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.
Kids Do Use Chiropractic
A Canadian study discovered that 11% of children utilize some form of "alternative medicine." This is the type of alternative care they use:
Chiropractic | - | 36% |
Homeopathic | - | 25% |
Naturopathic | - | 11.5% |
Acupuncture | - | 11.5% |
Osteopathy | - | 9% |
Oligotherapy | - | 4% |
Others | - | 3% |
This survey was conducted in Quebec. What would a survey of your community show?
SOURCE: Spigelblatt L, Laine-Ammara G, Pless IB, Guyver A. The use of alternative medicine by children. Pediatrics 1994;94:811-814.