Tag: Certified Public Accountant

Miami FL Healthcare CPA | 4 Ways to Grow Your Confidence as a Business Leader

The up and down nature of confidence can be exemplified as a business leader because of the stressful nature of maintaining a high-ranking position. Confidence can grow with practice and effort. Here are four ways to grow confidence as a business leader. 

Miami FL Healthcare CPA | 4 Ways to Grow Your Confidence as a Business Leader

Consistency is Key 

Rapidly changing methods and ideas can prevent a business leader from feeling confident. The business should work for the business leader, not the other way around. Gaining a sense of consistency and stability with schedules, rules, and realistic expectations can lead to an increase in confidence that the business will run smoothly. Know and understand the key parts of the business, important dates, and the function of each role. You can only become confident in your business operations when you fully grasp the nature of the entire business. 

Be Yourself 

Being afraid to say what you think can be viewed as a lack of confidence. Speaking your mind, while still having a professional filter, can build confidence as it shows you are part of a team and contributing. Being yourself will also dispel any notion coworkers might have that you are not being a genuine person. Openness and authenticity will not only strengthen your bond with your employees, but are also essential traits for effective leadership. 

Be Open to Criticism 

Change cannot come from one person alone, and not all criticism should be seen as a slight against you. Listen to feedback from coworkers and customers and tailor that feedback into something positive. Do not let the criticism fester and destroy your confidence, take it and use it to grow as a person. Accepting constructive criticism and negative comments can help increase your confidence.  

Know What You Are Talking About 

Fully understanding what you are talking about can help improve your confidence. If you are a business leader, strive to know everything you can about the business and its operations. If you are speaking about a topic, research everything you can about that topic. Become the expert. You will be better positioned to demonstrate confidence when it is clear that you are invested in what you are discussing. 

Confidence can not only make or break your career, it can impact the business as a whole. You can take your confidence to the next level, while learning how to prevent situations from arising that can be detrimental to your confidence.  

For a consultation, contact our team. 

Dental CPA | Think Before You Buy New Equipment

It’s inevitable. Eventually, your dental equipment will need to be replaced. Sometimes it is because newer technology has made your equipment obsolete. Purchasing new equipment is an investment that should be taken with caution and critical thinking. Here are a few tips to help you get started on making an informed and practical decision regarding your office’s equipment. 

Take Your Time 

Never rush into a purchase as crucial as new equipment. We strongly suggest you meet with our team to discuss the implications a purchase might have, particularly on your practice’s taxes. There may be an optimal time of the year to make a purchase. 

Consider Its Use 

How often will you utilize this equipment? Where will it fit in your office? Carefully consider how this new piece of equipment will be used in your day-to-day operations. If you are struggling to answer these questions, it may be a sign that the new equipment is not needed immediately. 

Will This Help My Practice Grow? 

Ask yourself if investing in new equipment will allow your practice to grow. Will it expand the available services you offer your patients? Perhaps it will improve the comfort, efficiency, and amount of time it takes to treat or serve patients. When marketed effectively, these can be excellent sources for driving new patient numbers or improving loyalty among your existing patients.  

What About Cost? 

You should never buy equipment if you are unsure how you will receive a return on investment from it. Consider how your pricing structure will offset the costs of the investment. Can you still be competitive in your market if you must raise costs?  

Your office equipment plays a central role in allowing you to deliver quality care for your patients. New technologies are constantly making the patient experience more comfortable and safe. Before you rush to purchase new equipment, it is vital that you consider how the investment will impact your business. 

Our team is here to help you make these decisions. For a consultation, contact us today.  

Dental Accountant | How Team Morale can Make or Break Your Dental Practice

Team morale can make or break your dental practice. It’s a bold statement, but there are several reasons why it is true. The morale of every member of your team impacts other team members, your patients, and over time, even your bottom line. If you want your dental practice to be a success, team morale needs to be a priority.

Unhappy staff are less productive. When a member of your team is unhappy in their job, they work more slowly, are less efficient, and are less likely to “go the extra mile” to ensure a great patient experience. When an unhappy staff member isn’t giving a great patient experience, that patient is less likely to be a repeat patient and unlikely to refer anyone else to your practice. Over time, this could potentially cost you dozens of patients and thousands of dollars.

Unhappy staff make other staff unhappy. When one person is feeling unmotivated, unappreciated, or disgruntled, their attitude affects those around them. Other staff are forced to work harder to compensate for the lack of productivity. One person complaining about being unhappy can hurt the morale of every other person in your office. What starts as a seemingly small problem can quickly gain momentum if it isn’t addressed quickly and correctly.

Unhappy staff are more likely to quit. On the surface, this may seem like a good thing: take the poor attitude and low morale out of the equation. However, the cost of finding, hiring, and training a replacement can be high. Even more, the most common reason why an employee quits a job is that they feel unappreciated and/or unsupported by management. Chances are good that if one of your staff feels that way, others aren’t far behind.

Overcome team morale issues with good leadership. As the dentist and CEO of the practice, you are the primary person your team is looking to for leadership. Hold yourself accountable to your team for following through on your promises. Deal with conflicts as soon as they arise. Have an open door policy that makes your staff feel comfortable coming to you with problems so you can address them before they become unmanageable.

Hold regular effective team meetings to ensure every team member understands their place in your vision for the practice. Recognize individual and team successes. Show appreciation. Ensure that you are supportive of any staff empowered to make decisions. If you need to coach them on a change in policy, do so privately to avoid undermining their authority.

You are the leader of your team. The trust, support, recognition, appreciation, and respect you give to your team is the foundation of your team’s morale. When you create a great working environment, your team morale is high. High team morale creates a better patient experience and greater productivity, which benefits everyone. To ensure your practice thrives, make your team’s morale a priority.

A dental CPA team can help you evaluate areas of opportunity. Contact us today. 

Parlade, Schaefer,& Schortz CPAS, PA Email: info@psscpas.com Phone: (305) 670-0400 Url: https://cpasps.com/ 5975 Sunset Drive, Ste 802 South Miami, FL 33143

Florida Dental CPAs | Medicine for Your Business

Dental Accounting in Florida

The business world often goes hand in hand with stress. Pressures to attract new customers, meet quotas, or increase productivity can make working feel like an unpleasant chore. If you have begun to dread going into the office due to an oppressive atmosphere, chances are strong that you are not alone in your feelings. Turning things around for you and your team may be easier than you think. Consider adding fun back to your business with a daily dose of laughter.

While the addition of humor to the workplace does not move deadlines or reduce the expectations for performance, it can help create a more enjoyable environment for everyone there. When the office feels fun and engaging, the work feels lighter and more accessible. Scientific studies have shown that laughter relieves tension, boosts the immune system, and relaxes the muscles. Additionally, laughing can increase memory, energy, and creativity and elevate the mood. Every office can benefit from these effects.

There are many ways to inject some humor into your workdays. Try sharing a joke with your team to start the huddle and invite them to bring their own. Post a board in a shared space and challenge everyone to bring a funny image or comic strip to hang. Have a silly shirt day once a week or once a month. Take silly photos or videos of you and your team to share on social media.

Embracing a little more humor with your colleagues and team takes only a small investment of time and can yield large increases in mood, productivity, and worker morale. For more ideas on making your work more engaging, contact our office.

Parlade, Schaefer,& Schortz CPAS, PA Email: info@psscpas.com Phone: (305) 670-0400 Url: https://cpasps.com/ 5975 Sunset Drive, Ste 802 South Miami, FL 33143

Miami Accountant | Smart Money – Filing Taxes with an Accountant

Did you know that more than 65% of failed businesses blame financial mismanagement as their downfall? This is why forming a good relationship with a professional financial advisor is paramount to the longevity of your business.

When is the most important time to have this established relationship in place? That’s right – tax time. If you’re thinking about taking any shortcuts during this time (like using online software), you may want to reconsider. Why risk your entire business by cutting corners on something so crucial? Consider these reasons why you should work with a professional accountant.

Accountants understand tax code. Tax code is not only complicated – it changes frequently. It’s literally a full-time job interpreting and staying up to date. A financial professional will be able to guide you through this and take that stress off your plate. You’re already busy enough without having to keep up to date on tax law. Knowing you’re working with a professional can eliminate the stress of tax compliance. It’s hard to put a price on peace of mind.

Accountants know how to get you more deductions. Everyone wants to maximize their deductions, but only a true professional financial expert can get you everything you deserve.  Don’t leave any money on the table and don’t overpay on your taxes. Working with an accountant throughout the year will ensure you have the documentation you need to get your deductions and not overpay your taxes. This is exceptionally important especially for small businesses, like most dental offices.

Accountants minimize your risk. Are taxes the place where you want to cut corners and take a risk with your business and your team’s financial future? One mistake can land you in a heap of trouble. No one wants to deal with any sort of issue with the IRS let alone an audit. If you run into one of these scenarios, you’ll wind up paying far more than you would have if you worked with a professional from the beginning.

Everyone is willing to take some risks, especially small business owners and entrepreneurs.  Being brave enough to start your own business or follow your dreams is a risk in itself.  Don’t jeopardize your dream by cutting corners on one of the most important tasks of every year.  Work with a financial professional and allow yourself the peace of mind to protect what you’ve built.

A dental CPA team can help you evaluate areas of opportunity. Contact us today. 

Parlade, Schaefer,& Schortz CPAS, PA Email: info@psscpas.com Phone: (305) 670-0400 Url: https://cpasps.com/ 5975 Sunset Drive, Ste 802 South Miami, FL 33143

CPA Near Me | Career Tips for New Dentists

Starting your professional career as a new dentist can be one of the most exciting (and anxious) times of your life. Whether you are beginning your own practice or joining one, there are several important aspects to keep in mind. We have compiled a quick guide that will help you manage your priorities as a new dentist with confidence.

  1. Protect Your Work-Life Balance – While you might be used to a heavy schedule during your years in academia, don’t let yourself burn out. You deserve a healthy work-life balance. By setting expectations and following them, you can enjoy your time with friends, family, or hobbies without feeling tread on by your work schedule.
  2. Know Your Strengths – Your practice should center on two things: what you are compassionate about, and what you are incredible at. Don’t pursue a specialty just to appeal to your community if it isn’t something you are excited about. Focusing on your strengths will bring you more satisfaction in your work as well as higher quality to your service.
  3. Manage Your Debt – Dental school graduates usually have a significant trail of student debt following them. Whether you refinance, make extra payments, or choose an alternate repayment plan, focus on reducing your balance instead of simply paying off the interest. Don’t forget to contribute early to your retirement fund, either. The best time to start saving was yesterday.
  4. Successful Practice Management – A dental practice is a business, and a business needs a strong leader. Dental schools don’t typically prepare you for the financial and leadership elements of your career, so don’t be afraid to seek coaches or consultants. With the right mentor, both you and your practice can succeed.
  5. Continue Your Education – The last advice you want to hear as a new dentist is ‘more schooling,’ but it’s true. Once you have settled in, you should look for new opportunities to hone your skills. There exists a world of workshops, lectures, and courses that can further your passion in dentistry, bring you confidence in your work, and improve the value of your practice.

With the right mindset and plan, you can build yourself up as a new dentist, achieving your leadership and financial goals. If you are considering starting your own practice, our team will be the resource you need to secure your future in success. Contact us today to schedule a consultation.

Parlade, Schaefer,& Schortz CPAS, PA Email: info@psscpas.com Phone: (305) 670-0400 Url: https://cpasps.com/ 5975 Sunset Drive, Ste 802 South Miami, FL 33143

South Miami CPA | Opportunity Called – Did You Answer?

CPA in South Miami

The first step to growing your practice is attracting new patients. Your website, social media, and marketing are all geared toward the idea of getting people to call your office. To help convert this interest into new patient appointments, you have probably spent time selecting and training the team members who answer the phones during office hours. But have you considered what happens when a prospective patient calls when the practice is closed?

If a person calls your office for information about a service or comparison shopping, they may decide to call back within your business hours. Chances are, they were not ready to schedule an appointment at the time of the call, so they may accept the delay and still call back. However, a new or current patient who is experiencing a dental emergency is far more likely to hang up and try calling another dentist who has someone answering the phones and ready to help.

Many dental practices do not have any coverage for phone calls outside their hours of operation or during lunch hour. Others have an impersonal answering machine advising callers of the practice hours and perhaps offering to record a message. This can be extremely frustrating for your patients, both current and prospective.

If your patient discovers on Friday afternoon or evening that they will need to reschedule an appointment set for Monday morning, chances are that message will not be heard until it is too late to move another patient into the opening. If your phones are being answered outside working hours, this can be addressed much more promptly, leading to better scheduling and happier patients.

You may be wondering how to arrange to have 24/7 phone coverage. There are a few options available, but one of the most economical and most personal for your practice is to train some of your team members to share the responsibility. No one has better knowledge of your practice, your patients, and your schedule than your own team. You will want to decide on the best way to compensate them for the added time, such as paying them a set amount per weekend or evening day or an amount per call answered.

Once this is determined, arrange a rotation for the team members who will participate. Your main phone line can be forwarded to a practice-owned mobile phone during off-hours, which can be held by the team member on call. Be sure that each person has your after-hours contact information in case of an emergency, especially when you are first launching this system.

After a few months, hold a meeting with all the involved team members to review the number of after-hours calls you receive, what times are most common, and how many are converted into new appointments for your practice. This can help you value the ROI for this new plan of action and to determine whether your office benefits from full 24/7 coverage or if a more limited extension of hours is more cost-effective.

Call for more information.

Parlade, Schaefer,& Schortz CPAS, PA Email: info@psscpas.com Phone: (305) 670-0400 Url: https://cpasps.com/ 5975 Sunset Drive, Ste 802 South Miami, FL 33143

South Miami CPAs | Boost Your Case Acceptance by Connecting with Patients

CPAs South Miami

For many dentists, treatment acceptance can be a difficult topic. Nobody enjoys feeling pushy about a service they provide or a product that they offer, and the same concept holds true in dentistry. However, did you know that you can improve your case acceptance rate by simply reworking the way you talk to your patients? Learn how to have two-sided patient communication in our latest blog.

Help Them Understand the Benefits

When approached with an important decision from an outside source, people tend to be on the defensive — especially when it comes to something as intimate as healthcare. That’s why you should rethink the way that you handle case acceptance.

  • Your patient needs to understand their situation, whether it is a cosmetic issue, a preventative measure, or an urgent oral health concern.
  • Patients need to be able to follow your reasoning for why the service is necessary and how exactly it can change their oral health for the better.

Once they have a true understanding of the ‘problem’ and the ‘solution,’ they will feel more compelled to accept the treatment they need.

Stop Speaking and Listen

During your patient appointments, don’t simply run through the checklist of explaining their treatment. Patients want to feel that they’ve been listened to, not talked at. 

Ask what their goals, needs, and concerns with regards to their oral health, confidence, and quality-of-life. Then, let them speak. Giving them the chance to voice their own opinion shows you care about them and how they feel, both before and after their treatment.

Educate and Elevate

Patient education is important. While there is a fine line between explaining and over-explaining, you should do your best to educate your patients about their oral health.  Avoid judgment and being too graphic, but provide a thorough explanation of their current dental and oral health. 

If they are curious about tiny cracks in their teeth, explain craze lines. If they want to know why their gums bleed when they floss, explain periodontal health and how to prevent it. When patients feel that you are invested in not only their wellbeing but their education, too, they feel more confident in the care you’re providing.

You can increase patient acceptance by having a two-way conversation with patients and including them in their oral health.  These conversations will ensure patients understand their problem and are given a solution, are allowed to discuss their own concerns and goals, and are educated on treatment and services.  Patients will feel that your suggestions are being given with their best interest in mind — that you care about your patients as individuals, not just as a mouth to fix or a goal to meet.

Schedule a consultation with our team today to discuss more techniques on how you can boost treatment acceptance and improve your practice.

Phone: (305) 670-04 Parlade, Schaefer,& Schortz CPAS, PA Email: info@psscpas.com Phone: (305) 670-0400 Url: https://cpasps.com/ 5975 Sunset Drive, Ste 802 South Miami, FL 33143

CPAs in South Miami | 5 Signs You Need an Accountant

South Miami CPA

Have you wondered whether you actually need to have a professional accountant? Here are 5 signs that confirm you do:

1)     You earn over $200,000 per year – Your odds of being audited once you start earning over $200,000 a year increases to nearly 4%. While this may not seem like a large number, it’s actually an increase of over 300%. Having your financials in order in case this does occur is vitally important once you become a high-earner.

2)     You are a business owner or are self-employed – Utilizing the services of an accounting professional is vitally important for any business owner or entrepreneur. Tax laws change annually. The current US tax code has over 7 million words in it. Making sure all of your deductions are included, your assets are depreciating properly, and you are maximizing your tax savings will wind up saving you money in the long run.

3)     You are setting money aside for others – When putting money aside for your children, grandchildren, or anyone you want to take care of, it’s very important to use a financial professional to decide which vehicles to use for tax-deferred or tax-free savings. This includes college savings plans or trusts.

4)     You are incurring large capital gains tax – The key to success in paying big capital gains tax is paying at long-term rates. An accountant can help you with a Qualified Small Business Tax Credit, minimize your taxes, and help you set long-term payment goals.

5)     You are experiencing rapid growth in your business – Not only is keeping your finances up to date time-consuming, it’s also complicated. When you’re experiencing rapid growth, it’s time to call in an accounting professional. Having more customers, employees, and vendors is going to require more paperwork and number crunching and can rapidly become impossible for you to manage.

For more information, contact our office.For more information, contact our office.

5975 Sunset Drive, Suite 802
South Miami, FL 33143

Phone: (305) 670-0400

South Miami CPAs | The Bright Side of Customer Complaints

CPAs in South Miami

No matter how fantastic you and your team are, you will occasionally have a customer complain about something. When this happens, you and your team may feel discouraged, frustrated, or even annoyed, depending on the specific complaint and how it was shared. It can be easy to brush the complaint aside and tell yourself that the client was just having a bad day. However, changing the way you think about customer complaints can be highly beneficial to your business.

Client complaints may involve anything from office décor or other customers to the time, cost, or outcome of a business transaction. Even concerns that feel trivial or unfair to you should be handled with respect and appreciation. Like any consumer, your client wants to feel like you care about their experience and their feelings. A complaint is an opportunity for you to win back a customer’s trust.

If you thank your customer for bringing their concerns to you, commit to taking action to correct the situation, and follow through on your commitment, you will earn loyalty from that client. This loyalty can translate into additional business from the client, and even referrals to friends, family, and social media connections. Over time, handing one complaint as an opportunity to improve can lead to hundreds or even thousands of dollars in revenue.

However, if customers leave your office feeling that their concerns are unimportant to you, they will likely look elsewhere for business in the future. Unhappy clients do not stay with your business. They do not refer others to you. They may even tell others about their unpleasant experience with your office, which can cost you potential customers and revenue.

Every customer complaint you receive is a gift. Your team or business may have a weakness that you were unaware was an issue. If one client voices a complaint, it is likely that others have noticed the problem as well. Consider asking customers for feedback after a visit. Let them know proactively that you appreciate their input and are ready and willing to provide the best experience possible. When your customers feel valued, they will be more loyal to you, your team, and your company.

For more tips on providing a better customer experience, contact our office.

5975 Sunset Drive, Suite 802
South Miami, FL 33143

Phone: (305) 670-0400