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.
Preying on the Elderly?
While the number of spine surgeries has been on the increase, this is especially true for those 65 years and older. Consider the trend for low back surgery between 1979 and 1992:
Number of Low Back Surgeries per 100,000
1979 | 1992 | |
Adults Under 65 | 113 | 152 |
Adults 65 +Over | 51 | 188 |
SOURCE: Ciol MA, Deyo RA, Howell E, Kreif S. An assessment of surgery for spinal stenosis: the trends, geographic variations, complications, and reoperations. J Am Geriatr Soc 44:285-290, 1996.