Current & Aspiring Practice Owners
Becoming a veterinary practice owner is a dream come true for many veterinarians. Practice owners enjoy high incomes and have many financial benefits available, but these benefits offer both challenges and opportunities toward building wealth. Our goal in working together is to help you maximize your cash flow, decrease your tax liability, and ensure you are properly protected, both personally and professionally.
We help provide guidance to current & aspiring practice owners through:
- Maximizing income, minimizing taxes
- Managing multiple sources of income from practice revenue and real estate
- Coordination with CPA to provide skillful tax planning to take advantage of tax breaks for practice owners
- Navigating overall student loan payments and planning for repayment or forgiveness
- Formulating and funding goals
- Retirement planning & other goal funding analysis
- Creating a cohesive and coordinated investment strategy
- Taking advantage of the best retirement savings vehicles as a business owner
- Protecting your wealth
- Properly insuring your income, assets, and business from unexpected events
- Proactive estate planning - determining the need for a trust, ensuring proper legal documents in place for business and family
If you are not yet a practice owner but working towards ownership, we can also assist with:
- Bridging the income gap as you move from employee to owner
- Preparing necessary documents lenders request such as net worth statement and balance sheet
- Understanding how your student loans affect the lending process
- Providing guidance as you draft the components of a business plan
- Assembling a support team (lender, accountant, lawyer, insurance broker, etc.) to set you up for success
With our open door policy, you can feel comfortable reaching out with any questions you have about your money. We're here to help!
Considering Practice Ownership?
I encourage you to get your copy of 'The 7 Actions To Take When You Want To Own Your Own Practice' to better understand the right financial metrics to track, what type of information are lenders looking for, how to create a well-designed business plan, and the professional relationships you may need on your path toward ownership.
