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.
Oregon: Compensation or Retribution?
As the issues revolving around chiropractic's role in the Oregon Workers' Compensation controversy heated up, "DC" sought to gain a clearer perspective of the events which have led to the recent drastic reforms in the state of Oregon's Workers' Compensation laws.
Shedding perhaps a little more light on the subject -- in this issue of DC are four exclusive interviews with individuals whose involvement and perspectives were formulated through both chiropractic and legislative points of view. We present the reflections and comments of Richard Tilden, president of the Chiropractic Society of Oregon; Mr. Kevin Mannix, attorney and legislative state representative; Dr. Arn Strasser, a DC who has been practicing in Oregon since 1977; and Mr. Chuck Bennett, lobbyist for Oregon Chiropractic Physicians Association.
Reading the interviews, one fact is crystal clear -- chiropractic must demonstrate to government and third-party payors an ability to police itself. Or, with absolute certainty that one can take to the bank, like mandates will be invoked across the nation as unethical and abusive practices are no longer going to be tolerated.
Ask not for whom the bell tolls ...