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Medical Practices

We work with practices of all sizes and specialties from sole practitioners to large medical groups to address the tax and financial needs specific to physicians. We are with you all the way - from your first day at work, to buying or starting a practice, to planning an exit strategy.  Woodcock & Associates medical practice services are designed to simplify the accounting process so that you can focus on the patient. Our medical practice services include:

Assurance
Tax return preparation and tax planning
CFO on call services

Practice Management

  • Tax
    • Reduction and deferral of tax
    • Accounting method optimization
    • Estimated tax payment optimization
    • Balancing of corporate and individual strategies
  • Financial Management
    • Trend Analysis and Benchmarking
    • Entity selection (sole proprietor, LLC, S Corp, C Corp)
    • Cash flow analysis
    • Budgeting and Projections
    • Group specific compensation formula calculation/reconciliation
    • Practice startup consultation
    • Overhead Analysis
    • Practice Transition-sale, merger, acquisition, partnership
  • Property and Equipment Management
    • Real estate sale or purchase
    • Depreciation strategies
    • Rent vs. own analysis
  • Accounting Systems
    • System design and monitoring
    • Software assessment 
    • Internal control assessment
    • Quickbooks optimization and support
  • Debt Analysis and Negotiation

For more information, contact our medical team.