The Dental Boardroom

The PTE Deductions: Don’t Miss Out! If you're a dental practice owner in a state with state-level income taxes—this episode with is for you. Host Wes Read CPA, CFP dives deep into the Pass-Through Entity (PTE) Tax Election, a tax-saving strategy that can turn your state tax payments into a federal tax deduction. This is especially important for dentists in high-tax states like California, New York...

Welcome back to The Dental Boardroom Podcast with Wes Read. In this follow-up to our previous episode on structuring your Profit & Loss (P&L) statement with Wes Read CPA, CFP, we dive deeper into the how of using your financials strategically. This episode walks you through 10 essential questions—or rather, areas of focus—to ask each month when reviewing your financial statements. These qu...

In this episode with Wes Read CPA, CFP and founder of PracticeCFO, explore a topic that is absolutely foundational to the financial success of your dental practice— your financial statements . Host [Your Name] (or "I") breaks down the importance of understanding your Profit & Loss Statement (P&L) and how it reflects the economic health of your practice. Whether you’re preparing to sell you...

In this episode of The Dental Boardroom Podcast , Wes Read CPA, CFP, founder of a dental CPA and financial planning firm, dives deep into the Employee Retention Credit (ERC)—what it was, how it worked, and the lingering tax implications that dentists still need to address in 2025. From qualification rules and tax amendments to why the IRS is still behind on guidance, Wes breaks it all down with cl...

Selling a dental practice is one of the biggest financial decisions in a dentist’s life—and it’s easy to make costly mistakes. In this episode, Brian Hanks sits down with Wes Read, CPA and founder of PracticeCFO, to break down the top 5 most common mistakes dentists make when selling their practice. From bad timing to poor team assembly, Wes and Brian share the insights every seller needs to avoid...

In this powerful episode of The Dental Boardroom Podcast , host Wes Reed, CPA and CFP, sits down with the dynamic Stacy Farley—former corporate sales leader turned dental practice powerhouse. Stacy shares her remarkable journey from business and sales into the world of dentistry, specifically her transformational work in her father’s full arch dental practice. Together, they explore what it really...

Your credit score may not seem like a daily concern, but as a dentist, managing debt is an unavoidable reality. Whether it's student loans, a practice acquisition, or buying a home, your credit score can be the deciding factor in securing favorable loan terms. In this episode, we break down the essentials of credit scores, how they impact your financial future, and key strategies to improve and ma...

Summary: In this episode of The Dental Boardroom Podcast , Wes Reed, CPA and Certified Financial Planner, dives into the critical importance of having an emergency reserve fund both personally and for your dental practice. Wes breaks down why cash reserves act as "sleep insurance," offering peace of mind during financial fluctuations. He shares insights on how much money to set aside, how to manag...

Episode Summary: In this episode of The Dental Boardroom Podcast, Wes Read, CPA and Certified Financial Planner, dives into the importance of establishing a spending plan to achieve long-term financial freedom. Wes discusses common financial pitfalls dentists face, the psychological challenges around budgeting, and actionable strategies for taking control of your money. Learn how effective spendin...

Summary: Join us for an insightful discussion on the current state of dentistry in 2025. In this episode, we explore the latest financial trends, the best locations for dentists, and the biggest challenges facing the industry today. From compensation disparities between practice owners and associates to the growing influence of AI and teledentistry, we break down what every dental professional nee...

Episode Summary: In this episode of The Dental Boardroom , host Wes dives into a vital yet often overlooked topic: the intersection of health, wellness, and dentistry. Joined by dental coach Steve Sperry and senior CFO advisor Andrew, the discussion highlights how dentists can integrate exercise, stretching, and stress management into their demanding schedules. From personal stories about back pai...

Podcast Summary: In this episode, we delve into one of the most critical aspects of running a successful dental partnership: profit allocation. Drawing parallels between marriage dynamics and business partnerships, we explore three core models for distributing profits among dental practice owners. These models — the 50/50 Model, Associate-Owner Model, and Full Allocation Model — are unpacked to he...

Summary: In this episode, we explore the financial and legal intricacies of dental partnerships. Learn about the pros and cons of various legal structures, including S corporations and partnerships, and why selecting the right setup is crucial for tax efficiency and liability protection. Our host also shares tips on payroll, 401(k) planning, and navigating IRS requirements. Plus, discover how Prac...

Episode Summary: In this episode, we dive deep into the intricacies of valuing dental practices, particularly in the context of partnerships. We break down key valuation concepts for general practitioners (GPs) and how factors like cash flow, overhead, and goodwill contribute to a practice’s overall worth. We also explore different partnership models, including associate buy-ins and common pitfall...

Episode Summary: In this episode. we dive into the essentials of forming a successful dental partnership—a vital strategy in today's challenging economic landscape for dental practices. Our host draws on over 15 years of experience to highlight the financial and personal benefits of partnerships, explaining how joining forces can alleviate cost pressure, increase profitability, and create a suppor...

In this episode of The Dental Boardroom Podcast , host Wes continues his deep dive into dental partnerships, focusing on the potential downsides. Following the previous discussion on the advantages of partnerships, Wes now addresses key challenges such as decision-making conflicts, differing mission statements, profit allocation issues, and the complexities of new patient distribution. Whether you...

Episode Summary: In this episode of The Dental Boardroom Podcast , host Wes Reid kicks off a six-part series on dental partnerships. Whether you’re in a partnership or considering one, this series is packed with insights. Today’s episode focuses on the pros of dental partnerships, with a deep dive into how financial efficiencies, particularly in overhead costs, can benefit multi-doctor practices....

Summary : In this episode of the Dental Boardroom Podcast , host Drew Phillips welcomes Beth LaChance, CEO of Global Medical Virtual Assistants, to discuss how virtual assistants are transforming dental and medical practices. With a growing need for staffing solutions post-COVID, Beth shares how her company is filling the gap by providing highly qualified virtual professionals. Learn how integrati...

What are the most common delays that prolong a practice sale? In general, the people who hold up deals are banks and landlords. But there are steps both buyers and sellers can take to prevent these delays and shorten the timeline for a dental practice sale! On this episode of the Dental Board Room Podcast, Dental Attorney Matt Odgers joins host Wes Read to continue their conversation on expediting...

Once a dentist makes the decision to sell their practice, they want it done yesterday.  So, how long does a practice sale usually take? What can you do to accelerate that timeline? On this episode of the Dental Board Room Podcast, Dental Attorney Matt Odgers joins host Wes Read to walk you through a typical timeline for selling a dental practice. Matt and Wes discuss common delays that prolon...

When is the best time to sell your dental practice? What factors should you consider to get the best price for your practice and have the best quality of life in retirement? On this episode of the Dental Board Room Podcast, recurring guest Matt Odgers joins host Wes Read to explain why you want to start the process of selling your practice when collections are on the upswing. Matt and Wes discuss...

Is a salesperson trying to talk you into claiming an R&D tax credit for your dental office?  It can be tempting to trust a pitch like this and leverage research and development to reduce your tax liability. But how do you satisfy IRS criteria for the R&D tax credit? What documentation do you need? And what happens if you get audited? Andre Shevchuck serves as Partner at BPM , one of t...

You’ve worked so hard for so long to build a private dental practice in your community. But now you’re thinking about exiting the business. So, how do you know when it’s time to retire? What can you do to plan for the next chapter of your life? Dr. Kevin M. Kenny is Adjunct Professor at the University of California, San Diego, and Founder of The Dr. Kevin M. Kenny Foundation , an organization that...

For most practice owners, the dentistry is the easy part. What’s hard is managing your team, especially with the current dental staffing shortage. So, what factors contribute to this shortage of staff? What can doctors do to solve this systemic issue? David Schwab, PhD,   is a professional speaker, author and dental practice management consultant who helps dentists grow their practices, educa...

In the aftermath of COVID, there was a massive boom in dental practice transactions.  The market finally corrected itself in 2023. And while doctor-to-doctor private sales remained consistent, DSO sales slowed dramatically. So, what caused these market trends? What does the market look like so far in 2024? And how will understanding trends help you make informed decisions as you buy or sell y...