Being proactive vs. reactive with tax planning will have a tremendous impact on profitability and long-term wealth creation. Keep in mind, I am not a CPA and I am not giving tax advice. Rather, I’m passing on information that I learned as a practice owner and now implement in my financial planning practice. While not an exhaustive list, here are a few items to contemplate in 2025 as you watch the dollars in your practice.
Logan Receives $840,000 in Federal Grants
ST. LOUIS, MO - Two federal grants totaling $840,000 will benefit Logan College of Chiropractic's Learning Resource Center (LRC), technology development, and distance learning projects.
The U.S. Department of Housing and Urban Development - Economic Development Initiative (HUD-EDI) allocated $240,000; the U.S. Health Resources and Services Administration (HRSA) contributed $600,000. The LRC will receive $640,000 of the funding; the distance learning projects will get $200,000.
"We're delighted to have been selected as a grant recipient by two federal agencies," said Logan President George Goodman,DC,FICC. Dr. Goodman credited Missouri Senators Jean Carnahan (D), and Kit Bond (R) for assisting Logan with securing positive responses to its grant applications. "Senator Carnahan provided particularly helpful assistance with the HRSA grant, and Senator Bond with the HUD-EDI grant," explained Dr. Goodman.
Logan seeks to raise $3 million in funding (including the $640,000 allocation) to renovate the LRC's library and student computer lab.
The LRC houses more than 12,000 volumes, and 35,000 issues of more than 300 chiropractic, medical and scientific journals. The collection also includes thousands of radiological slides; case study files; videotaped lectures and anatomy dissections; and computerized learning software.
The layout for the 2,000 sq. ft. expansion of the LRC will be provided by Cannon Design, a St. Louis architectural firm.