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.
Attention: All DCs Insured By CARE
A message for all policyholders from the Florida Department of Insurance -- Fraud Division:
"An individual named William A. Rose through an association by the name of CARE, Chiropractic Association for Research & Education, is marketing medical malpractice "insurance" to chiropractors in Florida and other states. The insurance was first provided by a company called Professional Indemnity Corporation and now by a company called Insurance Company of Great Britain.
"Neither of these companies are licensed to transact insurance in any of the 50 states.
"If anyone in any state has purchased insurance from CARE and has an unpaid claim or pending claim, please contact Gail Conneil at the Florida Department of Insurance/Fraud Division in Tallahassee at (904) 922-3115, ext. 4037 or by fax to (904) 488-2632."