STAC Bizness Solutions LLC

The Bigger the Practice, the Better?

The “million dollar practice” - the bigger the practice, is not always better. It’s important to understand that a million-dollar practice is not a goal, it’s simply a type of milestone.

The Bigger the Practice, the Better? Dentists dream big. When I have my first meeting with a client and we try to define their goals, it’s common for their sites to be set on exponential growth for their practice. I’ll be honest with you, it’s just as common to see more opportunity in effectively managing what they already have. ...

The Tax Deadline for 2022 is April 18th!

Part 4: 4 Key Performance Indicators Every Dental Practice Should be Tracking

4 Key Performance Indicators Every Dental Practice Should be Tracking
https://buff.ly/3ug0V4Q

While reviewing the financials is key, just having general awareness doesn’t (in and of itself) drive financial performance. It is also important that you establish specific performance measures that allow you to assess the current financial health of your dental practice and point you toward course correction as needed.

Here are four metrics (i.e., performance measures) we track and report for our clients.

Part 4: 4 Key Performance Indicators Every Dental Practice Should be Tracking While reviewing the financials is key, just having general awareness doesn’t (in and of itself) drive financial performance. It is also important that you establish specific performance measures that allow you to assess the current financial health of your dental practice and point you toward cour...

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Part 3: How Often Should a Dental Practice Review Their Financials?

If you’re only sitting down once a month to review your financials, you’re missing out on a real opportunity to improve the financial health of your practice. Here’s the problem. If you don’t review your January P&L until the second week of February, the information is already dated.

Great practices keep an ongoing eye on the financials

Part 3: How Often Should a Dental Practice Review Their Financials? If you’re only sitting down once a month to review your financials, you’re missing out on a real opportunity to improve the financial health of your practice. Here’s the problem. If you don’t review your January P&L until the second week of February, the information is already dated. Great p...

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We would like to invite you to come over to have a look at our Star of the South Dental Meeting booth. You can join us there for a chance to win Titleist golf balls, a Yeti cooler, and have a friendly chat with the STAC Bizness team. It is the perfect opportunity to get to know each other better and learn more about what we have to offer you.

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A Dental Practice’s Budget is the Roadmap to Success https://buff.ly/3HEb5Aq

While your vision and strategy serve to define your destination, it’s your annual and monthly budgets that act as your road map. Your budget maps the specific route to your practice’s financial success, and it also helps alert you when you get off track.

Here’s some high-level advice as well as a couple pitfalls we often see that you’ll want to avoid.

Part 1: A Thriving Dental Practice Starts with A Solid Strategy

A Thriving Dental Practice Starts with A Solid Strategy
Taking the time to consider these questions and document your strategic vision for your practice will ensure your vision and strategy are driving your financial decisions.

Part 1: A Thriving Dental Practice Starts with A Solid Strategy Great Patient Care = A Great Dental Practice. Well… Not Exactly.Think about those days when you were back in dental school. Chances are you envisioned a long career of treating patients, helping them to feel better and helping them live healthier lives. But what you probably did NOT envision are a...

Medical Practice Bookkeeping & Payroll Services in the Woodlands TX

7 Key Financial Practices That Separate Thriving, Growing Practices From The Rest. https://stacbiz.com/7-key-financial-practices/

There’s no denying it. Creating a thriving practice is about much more than practicing medicine!

In this FREE GUIDE, you will learn…
• How to gain clarity in your Practice’s strategy by asking 6 key questions
• The biggest pitfalls to avoid when it comes to budgeting
• 4 MUST-KNOW financial metrics to monitor and improve the health of your Practice
• How to avoid the big tax bill “surprise” and potential tax penalties

Medical Practice Bookkeeping & Payroll Services in the Woodlands TX STAC Bizness Solutions specializes in medical practice bookkeeping and payroll services in the Woodlands, TX. Call 844-424-9637 or Enquire Online.

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5 Things to Know about Year-End Bonuses

5 Things to Know about Year-End Bonuses

5 Things to Know about Year-End Bonuses According to Bank of America’s Fall 2017 Small Business Owner Report, 35%of small businesses plan to offer year-end bonuses. These bonuses are an important way to retain good employees, especially during this increasingly tight job market.

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De Minimis Fringe Benefits | Internal Revenue Service

Gift certificates that are redeemable for general merchandise or have a cash equivalent value are not de minimis benefits and are taxable --- make sure they are added to the employees W2 wages!

De Minimis Fringe Benefits | Internal Revenue Service Information about taxation of occasional benefits of minimal value.

It’s Holiday Bonus Time!

The holidays are a perfect time to express gratitude for what your employees have done throughout the year, but they also prompt some very valid questions.

Follow these best practices to keep your employees AND your dental practice happy!

It’s Holiday Bonus Time! Follow these best practices to keep your employees AND your medical practice happy!

Use of Electronic Accounting Software Records; Frequently Asked Questions and Answers | Internal Revenue Service

Electronic information management has become the standard in the private sector and is now being used to enhance the IRS examination process.

Use of Electronic Accounting Software Records; Frequently Asked Questions and Answers | Internal Revenue Service Answers to frequently asked questions when using electronic accounting software record files in Small Business/Self-employed examinations.

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What kind of records should I keep | Internal Revenue Service

What kind of records should I keep - here are the IRS guidelines.

What kind of records should I keep | Internal Revenue Service Find out the kinds of records you should keep for your business to show income and expenses for federal tax purposes.

“The way to get started is to quit talking and begin doing.” – Walt Disney

Properly Documenting Expenses: It’s a Medical Practice Bookkeeping MUST DO.

When it comes to your taxes and keeping YOU free from IRS headaches, it pays to properly document your expenses with detailed receipts and proper bookkeeping records.

Find out more here and follow these expert tips for keeping the IRS happy. https://buff.ly/3BWRXKk

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Is Your Medical Practice Short-Staffed? This Automation Tip Can Help!

Is Your Medical Practice Short-Staffed? This Automation Tip Can Help!

Is Your Medical Practice Short-Staffed? This Automation Tip Can Help! Like many businesses, medical practices throughout the greater Houston area are struggling mightily to attract and retain employees for their front offices.

Responsibilities of a Liable Employer — Texas Workforce Commission

A liable employer is an employer required by law to participate in the Texas state unemployment tax program. Liable employers must report employee wages and pay the unemployment tax based on the Texas Unemployment Tax Act

Responsibilities of a Liable Employer — Texas Workforce Commission What are the responsibilities of a liable employer.

An Overview of Social Security Taxes: Who Pays What?

Social Security Taxes—Who Pays What and How Much?
Some of your earnings might be exempt from this tax: https://buff.ly/2O9uO4t

An Overview of Social Security Taxes: Who Pays What? The Social Security Administration updated the maximum wage base for 2021 to $142,800. You'll only pay the tax on income under this threshold.

The IRS Criminally Prosecutes Another Employer For Failure To Pay Withheld

The IRS Criminally Prosecutes Another Employer For Failure To Pay Withheld - business owner was sentenced to 42 months in prison.

The IRS Criminally Prosecutes Another Employer For Failure To Pay Withheld The IRS Criminally Prosecutes Another Employer For Failure To Pay Withheld - Read the Taxation legal blogs that have been posted by Ronald A. Marini, Esq. on Lawyers.com

Payroll Taxes - Trust Fund Recovery Penalty Abatement

The penalties for failing to timely file and failing to fully pay the payroll taxes results in enormous penalties to the employer.

Payroll Taxes - Trust Fund Recovery Penalty Abatement Are you personally facing a trust fund recovery penalty for a business failing to pay payroll taxes? The Tax Lawyer may be able to attain abatement for you.

The Medicare Tax: How Much Will You Have to Pay?

The Basics of the 3 Medicare Taxes

The Medicare Tax: How Much Will You Have to Pay? The Medicare tax remains at 2.9% on all wages and self-employment income as of 2019, but two more Medicare taxes can affect higher earners.

The IRS is Now Criminally Prosecuting Employers for Failure to Pay Withheld Payroll Taxes!

The IRS is Now Criminally Prosecuting Employers for Failure to Pay Withheld Payroll Taxes!

The IRS is Now Criminally Prosecuting Employers for Failure to Pay Withheld Payroll Taxes! The IRS is stepping up criminally prosecuting business owners for failing to turn over withheld payroll taxes! In the last week there ...

Handling Payroll Taxes for a Medical, Dental, or Vision Practice?

Handling Payroll Taxes for a Medical, Dental, or Vision Practice?
Here’s What You Need to Know.

Handling Payroll Taxes for a Medical, Dental, or Vision Practice? Handling Payroll Taxes for a Medical, Dental, or Vision Practice?

TWC Postpones Setting 2021 Employer Tax Rates | Texas Workforce Commission

TWC Postpones Setting 2021 Employer Tax Rates until July

TWC Postpones Setting 2021 Employer Tax Rates | Texas Workforce Commission AUSTIN – The Texas Workforce Commission (TWC) today delayed the setting of the employer’s unemployment insurance tax rates to allow for more time for ongoing legislative efforts and the continuing economic recovery to play out. This week, Governor Greg Abbott suspended a section of the Texas Lab...