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An accountant recently wrote an article appearing in a dental magazine suggesting that all dentists should plan to work at least five years beyond their planned retirement date...
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Twenty years of practicing dentistry and Dr. A was tired. Tired of managing a practice with $1,000,000 plus of annual production, and tired of all the other responsibilities of practice ownership. He was tired of working hard and not getting ahead financially. He saw no way out because, with his lifestyle, he was spending more than he was making and the longer he kept this up, the further behind he was getting.
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Don’t listen to the doomsayers… dental practices are selling for higher prices than ever. It’s all a matter of knowing how to market a dental practice in this environment.
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Ask The Experts
Practice equity is a measurement of the net value of your dental practice, which is always based on a percentage of the annual gross collections of your practice.
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No, never!
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Sell now or build to sell? Sell for present value or sell for future value? Commit now, but defer the actual sale until later? Take cash or fund your pension plan with the value of your practice? These are just a few important considerations for a dentist who is thinking and planning for the future.
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