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.
Chiropractic Action Team Jumps Into Action Again in Italy
As of June 2, the nonprofit Chiropractic Action Team (CAT) is in northern Italy providing pro-bono chiropractic services following the two earthquakes that occurred on May 20 and May 29, causing widespread damage and displacement. According to Jennifer Lovern, DC, DIBCN, CCSP, FASA, FICC, president of CAT, "We are currently serving 4 days a week with an average of 120-150 first responders each day. We are currently working with the leaders of the ECU to set up a field experience for chiropractic students from Paris's IFEC and England's AECC college in Bournemouth." Dr. Lovern added that CAT has a "memorandum of understanding" with the Italian Red Cross and National Fire Service, which she said allows the CAT to collaborate with both federal departments.
CAT, headquartered in San Diego with a European base office in Bologna, Italy, has initiated a fund-raising drive to continue the organization's relief project into the fall; you can donate either on the CAT Web site (www.chiroaction.org) or the nonprofit site Ammado.com (www.ammado.com/community/123579).
To learn more about the Chiropractic Action Team, read "The Chiropractic Action Team - Solidarity Through Peace," which appeared in the Sept. 9, 2010 issue and details the organization's inception in the wake of the L'Aquila, Italy earthquake in 2009.