The 3 Biggest Expenses Of Selling Your Dental Practice
Finances are the biggest concern of dentists looking to sell their
practices. There will obviously be costs involved with selling your
dental practice and it’s important to understand these costs in order to
keep more of your hard-earned money in your wallet!
Below are the three largest expenses that you can expect to incur during the sale of your dental practice:
- Attorney Fees
When selling your dental
practice, it’s incredibly important to have a competent and experienced
attorney. Be sure that your attorney has experience with the sale of
dental practices and is knowledgeable in the issues involved with this
There will obviously be numerous factors that will
decide the final cost of your attorney, but make sure you find out your
attorney’s hourly rate, just to be able to make an educated estimate of
the final cost.
- CPA Fees
For the same reason you should get an
attorney with knowledge of dental practices and the costs they incur,
you should make sure you hire a CPA with dental experience. Some CPAs
specialize in advising dentists and can save you thousands of dollars by
reducing your tax burden.
- Broker Fees
Dental brokers will be the priciest
expense for sellers, which means that this avenue should be the one
that you spend the most time deciding upon. It’s crucial that you select
a broker who understands the business side of the dental profession.
Your broker will be able to help you understand what parts of your
practice are the most valuable and can help you choose a buyer who will
assist in making your transition a successful one.
If you’re considering selling your dental practice, please contact
CTC Associates. We work with many professionals who are competent and
knowledgeable in the dental profession and we can help make your
transition a smooth one.