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Business, Legal, and Tax Planning for the Dental Practice, 2nd Edition

Editorial Reviews

The information in this book is invaluable for every dentist to have, and it should be on the shelf in its updated version in every dental office in America...I recommend this book to every practicing dentist...” --from the Foreword by Dr. James R. Pride

Book Info
Completely rewritten text with 11 added chapters. Incorporates changes in the tax law from the Economic Growth and Tax Reconciliation Act of 2001, particularly the retirement plan chapter and the estate planning chapter. For dentists and dental specialists. Previous edition: c1994.

A Comprehensive Guide for Every Dentist

• Associate Buy-Ins and Owner Buy-Outs

• Establishing or Relocating a Practice

• Sale and Purchase of a Practice

• Facility Lease, Purchase or Sale

• Pension and Estate Planning

• Strategic Practice Planning

• Valuation of a Practice

• Staffing Issues

• Fringe Benefits

• Business Deductions

About the Author

For 11 years, William P. Prescott has advised clients on the topics presented in this book. He knows the business, legal, and tax issues facing the dental or specialty practitioner by experience — not theory.


The Law on Practice Success Planning
1. Steps to Retirement • 2. Assessing Succession Options • 3. Negotiating the Win-Win Practice Sale and Acquisition • 4. Hiring and Becoming the Associate • 5. Using Restrictive Covenants for the Associate and Departing Owner • 6. Planning Associate Buy-Ins and Owner Buy-Outs • 7. Why Solo Groups Make Sense • 8. Selling to or Working for a Dental Service Management Organization — The Economics and Future

Valuing Your Practice 9. Understanding Practice Valuations • 10. Calculating Practice Value in a Changing Market

Practice Operations 11. Finding and Retaining Quality Employees • 12. Implementing and Updating Your Strategic Practice Plan • 13. Dispute Resolution — Finding • Middle Ground • 14. Negotiating Your Facility Lease • 15. Owning, Acquiring and Selling Your Building • 16. Selecting Your Practice Entity — S or C Corporation, LLC or Sole Proprietor • 17. Managed Care Contracts — What the Provisions Mean • 18. Designing, Relocating or Establishing the Practice Facility

Entering Practice 19. Assessing Your Practice Options * 20. Acquiring Your Practice — The Importance of Purchaser Due Diligence • 21. Implementing Effective Measurements and Controls

Personal Planning 22. Designing the “Right” Retirement Plan for Your Practice • 23. Review of Fringe Benefits and Business Deductions 24. Protecting Your Assets • 25. Planning Your Estate — Avoiding Probate and Family Fights • Summary and Thoughts for the Future