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...
Dr. Do-It-Yourself has been attempting to sell his dental practice for the past eighteen months. He is determined not to use a professional firm to sell his practice. He dislikes the idea of paying a fee for this service even if it saves him time and he will ultimately receive more money from the sale. He feels that people in a fee for service business are living off other peoples’ honest, hard-working labor. He is not going to let anyone else make any money from the sale of his dental practice!
Describing the benefits of AFTCO’s programs for the first time to a dentist is always a fun experience for an AFTCO analyst because the doctor begins to see that there is light at the end of the tunnel, and it is not a train! We offer programs that provide real freedom and quality of life to doctors who have spent most of their lives in the extremely labor intensive business of dentistry.
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The most widely used method for determining practice value is fair market value. The commonly accepted definition of fair market value is the price which a professional practice would produce, allowing reasonable time to find a purchaser, with both buyer and seller having access to full disclosure of information about each other.
This is a compounding rule applied to interest and used to determine how many years it takes for an investment to double in value in a tax deferred environment...
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