in Q3 or early Q4 to help them plan ahead and fill your schedule.
  4. Make It Easy: Add signage or brief messaging at check-in or check-out reminding patients that your practice accepts HSA cards.

The Bottom Line

For dental practice owners, the 2026 HSA limit increase is more than a regulatory update, it’s a strategic opportunity. From building better benefits for your team to helping patients say yes to treatment, now is the time to integrate HSA awareness into your business planning.

Podcast Recap: The Secret to Creating Value and Growth For Your Dental Assistants

In a recent Beyond Bitewings episode, Ash welcomed dental industry advocate Kevin Henry from Kevin Speaks Dental to share his insights on one of the most vital yet often overlooked roles in the dental practice: the dental assistant.

With more than two decades of experience and a global perspective from speaking engagements around the world, Kevin is passionate about helping dental assistants find purpose, support, and recognition in their careers. In this episode, he explored the challenges assistants face and how practice leaders can better support them, ultimately creating stronger teams and better patient experiences.

The Ongoing Struggle for Recognition and Value

Kevin explained that many dental assistants still feel undervalued in their roles, often earning the lowest pay on the dental team. But their impact is significant: they’re often the patient’s advocate, the infection control lead, and the glue that holds clinical operations together. The key is to help assistants feel engaged and appreciated, especially when compensation isn’t the only reward.

Culture Still Comes First

While the term ‘culture’ may feel overused, Kevin emphasized its importance now more than ever. Assistants want to work in an environment free of drama, where they feel part of a team and know their work makes a difference. Dentists and practice managers can support this by holding regular one-on-one check-ins and encouraging open conversations about each team member’s goals, skills, and professional development.

Empowering Assistants Through Communication

Kevin encourages assistants to take the lead in their own growth by initiating conversations about what they want to achieve. Whether it’s improving a clinical skill or earning a certification, setting and tracking progress toward individual goals is motivating and good for the practice, too.

The Assistant’s Role in Patient Experience

Because dental assistants often spend the most time with patients during clinical visits, their communication skills and case acceptance support are essential. Patients frequently ask assistants for second opinions or clarification, so investing in training beyond clinical tasks, like customer service and communication, can boost trust and retention.

Combatting Turnover with Connection and Accountability

Assistant turnover remains a real challenge, particularly for smaller practices with limited resources. Kevin recommends building strong relationships, having transparent career development conversations, and setting realistic milestones for professional growth. Regular check-ins (at least twice a year) keep team members accountable and aligned with the practice’s goals.

Every Team Member Is a Leader

From front desk to back office, Kevin believes every person in a dental practice should lead by example. When team members understand each other’s roles, strengths, and personalities, collaboration improves. Tools like personality assessments (used appropriately) can foster stronger communication and reduce conflict.

Technology and Training: Move Forward Together

New technology is exciting but can be overwhelming especially for long-time team members. Kevin emphasizes the importance of explaining the ‘why’ behind new tech, offering training, and including the entire team in the implementation process. Doing so fosters buy-in and prevents burnout.

Know Your Numbers

Finally, Kevin underscores that compensation conversations – and any investment in staff – must be grounded in a firm understanding of the practice’s finances. Knowing your margins and operating costs helps leaders make informed decisions that benefit both the team and the business.

Bottom line: Dental assistants are more than support staff, they’re essential to the success of every practice. Investing in their growth, listening to their goals, and creating a culture of trust and collaboration will improve patient care, reduce turnover, and strengthen the entire team.

The Question I Couldn’t Answer

by Robert T. Edwards

The other day, I met up with a former client I hadn’t seen in a few years. We were catching up over lunch, talking about life, his dental practice, and his wife’s growing business. It was one of those easy conversations until he asked me something that genuinely caught me off guard.

He asked, “What’s the biggest challenge you’re facing in your business right now?”

I was stopped in my tracks.

Not because I didn’t have a hundred things running through my head. Like most business owners, there is always something to work on. But when I tried to put my finger on one real challenge, I came up blank.

For most CPA firms, the typical answers come quickly: recruiting and retaining talent, finding new clients, keeping people engaged. But here’s the honest truth: we’re in a good place.

We’ve got a waiting list of people who want to join our team. We had more prospective client calls last year than the previous two years combined. Our team is steady, smart, and strong. In fact, when someone asked me recently how tax season went, I said I wasn’t sure. The team runs it so well, they don’t need me involved (unless someone needs to make a tough call to a client who owes six figures).

I couldn’t answer my friend’s question because our team, now led by Lynn and supported by so many talented, committed people, has built something really special here. We’ve worked hard to create a place where people want to be, clients and employees alike. That doesn’t mean there aren’t challenges. There always are. But right now, I’m grateful for the people around me and the culture we’ve created together.

Sometimes, not having an answer is the best kind of answer.

Don’t Get Duped: What Dental Practice Owners Need to Know About Ponzi Schemes in a Recession

As economic uncertainty continues to rise, with recession odds climbing and new tariffs creating added instability, one unfortunate trend is sure to follow: a surge in financial fraud. Specifically, Ponzi schemes – deceptive investment scams that thrive during boom times and unravel when the economy tightens – are more likely to collapse during a downturn.

Why Ponzi Schemes Resurface During Recessions

Ponzi schemes rely on a steady stream of new investor money to pay returns to earlier investors. When times are good and optimism is high, they can go undetected for years. But when markets tighten and investors want to withdraw their funds, the façade crumbles. This was the case during the 2008 financial crisis, the early COVID-19 pandemic, and now, potentially again as we face new economic headwinds.

In fact, according to Ponzitracker, 66 Ponzi schemes were uncovered in 2023 alone, involving nearly $2 billion in potential losses. And that’s just what’s been caught. Many more fly under the radar, until the music stops.

Even Smart People Fall for It

You might assume that Ponzi victims are uninformed or careless, but that’s often not the case. Many are savvy professionals, including doctors, dentists, and small business owners, who get caught up in the promise of high, consistent returns. After all, who wouldn’t want an investment that claims to beat market volatility, pays out reliably, and comes from a “trusted” advisor?

Bernie Madoff’s infamous scheme is a perfect example. Among his victims were experienced investors, celebrities, and financial experts. Trust and reputation often play a big role in these scams, and con artists are experts at building both.

Red Flags to Watch For

As a dental practice owner or manager, you’re likely focused on growing your practice and planning for your future. That’s exactly why fraudsters target professionals like you, busy individuals with discretionary income looking for “smart” ways to invest.

Here are key red flags to help you spot a Ponzi scheme before it costs you:

  • Returns that are too good to be true. If the investment offers consistent, above-average returns regardless of market conditions, be skeptical.
  • Lack of transparency. If it’s unclear how the investment works or where the money comes from, that’s a major warning sign.
  • Pressure to reinvest. Being encouraged to “roll over” returns or keep funds in the program longer is a common tactic.
  • Limited access to your money. Delays or restrictions when you try to withdraw funds often signal trouble.
  • Unregistered sellers or products. Always verify that both the investment advisor and the investment itself are registered with the SEC or FINRA.

What to Do if You’ve Been Scammed

The IRS does offer some relief for those who suffer financial losses in fraudulent investment schemes. Under specific guidelines, you may be able to deduct the losses – including previously reinvested earnings – under certain conditions. And if you aren’t seeking any recovery, the IRS may allow a deduction of up to 95% of your loss using a safe harbor method.

However, this process can be complex. If you suspect you’ve fallen victim to a Ponzi scheme, talk to your accountant or advisor right away to explore your recovery and reporting options.

Stay Focused and Stay Cautious

While investing is an important part of securing your financial future beyond the dental chair, it’s critical to proceed with caution, especially in times of economic uncertainty. The best protection against a Ponzi scheme is awareness. Before handing over your hard-earned money, ask the right questions, verify credentials, and never invest in something you don’t fully understand.

Need a second opinion on an investment that seems a little too perfect, or better yet, help investing for the future? We’re here to help. Reach out to our team for trusted financial guidance tailored to dental professionals.

Podcast Recap: Investing Beyond Your Practice – Building Wealth and Freedom for Dental Professionals

In the latest episode of Beyond Bitewings, the team at Edwards & Associates dives into a critical topic for dental practice owners: investing beyond your practice to build long-term wealth and financial freedom. Host Ash is joined by investment experts Paul Montelongo, Eric Miller, and Nathan Turner, who share a range of strategies designed to help dentists grow their income streams and secure their financial future.

Building Wealth Outside the Practice

While your dental practice is a powerful income generator, it shouldn’t be your only source of wealth. As the episode highlights, real financial freedom comes from creating multiple income streams, ones that can eventually support you when you step away from day-to-day operations.

The key takeaway? Start early and think of your household as your “parent company.” Just as large corporations build a structure of profitable subsidiaries, your practice and investments should support the financial health of your family unit.

Alternative Investment Options

The episode introduces several compelling investment strategies:

  • Multifamily Syndications
    Paul Montelongo explains how these investments typically involve 5-year business plans, but many properties are sold within 33 months based on market readiness. Investors, or limited partners (LPs), enjoy passive income and ownership without day-to-day involvement. Distributions are made quarterly, with clearly defined rates of return.
  • Note Investing
    Nathan Turner discusses buying residential mortgage notes, essentially becoming the lender without owning the property. These offer stable returns (8% fixed in some cases), quarterly distributions, and the potential for asset control with less operational risk. Turner highlights the importance of understanding property value, clean title, and lien positioning before purchasing.
  • Traditional and Diversified Portfolios
    Eric Miller outlines a well-rounded investment strategy, which includes:
    • Stocks and bonds (especially dividend-paying or municipal bonds)
    • Real estate holdings (individually or via syndicates)
    • Insurance-based products (such as annuities or cash value life insurance)

He emphasizes that a diversified portfolio can provide tax benefits, predictable returns, and long-term security.

Pay Yourself First, But With Purpose

One of the most important themes discussed is the idea that many practice owners underpay themselves. Miller recommends allocating 10% of your practice revenue to yourself, not for spending, but for investing. This helps create new income streams that can support your family long after you stop practicing.

Many dentists underestimate how much revenue they truly need to cover operational and personal financial goals. By reworking your budget and investing strategically, you can eliminate cash flow stress and build meaningful reserves.

Final Thoughts

Whether you’re new to investing or looking to diversify beyond the stock market, this episode offers practical insights tailored to dental professionals. The experts reinforce that smart investing isn’t about chasing the next big thing, it’s about building consistent, long-term growth that supports your goals both inside and outside your practice.

Ready to put your money to work? Start thinking beyond the chair and into a future where your financial health is just as strong as your clinical expertise.

What Dental Practice Owners Need to Know About New Federal Payment Changes

Big changes are coming to how the federal government issues payments, and dental practice owners need to be prepared. The White House has announced it will eliminate paper checks for nearly all government payments by September 30, 2025, so the U.S. Treasury has approximately six months to make the necessary adjustments. If you or your practice currently receive any federal payments by check, including tax refunds, Medicare reimbursements, or other government-related funds, it’s time to get ready for a full transition to electronic payments.

Why the Change?

The move to eliminate paper checks is part of a broader effort to improve efficiency, reduce fraud, and save taxpayer dollars. Electronic payments are faster, more secure, and more cost-effective than mailing paper checks. The Treasury estimates that moving to digital payments could save hundreds of millions of dollars annually.

How It Could Affect Dental Practice Owners

If your practice is owed a federal refund or receives any kind of government reimbursement, the payment will now be issued via direct deposit or a similar electronic method. That means:

  • No more waiting on the mail. Payments will arrive more quickly.
  • Reduced risk of lost or stolen checks. Electronic transfers are generally safer.
  • Streamlined bookkeeping. Digital payments are easier to track and reconcile.

For dental practices that rely on timely cash flow to cover payroll, supplies, or operating costs, faster access to funds can make a significant difference.

What You Should Do Now

If you haven’t already made the switch, now’s the time to update your payment preferences:

  • Set up direct deposit for IRS payments. Make sure your practice provides its correct banking information each time you file a return so you can receive any IRS refunds electronically. 
  • Check Medicare provider information. If you participate in Medicare, confirm your electronic payment enrollment is up to date.
  • Talk to your vendors. Many private insurers and suppliers are also pushing for digital payments. Updating your systems now will set you up for a smoother future.
  • Review your accounting systems. Ensure your bookkeeping processes are ready to handle incoming electronic payments efficiently.

What Happens If You Do Nothing?

If you don’t update your information, you could experience delays in receiving payments. In some cases, the government may issue payments via a prepaid debit card if no direct deposit information is available, which could add cost and complications to your accounting and cash management processes. Additionally, prepaid debit cards pose increased risk due to loss, misuse, or internal theft.

How We Can Help

At Edwards & Associates, we specialize in helping dental practice owners navigate financial changes like this one. If you need assistance updating your information with the IRS or Medicare, reconciling digital payments, or ensuring your cash flow remains strong during the transition, we’re here to help.

Don’t Fall for It: How Dental Practice Owners Can Protect Themselves from Common IRS Scams

Dental practices are constantly juggling patients, employees, insurance claims, and the day-to-day operations. The last thing you need is to get caught in a scam, especially one that claims to come from the IRS.

Unfortunately, IRS scams are more common (and more convincing) than ever. Scammers know that small business owners are prime targets, and dental practice owners and managers are no exception. Here’s what you need to know to protect yourself, your team, and your practice.

Common IRS Scam Tactics

Scammers often impersonate the IRS through:

  • Emails (“phishing”) that look official but contain malicious links or attachments.
  • Phone calls claiming you owe taxes and demanding immediate payment.
  • Text messages directing you to fake IRS websites.
  • Mail that looks real but asks for unusual information or directs you to a fake phone number.

Important: The IRS will never initiate contact with you via email, text message, or social media to ask for personal or financial information. They primarily communicate through official mail.

How to Recognize an IRS Scam

Be on the lookout for these red flags:

  • Urgency or threats. Scammers often pressure you to act immediately by threatening arrest, license suspension, or lawsuit.
  • Requests for unusual payment methods. The IRS does not accept gift cards, cryptocurrency, or wire transfers for tax payments.
  • Unfamiliar sender or strange-looking links. Hover over links before clicking, if the web address looks suspicious or doesn’t end in “.gov,” don’t click.
  • Spelling or grammatical mistakes. Official IRS communications are professional and carefully worded.

Here is an image of a specific scam email. On the surface, it looks legitimate. But you’ll notice a few things that are off on closer examination. First, it is an email, which is not how the IRS typically communicates. Secondly, the IRS is not likely to refer to you as a ‘valued customer.’ Third, there is some urgency to the message, and it is asking you to click on an unidentified link.

What to Do if You Receive a Suspicious Email or Call

  • Don’t click on any links or open attachments.
  • Don’t provide any personal information, not your Social Security number, bank details, or even your name.
  • Hang up immediately if it’s a call.
  • Report the scam. Forward phishing emails to phishing@irs.gov. You can also report scam calls to the Treasury Inspector General for Tax Administration  (TIGTA) at tigta.gov.

What If You Accidentally Clicked or Responded?

If you clicked a suspicious link or provided information:

  • Immediately run a virus scan on your computer.
  • Contact your IT provider to check for any breaches.
  • Monitor your bank accounts and credit reports for unusual activity.
  • Report identity theft to the IRS at identitytheft.gov and file a report with the Federal Trade Commission (FTC).

It’s also a good idea to reach out to us if you shared any tax-related information. We can guide you on the next steps to help limit potential damage.

Protecting Your Practice Starts with Awareness

When in doubt, always double-check. Contact the IRS directly using the information on irs.gov, not a phone number or link provided in a suspicious message. And if you have questions about anything that feels ‘off,’ we’re here to help.

Your financial health is just as important as your patients’ dental health. Stay vigilant, stay informed, and don’t let scammers take a bite out of your business!

Preparing Your Dental Practice for Potential Tariff Uncertainty

As the political landscape shifts, many dental practice owners are wondering how potential tariff changes under a new administration might affect their businesses. While it’s impossible to predict exactly what future trade policies will look like, there are smart steps you can take now to prepare without getting caught up in unnecessary worry.

What Could Be Impacted?

Dental practices rely on a range of supplies and equipment that are often manufactured overseas, including:

  • Dental chairs, imaging equipment, and sterilization machines
  • Handpieces and other specialty tools
  • Personal protective equipment (PPE) like gloves and masks
  • Lab materials, including crowns and implants

If tariffs are placed on goods from certain countries, costs for these items could rise. However, much remains uncertain, and even if tariffs are introduced, they could take time to phase in, giving practices an opportunity to adjust.

Don’t Forget Company Vehicles

Another area that could be impacted by tariffs is company vehicles. If your practice owns or leases vehicles for business purposes, potential tariffs on imported automobiles and parts could drive up costs.

Even vehicles manufactured in the U.S. often rely on parts sourced globally. This means:

  • The cost of new vehicle purchases or leases could increase.
  • Repairs and maintenance expenses could rise if imported parts become more expensive.
  • Lead times for service or new vehicle availability could be affected if supply chains are disrupted.

If you anticipate needing to replace or add a business vehicle in the next year or two, it may be worth evaluating your options sooner rather than later. 

What Can Dental Practices Do Now?

  • Review Vendor Relationships: Now is a good time to review where your equipment and supplies are sourced. Talk to your suppliers about contingency plans or alternative options should tariffs impact certain products.
  • Maintain Healthy Inventory Levels: If you rely heavily on imported supplies, consider modestly increasing your inventory on key items to hedge against short-term price increases.
  • Budget with Flexibility: Build some extra flexibility into your supply and equipment budgets for 2025 and 2026. Having a little financial cushion can help absorb any potential price fluctuations.
  • Stay Informed, Not Alarmed: Rely on reputable, non-partisan sources to track policy changes. Professional organizations like the ADA and your trusted advisors (including us!) will help break down what changes could mean specifically for dental practices.
  • Focus on What You Can Control: Operational efficiency, strong vendor partnerships, and proactive financial planning will serve you well regardless of the broader economic environment.

While the headlines may feel overwhelming at times, dental practices are resilient. With some thoughtful planning, you can navigate potential changes smoothly and continue delivering outstanding care to your patients.

If you’d like to discuss ways to strengthen your practice’s financial resilience, our team is here to help.