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.
International Chiropractors Association Issues Statement On Referrals
The International Chiropractors Association's (ICA) Board of Directors has clearly stated the Association's position regarding chiropractors professional obligation to refer patients when the limits of their skill and authority are reached.
According to the ICA, the primary obligation of doctors of chiropractic is to give the finest care within their capabilities and within legal authority. It is also their obligation to recognize their limitations and at that point of recognition, doctors in all fields are ethically and morally bound to refer patients to practitioners in other fields of medicine in order to provide the best quality care.
Not only does the ICA stress the importance of referrals by chiropractors to other practitioners in the health care field, it also stresses the importance of accepting referrals from other health care providers to members of the chiropractic profession.
"The ICA has always recognized the importance of referrals when appropriate for superior patient care," said Ronald M. Hendrickson, ICA's executive vice president.