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.
In Remembrance: Dr. Karl W. Parker
Dr. W. Karl Parker passed away on Christmas night at the age of 68 following an 18-month battle with cancer. He died peacefully, surrounded by family.
A 1969 graduate of Texas Chiropractic College, Parker served as executive vice president of the Parker Chiropractic Resource Foundation, conducting seminars with his father Dr. Jim Parker, including the 300th Parker Seminar (1989), which boasted a record 8,300 attendees. After his father's death, Karl began Karl Parker Seminars, continuing his father's legacy of teaching DCs how to more effectively run their practices.
He is survived by a wife, four children and six grandchildren, among others.