When it's time to fix-up, remodel or redecorate the building, clinic or offices that house your veterinary practice, you will want to keep out-of-pocket expenditures to a minimum and recover as much of the funds spent as quickly as possible. Fortunately, both those veterinarians who own their own buildings and those who lease their property can take advantage of a variety of tax deductions, credits and other tax breaks to achieve those goals.
I have an employee who regularly stays for overtime that I haven't authorized. My attorney says I have to pay her for the time, even though I didn't schedule it. What can I do to keep team members from working unapproved overtime?
Are you feeling the pinch of not enough revenue and too much expense? Don't wait until you hear crunching bones to make a move. There's no better time than now to start charming your practice to better financial health.
A growing business adds customers, expands inventory, buys equipment, and hires new staff. The future looks great on paper, but the additional expenses bring a cash crunch, particularly if collections are slow.
In the past year, I've learned that a little laziness and a lot of assuming can cost big bucks. First it was our radiology badges—I assumed we all paid about the same price for this service. But when an astute colleague asked about the going rate in our area, I learned I was paying four times more than some of my colleagues!