Think dentistry automatically equals easy money? We pull back the curtain on the financial reality most owners face: heavy student loans, acquisition debt, rising payroll, and taxes on income that often goes straight to repayments. Stephen Nance, a CPA who started his career auditing on the state side, joins us to explain how those early “painful but correct” tax adjustments inspired a new mission—pair meticulous compliance with advanced planning so dentists stop overpaying and start making confident, timely moves.
We talk through the difference between bookkeeping, tax filing, and true strategy—and why that gap can mean six figures. Steve breaks down the playbook: proactive projections with built-in buffers, entity design that manages self-employment exposure, accountable plans, optimized retirement structures, and specialized tools like charitable leverage, oil and gas investments, and captive insurance where the risk profile fits. The theme is timing. If you wait until filing, most levers are gone; when you plan in-season, your effective rate drops and your cash position strengthens.
If you’re headed for a sale or recap, the stakes multiply. Steve shares a jaw-dropping case: a projected $1.8 million tax bill reduced to about $215,000 through careful sequencing and qualifying strategies. Not every situation will swing that far, but the principle stands—selling a practice is trading future profits for a one-time payout, and every dollar saved extends your runway for retirement, growth, or giving. We also cover a deal killer too few owners consider: delayed, messy books. Transactions require clean financials on demand; when your CPA lags, deals stall and valuations suffer. The antidote is a team that keeps monthly books current and anticipates diligence before it’s urgent.
If you’re a dentist running one to ten locations and grossing north of $2M, this conversation will help you see where you’re leaving money on the table and how to reclaim it with a clear, date-driven plan. Enjoy the insights, then subscribe, share this episode with a colleague who’s prepping for a sale, and leave a review with your top tax question—we’ll tackle it on a future show.