Sell Your Dental Practice in the Most Tax Efficient Way [Video]

From the ADA BIG Idea 2019: Transitions Conference

How is practice value determined? What can you do to increase the value of your practice? When should you start to think about transitioning your practice? What role will the IRS play in your practice transition?

Dental practices contain many different types of assets, both tangible and intangible and each asset being sold requires thought and planning. Accounting and tax rules must be adhered to when you sell your dental practice. In this set of recordings, which cover material presented at the ADA BIG Idea 2019: Transitions conference, Allen Schiff teaches you how to structure asset allocation to minimize taxes and maximize value when selling your dental practice.


Q&A session

Presenter information

Allen Schiff, C.P.A., C.F.E.
Allen Schiff is the managing member of Schiff & Associates, LLC (S&A). Prior to forming S&A, Mr. Schiff was a partner with Smart & Associates (formerly Grabush, Newman) for 30 years, and was their practice leader for dental practice management services. He has more than 40 years of experience in the areas of dental practice management. His services include business planning to include obtaining financing, succession planning, exit strategies and long-range planning. Mr. Schiff has assisted dentists with practice acquisitions, start-ups, operational analysis and associate contract analysis. For the last 32 years, he has taught dental practice management at a variety of dental schools across the U.S.

The ADA BIG Idea 2019: Transitions conference was held on Aug. 9, 2019, and focused on dental practice transition options and strategies. Two key topics for the conference included helping dentists identify the right time to start thinking about transition planning, and identifying factors that drive the value of a dental practice.