Tax and Bookkeeping Help for Medical and Dental Practices
Running a practice means wearing two hats: caring for patients and running a business. Between insurance reimbursements, equipment costs, entity decisions and high personal tax brackets, physicians and dentists face financial questions that deserve careful attention.
Raymond G. Kenney, CPA works directly with practice owners and healthcare professionals. Ray helps keep your practice books accurate, plans ahead for taxes on both the business and personal side, and prepares returns so you can focus on patient care.
Common Challenges and How Ray Helps
- Practice bookkeeping. Ray keeps monthly books and reconciliations accurate, so you have clear reports on revenue, overhead and cash flow.
- Entity and S-corp planning. Many practices operate as professional corporations or PLLCs. Ray explains the tax effects of each structure and whether an S-corp election fits, including setting a reasonable salary.
- Retirement plan tax strategy. Retirement plans such as a 401(k), SEP-IRA or cash balance plan can be among the most effective ways to reduce taxes for high earners. Ray helps you understand the tax side of each option and coordinates with your plan provider or financial advisor.
- Physician and dentist personal returns. Ray prepares personal returns that tie in practice income, investments and other items, with attention to issues that often affect high earners, like the Net Investment Income Tax and limits on certain deductions.
- Year-round tax planning. Ray reviews your numbers during the year, not just in April, to plan for equipment purchases, estimated taxes and timing.
- Notices and questions. If you get a letter from the IRS or New York State, Ray reviews it and explains your options.
Related Services
- Monthly bookkeeping: accurate books and monthly reports
- Virtual CFO services: budgeting, forecasting and cash-flow guidance
- Year-round tax planning: entity, retirement and timing strategy
- S-corp and C-corp tax preparation: returns for professional corporations
- Partnership and multi-member LLC returns: for group practices
- Individual tax preparation: personal returns for physicians and dentists
- QuickBooks setup and optimization: a clean, practice-ready file
- Tax resolution: help with IRS or New York State notices
Why Work With Ray
Ray is a licensed New York CPA in practice since 2015 and a member of the AICPA and the NYSSCPA. You deal with him directly, from your first call through filing, and he’ll explain things in plain language.
Work With Ray From Anywhere
Prefer to work remotely? Ray works with clients locally and remotely across the U.S. by phone, video and email. Work with Ray from anywhere.
Frequently Asked Questions
Should my practice be an S-corp?
It may help once profits are steady, since an S-corp can reduce self-employment tax on income above a reasonable salary. Professional entities in New York, like PCs and PLLCs, can often make the election, but the right answer depends on your income, state rules and goals.
Which retirement plan is best for a practice owner?
There's no single answer. A SEP-IRA is simple, a 401(k) can allow higher contributions and employee participation, and a cash balance plan may allow larger contributions for older high earners. Contribution limits change yearly, so review options with your CPA and plan provider.
Can you help with both my practice and my personal return?
Yes. Ray prepares business and personal returns together, which makes it easier to plan across both and avoid surprises.
Get Started
Have questions about your situation? Talk with Ray. Monday–Friday, 9–5.