The Dental Boardroom

In this episode of The Dental Boardroom Podcast, Wes Reid, founder of a dental CPA and financial planning firm, dives deep into the Employee Retention Credit (ERC)what it was, how it worked, and the lingering tax implications that dentists still need to address in 2025. From qualification rules and tax amendments to why the IRS is still behind on guidance, Wes breaks it all down with clarity and real-world insight. If you're a dentist who claimed the ERC or are still navigating its aftermath, this is a must-listen.

Key Points Covered:

What the ERC is: A government stimulus program that provided financial relief to businesses during COVID closures, especially valuable to dental practices.

How eligibility was determined: Based on revenue drops and specific calendar quarters in 20202021.

Claiming the ERC: Typically filed retroactively through amended 941 payroll tax returns.

Why ERC resurfaced in 2025: The amendment window has closed, and many dentists are left wondering how to finalize tax treatment of ERC funds.

Tax implications explained: Receiving ERC impacts labor expenses, corporate profits, and personal tax returnsrequiring multiple amendments.

When to file amendments vs. report ERC on current returns: Wes explains how to navigate reporting ERC on 2024 or 2025 returns if amendments werent done in time.

IRS delays and confusion: Lack of consistent IRS guidance caused delays and headaches for dental CPAs and clients.

Important advice: Include the ERC in your current or next years tax return if you're too late to amend previous years.

#DentalBoardroomPodcast #DentalCPA #EmployeeRetentionCredit #ERCTax #DentalPracticeFinance #COVIDRelief #IRSUpdates #DentalTaxPlanning #PracticeOrbit #DentalBusinessTips #TaxAmendments

Selling a dental practice is one of the biggest financial decisions in a dentist’s life—and it’s easy to make costly mistakes. In this episode, Brian Hanks sits down with Wes Read, CPA and founder of PracticeCFO, to break down the top 5 most common mistakes dentists make when selling their practice. From bad timing to poor team assembly, Wes and Brian share the insights every seller needs to avoid leaving money (and sanity) on the table.

Key Points:

Why selling too late can hurt your practice value

The hidden danger of “just listing with your CPA”

What happens when your staff finds out too soon

Why selling to the first buyer is often a trap

How working without a strong team can sabotage your deal

#PracticeSale #SellYourPractice #DentalBroker #DentalCPA #DentalFinance #PracticeCFO

In this powerful episode of The Dental Boardroom Podcast, host Wes Reed, CPA and CFP of Practice CFO, sits down with the dynamic Stacy Farley—former corporate sales leader turned dental practice powerhouse. Stacy shares her remarkable journey from business and sales into the world of dentistry, specifically her transformational work in her father’s full arch dental practice.

Together, they explore what it really means to “sell” in dentistry, how to guide patients toward life-changing decisions, and why understanding the real value of treatment is critical for both practice growth and patient outcomes. With proven techniques, real-world stories, and actionable advice, this episode is a must-listen for any dentist ready to boost case acceptance and scale up with full arch treatments.

Key Points:

Stacy’s Background: From business and corporate sales (Jenny Craig/Nestlé) to transforming a leading dental practice.

Sales in Dentistry: Why "sales" isn't a dirty word—it's about guiding patients toward better health and confidence.

The 4 Core Benefits of Full Arch Dentistry:

Emotional Decision-Making: How patients often hit emotional tipping points before committing to treatment—and how to be ready.

Patient Communication Strategy: Asking the right questions and reframing value over price.

Sales Funnel Breakdown:

Unique Selling Propositions (USPs): Why standing out in a "full arch frenzy" market is crucial for private practices.

Actionable Tips for Dentists Getting Into Full Arch



#DentalPodcast #FullArchDentistry #CaseAcceptance #DentalSales #DentalMarketing #DentalPracticeGrowth #PatientCommunication #StacyFarley #PracticeCFO #DentalLeadership #PrivatePracticeSuccess #DentalBusiness #DentalBoardroom

Your credit score may not seem like a daily concern, but as a dentist, managing debt is an unavoidable reality. Whether it's student loans, a practice acquisition, or buying a home, your credit score can be the deciding factor in securing favorable loan terms. In this episode, we break down the essentials of credit scores, how they impact your financial future, and key strategies to improve and maintain a strong score. Learn why debt, when used correctly, can be a powerful tool for financial growth and how to leverage it wisely.

Key Points Covered:

✅ Why credit scores matter for dentists and practice owners

✅ The role of debt in wealth accumulation and financial leverage

✅ Common misconceptions about credit and debt management

✅ The five key factors that determine your credit score

✅ How to strategically use debt to build wealth and avoid financial pitfalls

✅ Why leveraging assets like a dental practice can create long-term financial success

✅ Practical steps to improve your credit score and increase lending opportunities

Resources & Links:

💡 Learn more about financial planning for dentists at PracticeCFO.com

💡 Check your credit score and track your financial health with AnnualCreditReport.com

#DentalFinance #CreditScore #DebtManagement #DentalPractice #FinancialFreedom #WealthBuilding #DentistLife #PracticeOwnership #SmartInvesting #FinancialPlanning

Summary:

In this episode of The Dental Boardroom Podcast, Wes Reed, CPA and Certified Financial Planner, dives into the critical importance of having an emergency reserve fund both personally and for your dental practice. Wes breaks down why cash reserves act as "sleep insurance," offering peace of mind during financial fluctuations. He shares insights on how much money to set aside, how to manage it wisely, and how to generate returns without risking your financial stability. Whether you're dealing with unexpected expenses, equipment failures, or seasonal slowdowns, this episode will help you create a solid financial safety net.

Key Points:

• Understanding the concept of an emergency reserve fund
• Why financial stress is common among dentists
• How much to keep in your business and personal reserves
• Managing fixed costs and navigating cash flow fluctuations
• Avoiding the debt cycle for unexpected expenses
• Using financial reports to identify cash flow patterns
• Psychological benefits of having a reserve fund
• Tips to earn a return on your reserve while maintaining liquidity

#DentalFinance #EmergencyFund #FinancialPlanning #DentalPracticeManagement #CFOAdvice #BusinessFinance #CashFlowManagement #DentistLife #SmartMoney #DentalCPA #FinancialFreedom #BusinessPlanning #MoneyManagement #DentalPodcast