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.
We Get Letters & E-Mail
"Wrongly Accused"
Dear Editor:
As a consultant on the same project as Dr. Triano, with the same proposed rule, I too have been wrongly accused of teaching MDs to manipulate. (Editor's note: See "A Public Apology to John Triano, DC, MA" in "We Get Letters" DC, 9-22.) I heard some secondhand talk of my being a traitor, and saw my name derogatorily attached to the project in a chiropractic newspaper. I remain glad that I did not receive any death threats.
I would simply like to reinforce that there was no planned or actual DC teaching of MDs in this project, nor is there likely to be any. Our role was supposed to be simply one of consulting; in reality, there has not even been significant DC consultation in any phase of the project, including planning, execution or analysis.
Geoffrey Bove, DC, PhD
Associate Professor, Odense University
Odense, Denmark
gbove@imbmed.ou.dk