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.
News in Brief
Oregon Gov. John Kitzhaber (a medical doctor, no less) proclaimed October 2014 "Oregon Chiropractic Health and Wellness Month" in an official proclamation signed Aug. 25, 2014. The proclamation noted the following, all of which should be encouraging to DCs nationwide:
- "Oregon and our nation have a growing health care crisis, the cost of which is having a profound impact on our state and national budgets."
- "The State of Oregon has a goal to produce healthy citizens rather than simply financing and delivering health care."
- "The State of Oregon Evidence-based Low Back Pain Management Guidelines recommend spinal manipulation as the only drug-free treatment for acute, subacute, and chronic low back pain."
- "Oregon's 1,500 licensed Doctors of Chiropractic are primary care providers specializing in spinal manipulation, but also on health promotion and wellness."
- "Services of Doctors of Chiropractic result in improved health, satisfaction, safety and reduced per capita costs."
You can learn more about Gov. Kitzhaber, who's up for re-election this November – for a historic fourth term – by clicking here.