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.
Chiropractor's Widow Donates $2 Million to Palmer History
The history of chiropractic is fascinating, but preserving our past, like so many other aspects of life, takes commitments of time, energy and money.
In August, Mrs. Joyce Walters announced the creation of a $2 million endowment to Palmer College of Chiropractic to support the historical objectives of the college. The permanent endowment was established by Mrs. Walters as a memorial to her late husband Dr. S. George Walters, a 1918 Palmer graduate. Dr. Walters operated a successful practice in St. Louis for many years and was a close personal friend of David D. Palmer, the school's president from 1961 to 1978.
"We are delighted with this support and hope it is the start of many such gifts to help us preserve our history," enthused Alana Callender, director of the Palmer Foundation for Chiropractic History.
Darrell Slabaugh, Palmer's director of development, said the endowment could help in such endeavors as preserving artifacts and exhibits, research and documentation, public education, acquisition of collections, and the repair and maintenance of the B.J. Palmer mansion and chiropractic museum.