MLR

Category: Healthcare

Accounting for Business

Welcome to our Resources section, where you will find articles pertaining to accounting for business, business financial planning, financial advice, and the industries of our clients.
This section is a great source of information, but please contact us if you feel you need professional financial advice. Maxwell Locke & Ritter is here to offer trusted guidance.

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If a partner decides to leave a medical practice, it’s important to have a tax allocation approach in place and ready to be implemented. In nearly all cases, there are three different methods you can use. Of course, before making any concrete decisions about the best method for your situation, it’s always wise to speak with a certified accountant so you can be sure you’re making the right choice.

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It takes years to build up a successful medical practice that is respected and valued by the community.

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If you operate your medical practice as a C corporation, you may be required to conduct an annual corporate meeting and keep minutes of the proceedings.

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When unused flexible spending account (FSA) balances are forfeited back to employers under the “use-it-or-lose-it” rule, employers have several options for what they can do with the money.

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When it’s time to negotiate or renegotiate a physician’s employment contract, there are critical issues that must be understood and settled.

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Unfortunately, many physician partnerships compare more to a boxing match than, well, a partnership.

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Payments made by a medical practice to buy out a retiring partner’s entire ownership interest are generally subject to self-employment tax. Careful planning can change that.

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Running a business these days is increasingly complex. With employment-related claims and lawsuits on the rise, management must have a basic understanding of numerous federal, state and local laws. Here are three cases that illustrate some employer liability trends.

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Medical malpractice insurance isn’t just a requirement — it’s also a major practice expense. Selecting the terms of coverage is a complex, critical task, as is evaluating insurance carriers.

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The cost of medical malpractice continues to rise, according to the Aon/American Society for Healthcare Risk Management (ASHRM) Hospital and Physician Professional Liability 2013 Benchmark Analysis. This annual study helps health care providers better understand trends related to medical malpractice risks. It also provides benchmarks for hospitals and physicians to compare to their own claims histories.