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.
Nat'l Board Joins Legal Battle, Donates $50,000 to HCFA Lawsuit
Since the announcement last November of the American Chiropractic Association's lawsuit against the Health Care Financing Administration (HCFA) for its Medicare managed care plan that allows MDs, DOs and PTs DOs and PTs to perform spinal manipulation in place of chiropractors, donations of all sizes have been received in support of the legal battle.
In our last issue, we announced the $50,000 contribution from the Association of Chiropractic Colleges to support the lawsuit. The National Board of Chiropractic Examiners (NBCE) has now decided to join the fight. The NBCE announced that it will also donate $50,000 to help fund the lawsuit.
"The board of directors wholeheartedly supports the effort," said NBCE President Paul Tullio,DC.
"We hope that NBCE's significant contribution will serve to underscore the necessity of this lawsuit and rally the profession," observed ACA President Michael Pedigo,DC. Dr. Pedigo said he was encouraged by the support from the many segments of the chiropractic profession.
For those individual chiropractors and chiropractic organizations that want to contribute to the ACA's lawsuit against HCFA, donations can be sent to:
Legal Action Fund/HCFA Lawsuit
P.O. Box 75359
Baltimore, MD 21275
For more information, contact the ACA at (800) 986-4636.