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.
"Community Care" for Vets: It's Really a Big Deal!
As a preamble, while I regrettably never served in the military, I have the highest respect for those who did and those who currently serve. In fact, on many occasions since 9/11, I have looked somewhat goofy sprinting down an airport terminal to thank a veteran wearing a military service cap, or a man or woman in uniform.1
Having said that, on June 7, 2018, I was delighted to watch on television as President Trump signed the "VA Mission Act" into law. My good friend and strong chiropractic / veterans supporter, Kansas Senator Jerry Moran, stood behind him, and the president turned around to shake his hand in congratulations for his work on the bill.
Community Care for Vets
After the bill became law with the president's signature, I decided to research it and see exactly what it will do. Without getting into all of the details, here is the thumbnail sketch of why this new "community care" law is so important to veterans ... and doctors of chiropractic.
The new law states on page 1 (with italicized emphasis included in the statute), "This section requires access to community care if VA does not offer the care or services the veteran requires." As a result, veterans will have the ability to access private practitioners if the VA does not offer the treatment or service that is needed. The way I see it, that means if the patient needs a treatment or service not offered by the VA (such as laser therapy, decompression therapy, etc.), the vet can access a private "community care" health provider – like yourself – to obtain those needed services and be reimbursed for them.
How Else Can a Veteran Access Community Care?
Dovetailing With the Opioid Crisis If that was not enough, the new law references the opioid crisis seven times; yes, the crisis killing 175 Americans every day and about which I have twice written columns.2-3 If that doesn't make this new law a win for veterans, a win for the chiropractic profession by being reimbursed for VA services, and a win for veterans who can choose safe and effective chiropractic care instead of opioids, I don't know what does. That Was Then, This Is Now It was my greatest honor to serve as ACA chairman in 2003 when the 107th Congress authorized chiropractic care for our veterans; and then watch the law being implemented by attending every meeting of the two Veterans Administration Chiropractic Advisory Committees.4-5 But this new expansion for veterans is also a big deal because in many cases, it will offer veterans the opportunity to choose the "community care" doctor they want to see and receive the type of treatment recommended by that doctor! References
August 2018
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Jamy Antoine, DC, BCN
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Part 2 of this three-part article on recogizing and diagnosing delayed-onset motor-vehicle acident (MVA) injuries in clinical practice discusses traumatic Schmorl's nodes, post-concussion syndrome and posttraummatic syrinx. Part 1 covered traumatic subdural hematoma, stroke due to MVA and traumatic central disc herniation. | Digital Exclusive
Troy Freiheit, DC
Research now shows that limited hip internal rotation can significantly contribute to low back pain. This may be caused by hip joint variants, but more commonly by trauma causing adhesion of the hip joint capsule or even prolonged sitting, which overactivates the hip flexors and abductors, and underactivates the hip extensors and adductors.
Charles Annunziata, DC, CFMP
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