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.
South Dakota Chiropractor Still in the Race
Scott Munsterman, DC, remains in the running for a state seat, albeit not the one for which he originally campaigned. Dr. Munsterman, who finished a distant second to Lt. Gov. Dennis Daugaard in the South Dakota Republican gubernatorial primary on June 8, is now the District 7 candidate for the state House of Representatives. The South Dakota Republican Party selected him as its candidate to fill the seat occupied by outgoing District 7 Rep. Carol Pitts.
We interviewed Dr. Munsterman just prior to the gubernatorial primary. Read "Ready to Impact Health Care From the Inside" (May 20 issue) to learn about his political platform and thoughts on how the profession can play an ever-increasing role in health care delivery.