At Bench Accounting, we understand the unique bookkeeping needs of plastic surgeons. We'll regularly communicate with you providing updates on your financial status. Got urgent queries that need addressing? Count on us to respond within one business day or less.
Our platform enables you to automate data entries from major providers, eliminating common errors. We collaborate with key merchants such as Gusto, Stripe, Shopify, and Square, ensuring your financial records are always precise. Perfectly tailored for the plastic surgery industry, choose Bench Accounting for seamless bookkeeping solutions.
Wave farewell to mountains of medical billing and time-consuming financial management—we automate inputs directly from your linked accounts. Get detailed insights from one central dashboard to easily comprehend the financial health of your plastic surgery practice and make strategic decisions.
DR. BUKKY KOLAWOLE
As a plastic surgeon, there are several tax deductions that you should be aware of for your practice.
- Medical Equipment: The costs of medical equipment, supplies, and any improvements or repairs made to them can often be deducted.
- Professional Insurance: Malpractice insurance premiums are typically deductible.
- Continuing Education: Expenses for classes, seminars, and conferences that maintain or improve your professional skills may be deducted.
- Travel Expenses: If you travel for conferences, seminars, or other business purposes, these costs can often be deducted.
- Home Office Expenses: If you use a portion of your home for business-related activities, you may be able to deduct a portion of your housing expenses.
You're encouraged to work with a professional bookkeeper familiar with healthcare practices to ensure your books are in order and you're maximizing your possible tax deductions.
Accounting services can play a critical role in managing the financial aspects of your plastic surgery clinic. They can help track income and expenses, prepare annual tax returns, and provide regular financial reports to keep you updated on your clinic's financial health. With their professional expertise, they can also provide essential financial advice on areas like cost management, pricing strategies, and investment opportunities. Moreover, accountants can assist in payroll processing and ensuring you are in compliance with all relevant tax laws and regulations. By hiring a professional accounting service, you can focus more on your patient care while having the peace of mind that your financial affairs are in good hands.
For a plastic surgery practice, we would recommend using a cloud-based bookkeeping system. This type of system allows for real-time accuracy in financial records and easily integrates with various payment methods, including credit cards and insurance payments. Further, it provides enhanced data security and ability to access financial data anytime, anywhere, which is important for busy professionals in the healthcare industry.
Nope! All bookkeeping is completed in-house.
Your bookkeeper will be your main point of contact, but at times you might hear from another member of your team. This is usually when your bookkeeper goes on vacation, is sick, or otherwise unavailable.
We handle the bookkeeping for you but sometimes we’ll need your input, especially at year-end. On average, expect to spend 15 minutes each month answering questions for your bookkeeper, or uploading supporting docs.