Subject: 556 - Practice Transitions & Associateships
Credits: 3 Lecture
Friday, June 19: 8 to 11 a.m.
Audience: D, R
Fee: $50
Location: Moscone West, Level 2, Room 2024
Speaker Bio: Plano, TX; Owner, Cain Watters & Associates, CPA/financial planning firm
Description: Preparing to enter a partnership and to transition a dental practice is a wonderful financial opportunity for both the buyer and the seller. However, partnership/transition opportunities are not just about dollars and cents. In fact, creating a perfect partnership structure and taking into account intangibles like goodwill and dedication are of utmost importance. Failure to accomplish this leads to a large number of failed partnerships and to associates that never become partners. Over the past 30 years, we have created a methodology to transition dental practices of all specialties, and have successfully done so over 600 times with a high associate-to-partner success rate. This lecture presents information on how to create a successful partnership that is fair and equitable to both parties. In addition, it shows how the transition will have significant tax advantages for both the buyer and the seller, creating a win-win transition.
Learning Objectives:
The topics covered during this lecture will give you a thorough outline of considerations to be made when contemplating a partnership. Finding an appropriate value for the practice and somebody who wants to buy it is simply not enough. You must identify when you are financially ready to sell and the effect the sale will have on your financial future and earnings. Additionally, you must identify how much of the practice is an appropriate amount for the buyer to purchase, whether bank-financing or owner-financing is appropriate, how the money will be split, how you terminate the deal if something adverse happens, how each party should be incorporated, and what type of pension plan needs to be in place.
is the Presenting Sponsor of this course.
