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.
VA Expansion Bill Making Progress
As of press time, legislation has been approved by the Senate that would expand chiropractic services within the Veterans Administration by requiring the chiropractic benefit be provided "at not fewer than two medical centers or clinics in each Veterans Integrated Service Network by not later than two years after the date of the enactment" and at 50 percent or more of VISN medical centers no later than three years after enactment.
The requirements are stipulated in Section 102 – "Expansion of Provision of Chiropractic Care and Services to Veterans" – of S. 1203, under review by multiple House committees as of early December 2015. To track the bill's progress, click here.
As of press time, legislation has been approved by the Senate that would expand chiropractic services within the Veterans Administration by requiring the chiropractic benefit be provided "at not fewer than two medical centers or clinics in each Veterans Integrated Service Network by not later than two years after the date of the enactment" and at 50 percent or more of VISN medical centers no later than three years after enactment.
The requirements are stipulated in Section 102 – "Expansion of Provision of Chiropractic Care and Services to Veterans" – of S. 1203, under review by multiple House committees as of early December 2015. To track the bill's progress, visit www.congress.gov and enter the bill number in the search field.