Health Care PhysiciansPhysicians Practice
Are you interested in starting your own practice? You have come to the right place! We can help set you up with an office in accordance to your preferences and specifications at a price you can afford. For a good startup practice you will need suitable equipment as well without losing too much of your capital. We can help you locate and negotiate on this equipment to make sure you get the best possible deal out of it and assist you in every step of planning. A business requires attention in several sectors and we can help you manage those sectors while you focus entirely on your patients.
CPA for Physicians
You didn’t get into medicine to invest a large portion of your valuable time managing the business side of healthcare; yet in stark reality every decision you make impacts your personal and professional finances.
At Smith & Smith & Ruiz CPA’s, an Arlington, Dallas & Seagoville Texas CPA Firm, we provide a wide variety of accounting and financial management services for physicians, other healthcare professionals. Our services are designed to simplify the process for you by providing comprehensive accounting, tax,bookkeeping,payroll and financial management services.
At Smith & Smith & Ruiz CPAs, along with the access you need, we also provide guidance headed by a team of advisors who are fluent with in-depth knowledge of the inevitable challenges and their solutions.
Smith & Smith & Ruiz CPAs will work with you closely to understand every aspect of your revenue cycle and workflow to help you uncover opportunities for development, improvement and acceleration. We’ll help you select the right technologies and offer you tools to make the most of it. We’ll make sure that the bottom line is protected and your valuable time is not wasted so that you can focus more on patient care.
As your practice prospers, we’ll be there, with answers to all relevant queries. We’ll always guide you through several ongoing challenges, including tax planning, revenue cycle acceleration, and preparation for retirement and even complex practice valuations such as selling practice or hospital integration.
If your practice is affected, Smith & Smith & Ruiz CPAs can help in optimizing it.
Services for physicians include
Tax Planning and Compliance01.
- Strategic Tax Forecasts
- Comprehensive Business-Personal Services
Revenue Cycle Acceleration03.
- Business Office Work Flow and Process Assessment
- Outsourced Business Office Assessment and Deficiency Correction Plans
- Interim Management
- QuickBooks® Consulting
- Payroll Preparation and Tax Reporting
- Accounting System Consultation, Implementation and Training
- Sales and Use Tax-Related Consulting
- Turnkey Controllership Services
- Employee Benefit Plan Administration
- Financial Statement Analysis and Preparation
- Business Plan Development
Operational Effectiveness and Profitability02.
- Operational Assessments and Workflow Redesign
- Staff Training to Improve Revenue Throughput
- Rightsizing Strategy and Implementation
- Managed Care Contracting to Optimize Opportunities
- Fraud Detection
- Sustainable Compensation Models That Incentivize
- Buy-Sell-Merge-Expansion Decision Propositions
- Start-up of Entrepreneurial Medical Practices
- Practice Valuation
- Employment Agreement Analysis
- Successful IT Integration and Implementation
Technology Enhancement and Utilization06.
- Practice Management System Optimization
- Multisystem Integration
A cardiologist received a letter from the IRS for delinquent payroll taxes that had already been paid.
The cardiologist was sure that the payroll taxes had been paid however, he needed help to prove this was the case. Our CPAs reviewed the tax payments and reconciled them to the various tax liabilities. Upon completion, it was determined that the aforementioned taxes were indeed paid. The issue was that they were applied incorrectly.
A group of doctors were looking for a CPA firm to help them form their new practice.
A group of doctors had been working for various practices and decided to form their own medical entity. They were sure that they could succeed given their experience and knowledge in their field of medicine. Needing a CPA firm to advise them on various tax decisions, they decided to seek the services of Smith & Smith & Ruiz CPAs, LLC.
An Oil & Gas company needed guidance on how to handle their growth.
They started as a sole proprietorship and were in search of a CPA firm that could advise them on how to handle the growth of their company. After searching for a firm, they decided to meet with Smith & Smith & Ruiz CPAs, LLC. In our initial meeting, we learned of their business and inquired about their goals. We decided that it was best for them to incorporate.
An owner of an auto shop came to Smith & Smith & Ruiz CPAs, LLC with a letter from the IRS.
This letter stated that an audit would be taking place. Having never been through an IRS audit, the owner needed help to prepare. We advised him on the process and shared our past experiences. When the audit came, we were there with him every step of the way.
The Dreaded Letter from the IRS.
A client received a letter from the IRS regarding his prior year tax return. Unfortunately, he was being audited. The IRS believed that expenses for his LLC were overstated and disallowed certain deductions. In addition, the IRS stated that the client owed thousands of dollars in penalties alone. We met with this client and went over all of the relevant documents. We were able to guide him through the process and provide him peace of mind. Upon review of transcripts and various documents, we met with an IRS agent on behalf of our client. This …
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