Using the correct accountancy process for your business minimizes risk, increases profits, and ensures sustainability. However, crunching numbers isn’t usually a priority for medical professionals – they’d rather attend to their patients. Nonetheless, running a private practice also means you are a small business owner and you cannot ignore financial considerations. Medical professionals have special accounting needs so it is very important you use an accounting firm with industry knowledge. dnm group handles the accounting needs of many doctors and medical practices and recognizes their unique challenges. We offer the following services for medical professionals:
Choosing the correct business form is extremely important as it has many financial and legal implications. Medical professionals may operate as a sole trader, medical company, discretionary trust, or service business.
dnm group can advise what’s best for you based on your needs. Each structure attracts different associated risks and tax consequences. We’ll help you choose a structure for optimal tax efficiency, asset and estate protection, and succession. We can also facilitate business establishment, sometimes with our partner legal firms.
Talk to us about your situation and objectives and we’ll give you an honest appraisement of what we can do for you. You can contact us here