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.
ACA Weighs in on Nat'l Board Debate Statement from the American Chiropractic Association
The American Chiropractic Association has become aware of certain activities of the National Board of Chiropractic Examiners' (NBCE) Board of Directors that are of concern.
The problems first came to light publicly at the April 1999 NBCE annual meeting, during which several NBCE state delegates challenged the board's actions. Recently, Dynamic Chiropractic published an interview with NBCE President Dr. Paul Tullio. If the article is factual, the ACA, on behalf of its members, encourages NBCE state delegates to take appropriate corrective action.
The ACA believes a review of the following areas of concern could benefit the NBCE, the chiropractic profession as a whole, and most importantly, chiropractic students:
- Delegate authority to amend the bylaws
- Term limits
- Delegate committees
- Liaisons with chiropractic organizations
- Travel and entertainment expenses
- Electronic testing for parts I, II and III
- Reducing the cost of examinations
The ACA wishes to go on record that the quality and integrity of the NBCE examinations are not an issue. The examinations meet the highest standards of testing and satisfy the needs of the chiropractic profession as expressed by state licensing boards.
Editor's note: While the ACA's statement doesn't mention it, two of the most vocal NBCE delegates among the many delegates challenging the NBCE Board of Directors at last year's luncheon meeting were ACA Governor Dr. James Edwards and Alternate Delegate Dr. Vernon Temple.