Health Care

CPA for Health Care

Whether you’re a long-term health care provider, part of a medical group, or own a professional service practice, you can often face massive changes in the healthcare industry. The recent health care reform passed by Congress is complicated and burdensome for most business owners. Learn more about CPA healthcare and how we can help you navigate your finances.

What Are Healthcare CPA Firms?

It’s not enough that your accountant knows the same accounting principles that have worked in the past. Finding a CPA that specializes in health care is essential to today’s healthcare professionals. At Wallace Neumann & Verville, LLP, we understand the challenges that doctors, dentists, physicians, and business owners are facing.

We stay on top of the ever-changing rules and regulations put forth by Congress regarding healthcare reform.

Whether it changes as to how Medicare subsidies are taxed, the rise in payroll taxes for top wage earners, or newly provided health care insurance coverage to a business owner’s employees, the CPAs at Wallace Neumann & Verville, LLP stay up to date with the current laws.

With years of experience, Wallace Neumann & Verville, LLP has a reputation for understanding and solving complex accounting situations in the healthcare field. Not only do you need a good CPA, you need a tax planner who is an investment in your business.

CPA Healthcare Services

Entity Selection

There are many different entity vehicles for health care providers. Selecting the right entity to protect you is crucial. Whether you are a small medical practice business owner, a traveling physician that works for multiple hospitals, or a part owner of a medical group, it is essential to set up the correct entity structure. Wallace Neumann & Verville, LLP has experience with tax efficient formation structures for health care providers.

Retirement Planning

In this day and age, planning for your retirement is essential. Having the right CPA to provide you the right options for your business is critical, whether it’s contributing to a tax-deferred retirement account, understanding the differences between Roth IRAs vs. Self-Employed Pension IRAs, or setting up a self-directed retirement account. Wallace Neumann & Verville, LLP specializes in retirement planning for physicians, dentists, and medical groups.

Reasonable Salary

A big IRS audit issue is whether the compensation that a professional service corporation (such as a single dentist or doctor) is awarding its key executives is reasonable. Many physicians are exposed to potential IRS audit risk by not paying a reasonable salary. Wallace Neumann & Verville, LLP has experience in this area. Unfortunately, there is no bright line test to determine reasonable compensation. However, the IRS compares similar types of physicians’ salaries to determine reasonable compensation.

Additional Tax Planning

Other tax planning issues that deal with the day-to-day operations of a business such as real estate purchasing, equipment protection and substantiating automobile deductions are also important. Is it better to buy commercial office building or rent a space? How do you protect your assets, namely, your equipment? Is it better to purchase them or lease them? Are you allowed to deduct your automobile for your business?

Many medical professionals count on Wallace Neumann & Verville, LLP for consultations regarding these issues and effective tax planning.

Free No Obligation Consultation with Wallace, Neumann & Verville

At Wallace, Neumann & Verville, we are the top Las Vegas CPA for healthcare. We offer a free, no-obligation consultation so contact us today if you have any questions.


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