Are Your Employees Classified & Paid Properly?

Are Your Employees Classified & Paid Properly?

Have you ever been a little unsure as to the classification of your employees as being exempt from overtime compensation, or being eligible for overtime compensation - which is called being “nonexempt”? This issue causes a tremendous amount of confusion for many employers, which can lead to major headaches, and oftentimes, monetary awards for back wages that are determined to be due by the Department of Labor (DOL). Wage and Hour Investigations by the DOL have been increasing in recent years and actually set an all-time record in 2016. This area has seen aggressive scrutiny and focus by the DOL in recent years. Wage and hour cases are the most active types of litigation in the field of employment law. The year-to-year increases have become a pattern since 2000, going up by more than 450% since that time. Every employer must follow wage and hour laws to the fullest. There is no room for shortcut or a lax approach when dealing with employment laws. So, what is the major mistake that many employers make that is getting them into hot water? There are actually two major mistakes and one of them revolves around misclassifying employees and how they have to be compensated. We will talk about that one in this article and then cover the other in our next newsletter. ......
How to Protect From and Detect Embezzlement in Your Dental Practice

How to Protect From and Detect Embezzlement in Your Dental Practice

You practice dentistry because you enjoy helping patients. At the same time, you went into business to make a profit. What happens when you discover that a trusted employee is stealing your profits? Think it cannot happen to you? Think again…no one is immune! In this article you will learn to recognize the profiles and modus operandi of embezzlers, safeguards you can implement to protect your practice from being an easy target, as well as what to do if you discover that you are a victim of embezzlement. ......
What’s Missing in a Dental CPA

What’s Missing in a Dental CPA

Having a good advisor by your side as a business owner is extremely important. It can not only increase the profitability of the practice but can also help eliminate bad decisions and reduce the headaches of business ownership.

Range of Support

Do It Yourself

In an attempt to reduce overhead cost some practice owners attempt to keep their own books. Whether they purchase a check writing software or keep manual records, they simply hand off their records at the ......

What You Thought About Overhead Expenses is Wrong

What You Thought About Overhead Expenses is Wrong

As a dental practice owner, recognizing the specific costs of operation is a critical part of keeping the business running. Dental office overhead breakdown information can provide some insight into this. When you understand what you are paying, and where those costs come from, you can make better decisions about managing your practice.

What Are the Average Expenses of Dentists?

Every business has costs of operation. A dental office has them as well. They are the costs of keeping your ......

5 Mistakes Dentists Make to Fall Behind the Competition

5 Mistakes Dentists Make to Fall Behind the Competition

What makes a dental practice successful? It could be having a large number of patients who are satisfied with the service provided. It may be meeting specific financial goals. A successful dental practice typically has engaged employees, those that provide exceptional care to patients and meet all compliance requirements.

One of the most important ways to look at the success of a dental practice is to consider the competition. What factors can cause a company to fall behind the other ......

7 Things Wildly Successful People Do Before 7:30 A.M.

7 Things Wildly Successful People Do Before 7:30 A.M.

There are people from all walks of life whom we consider to be successful in whatever way we personally may define success. When you study these individuals and how they manage their lives, many times you’ll find interesting things they do that set them apart from others. First of all, their confidence in the face of hardships is driven by their ability to let go of the negativity that holds so many individuals back from being successful. It seems that successful individuals are those who in many ways thrive on facing obstacles and how they overcome them. Their mantra in life could be summed of with “Obstacles do not block the path; they are the path.” This perspective helps successful people think differently from most everyone else. This unique way of thinking is important because, if you think like everyone else, no matter how smart or talented you are, you will hit the same “ceiling.” By thinking outside the box and being different (going against the grain), successful people are on track to rise above their limitations. So let’s take a look at some of the ways that successful people go against the grain. ......
10 “Golden Rules” of Communication for Teams

10 “Golden Rules” of Communication for Teams

The older I get, the more I realize that almost all progress in life is not accomplished by individuals but by teams. We hear about the achievements of business superstars such as Elon Musk, Jeff Bezos, and Mark Zuckerberg on an ongoing basis. What we don’t hear about is that the achievement of these individuals is due primarily to their respective teams. These are the groups of individuals who work in concert with each other to see visions, ideas, and projects through to completion for miraculous results. Of course, someone had to dream and communicate the vision of what in their own mind was possible. This is where much credit can be given to Musk, Bezos, and Zuckerberg. The ability to lead teams and draw out the best in teams is a tremendous talent to have. Additionally, the ability to effectively facilitate communication within a team can quickly identify someone as a superstar leader. This team could be as diverse as a church group, a volunteer community organization, or a committee/task force within a corporate setting. Regardless of what type of team we may be a part of, we know that effective communication is essential. Without it, the team’s goals could be misunderstood, its efforts uncoordinated, and eventually ineffective communication could lead to extreme frustration with little to no hope of achieving the desired cohesive final result. We all know that communication is a good thing. However, when we are working with a group of people—rather than in a one-on-one setting—there are unique challenges and strategies to consider. ......
Identity Theft: the New Targets! Protect Your Practice, Patients, and Family

Identity Theft: the New Targets! Protect Your Practice, Patients, and Family

Every minute about 19 people fall victim to identity theft. The Federal Trade Commission reported in 2015 that identity theft has been the #1 reported crime for 15 years in a row. It continues to be the fastest growing crime in America. Whether using somebody's social security number to open new accounts or illegally hacking into a bank account, all forms of identity theft can be serious and have different outcomes. Identity theft is not a new problem, but because so much of our personal information is stored electronically these days, this crime is happening more often, especially to children. Currently, the fastest growing segment of victims is children. Today, identity theft encompasses more than credit cards and financial accounts. Tax identity theft claims more victims each year. Medical identity theft is another serious and growing problem – for both the patient and the providers. Whether your personal, financial, medical, tax, or child’s information has been stolen, correcting the problem is costly, time-consuming, and stressful. ......
Don’t Sweat the Small Stuff!

Don’t Sweat the Small Stuff!

The older I get the more I think about all the “small stuff I have sweated” about over the years. These are the things that at one time seemed to be tremendously important and major priorities for me. At particular times of my life, some of these things actually were priorities. However, when looking back over the years (hindsight is always 20/20), I now realize that those “old” priorities turned out not meaning a thing in terms of their lifetime value to me or to others. In essence they were only insignificant, inconsequential things (small stuff) that I unnecessarily worried about at the time. I recently read a fantastic book by Richard Carlson, Ph.D. called Don’t Sweat the Small Stuff for Men. This book identified fifty-two simple things that we can do to minimize stress in today’s mega-busy, tech-driven environment. A side note here is that Dr. Carlson has authored several “Don’t Sweat the Small Stuff” books that have become bestsellers. For today’s blog, we won’t have time to talk about all fifty-two things Dr. Carlson identifies. We will cover just a few of the most significant “takeaways” that I feel are most applicable to each of us: ......