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.
Military's Chiropractic Demonstration Project Underway
The three-year Chiropractic Health Care Demonstration project, created by the 1995 National Defense Authorization Act, is in full swing at 10 military treatment facilities. Three other military sites not offering chiropractic are being used to compare outcomes. Chiropractic care is being put to the test for treatment and cost effectiveness.
Active duty members, active duty family members, retired members, and retired family members participating in the demonstration project go through a screening process to determine if their conditions are neuromusculoskeletal. It they are, they have the option of receiving chiropractic or traditional medical care. Patients under 17 and those who are pregnant are excluded from receiving chiropractic.