<b>Accounting and </b> <b>Business Consulting firm </b>

CFO Ortho is an accounting firm that services medical professionals in the dental industry (General Dentists, Orthodontists, Endodontists, Periodontists, etc.). We offer specialized financial services tailored to meet the needs of each office. With CFO by your side, you can leave all the number crunching to us so that you can focus on serving your patients and have accurate data to know how to efficiently grow your business. Whether you are in the start-up phase, acquiring a practice phase, growth/maintain phase or staging your business to sell phase, we can help.

Our Services in Different Phases of Business

Our Services in Different Phases of Business

Start-Up Phase

We view the relationship as a long-term partnership and therefore we want to make sure you are properly set-up from the beginning. Setting up the right tax entity, structuring your bank financing properly, setting up payroll and accounting systems, executing appropriate legal documents, and filing the appropriate tax forms are critical to avoid costly mistakes. CFO Ortho helps you navigate through these important steps and if needed we work with your attorney and practice consultants to make sure everything is done correctly from the beginning.

  • Our flat initial set-up fee of $399 covers common services and consultations needed before you open the doors. It includes setting up or reviewing business structure and legal documents. It also includes setting up payroll and accounting systems before you start hiring employees or seeing patients.
  • Once the doors are open, we can take care of reconciling practice management software with bank statements and accounting systems, generate quarterly financials, process payroll, and file your taxes (both business and personal during the first 12 months).  
  • We know funds are often limited when a practice initially starts. We try and accommodate the challenges of a beginning business by keeping our first-year fees low so your business can grow.

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Acquisition Phase

During the acquisition phase, common questions you should be asking yourself are the following: What is the true value of the practice and am I overpaying for it? How should the deal be structured to keep my risk and exposure to a minimum? How much work-in-capital will I need to fund operations for the first couple of months during the transition? How do I obtain affordable financing and what would be the ideal terms for the loan? How much of the purchase price should be allocated to fixed assets, non-compete, and goodwill? Should I purchase the accounts receivable or not? What is my business plan once I acquire the practice? What changes do I plan to make and how will those impact my profits and cash?
Every practice acquisition is unique, and having a good team of professionals is critical to successfully navigate the acquisition of a practice. CFO Ortho has valuable experience in the acquisition of practices. We work well with your acquisition team and take a long-term financial analysis approach to how the deal should be structured. We view our relationship as a long-term partnership, and we help you make good financial decisions.

  • Typical services include modeling the financial aspects of the acquisition, optimizing the deal structure from a tax and financial perspective, reviewing legal documents, setting up or reviewing the business structure, filing business registrations, and setting up payroll and accounting systems. We offer our service at a flat fee and not on an hourly basis because we want you to experience for yourself our vested interest in your business and the value we can bring to the relationship as you include us in your business decisions.  Give us a call so we can help!

Growth / Maintain Phase

Healthy growth is vital to a successful practice. It is important to make sure that growth is sustainable, and your profit margins are in line with the size of your practice. We take care of your bookkeeping, establish budgets, generate financials, run your payroll, file your business and personal taxes, set up cost-efficient 401K plans, and help you evaluate which front-office services could best be outsourced and which services you should keep in-house. We charge a flat monthly rate as low as $575/month. The amount of work required to manage the financial aspects of your business is variable, depending on how the volume of production. While the price varies based on the size of your firm, the basic standard services for each office are the same, and include the following:

Bookkeeping Services:

  • Creating and maintaining chart of accounts and vendor lists
  • Properly categorizing expenses so consistent financials can be generated
  • Accounting journal entries for balance sheet items and equity transactions
  • Organizing and retaining invoices for proper financial record retention purposes and potential audits

Financial Analytics:

  • Real-time financials are available 24/7 with your QuickBooks® online account
  • Customized financial reports are sent by the 10th of the following month, giving you comparisons to industry standards.
  • Semi-annual financial reports and analytical reports are generated to help with financial projections and tax projections
  • Reconciling practice management software and bank statements with QuickBooks

Payroll Services:

  • Easy online access for all staff.
  • Simple procedures to submit payroll hours
  • Paying your payroll taxes.
  • Filing quarterly and annual payroll tax filings
  • Mailing W2s and 1099s for employees and independent contractors

Tax Planning & Tax Preparation:

  • Quarterly estimated tax payments
  • Semi-annual tax projections
  • Evaluating tax minimization strategies with experienced CPAs who specialize in your industry
  • Preparation of one business tax return and one personal tax return (additional fees will be required for multiple business entities such as your real estate entities)
  • Optimizing wage compensation versus business owner distributions


Selling Practice Phase

You have worked hard to build your practice to what it is today, and you are wondering what steps you should take now to eventually sell your practice so you can retire comfortably. Ideally, you should start this process 4-5 years before you want to sell your business. If you are wanting to maximize the purchase price of your practice you will need to start cleaning up your financials and improve the efficiency of your operations.

Additionally, you will want to go through the process of completing a comprehensive personal financial plan to evaluate your personal finances, estate documents, investment portfolios, retirement projections, financial risks, and establish clear financial goals and objectives.

Do you own the business real estate and should you sell that with your practice or hold on to it? CFO Ortho helps you through this critical phase of your career so you can exit your business and retire comfortably.

Give us a call so that we can complete a free introductory business evaluation and give you an estimated fee for our service. If you are not currently a client, CFO Ortho will want to start by helping you with the standard services mentioned in the Growth/Maintain Phase so that we can better assist you in staging your business to sell.

Other Services

We are a group of professionals ready to share our knowledge and expertise that we have gathered over the years as we have served professionals in your industry. Our goal is to help your practice succeed and for your net-worth to grow.  In order for your net-worth to grow you need a profitable practice and you need to properly allocate those profits in a way that will best achieve your personal financial goals.  Whether it is paying off your debts, buying a home, investing for retirement, we can help you make informed decisions with your money and create a personalized financial plan tailored to your specific needs. 

Other services which are not included in our standard services but are available for a nominal fee are some of the following:

  • Establish cost efficient retirement plans for your office
  • Hiring associates either as employees or contractors
  • Personal financial planning services
  • Business succession planning services
  • Business consulting services
  • Selling part or all of your business
  • Budgeting and forecasting services
  • Detailed analytics and management reports
  • Debt restructuring
  • Acquiring and managing multiple practices
  • Analyzing outsourcing options
  • Establishing office dashboards and performance metrics

Contact us so we can discuss your specific scenario and let us complete a free introductory business evaluation for you. Give us a call now!