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.
Your Chance to Be a CAM Researcher
The National Center for Complementary and Alternative Medicine has reissued its "Transitional Tools for Clinical Studies of CAM Interventions" funding opportunity announcement, "a request for applications that focuses on encouraging the development of improved research methodology (i.e., translational tools) to study safety, efficacy, and clinical effectiveness" of manual therapies, mind-body interventions and/or yoga therapy. The NCCAM will commit up to $6 million per year for eight grants. The application deadline is March 23, with an anticipated start date of December. To learn more, visit http://grants.nih.gov/grants/guide/rfa-files.