Buy Now, Save Later
Practice owners who purchase pricy equipment and place it in service by year’s end could qualify for a Section 179 deduction.
For many veterinary practice owners, 2021 has been a highly profitable year, given the rising pet population and greater demand for veterinary services. However, with increased revenue and higher profits comes the potential of a hefty tax bill, especially if you haven’t done any financial planning. One strategy for lowering what you pay the government […]
Overwhelmed? Learn to Delegate
Improve your work-life balance by empowering veterinary team members and helping each person to learn and grow.
Owning a veterinary practice can be overwhelming if you act like you’re the only employee and think you have to do everything. Empowering your team not only will free up your time and reduce your stress but also boost your employees’ confidence and make them feel more fulfilled professionally. When you delegate tasks, team members […]
How the government is helping practice owners
A paycheck protection loan and an economic injury grant are two of several business-friendly programs available to veterinarians.
Veterinary practices nationwide have suffered financially during the COVID-19 pandemic. Here are some of the best programs available that can help keep your hospital afloat and your employees employed. Paycheck Protection Program (PPP) This U.S. Small Business Administration program helps cover the cost of retaining employees. If revenue has declined, you might have cut staff […]
The Families First Coronavirus Response Act and you
Paid sick leave is an employee right, but veterinary practices can take advantage of new payroll tax credits.
Approved by Congress on March 18, the Families First Coronavirus Response Act consists of two parts of particular interest to employers and employees: Emergency Paid Sick Leave Act Emergency Family and Medical Leave Expansion Act Under the provisions, small and midsize employers can take advantage of two new refundable payroll tax credits from April 1 […]
Automation gets the job done
You don’t have to do everything as a practice owner. From bookkeeping to budgeting, technology will save you time and money.
I was listening to the dreams of a soon-to-be owner of a one-doctor veterinary clinic. The young gentleman was truly excited, and he was inspired to implement trendy solutions to change the old practice. His ideas were bold but humble in timing. One step at a time was his motto — renovate an abandoned building, […]
Employ a strategy to build a happy team
Placing people in the wrong jobs, not properly training them and failing to motivate them are correctable management errors.
Fifty-two percent of U.S. employees plan to look for a new job in 2019, according to the digital marketing firm Adtaxi. Of those who take part in the hunt, 54% landed their current job less than a year before. Why do team members leave your veterinary practice, and how can you get them to stay? […]