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.
Thomas Michaud, DC
Dr. Thomas Michaud is the author of Human Locomotion: The Conservative Management of Gait-Related Disorders, the content of which forms the basis for this and subsequent articles. All illustrations in this article appear in the book and are reproduced with permission. Dr. Michaud is a 1982 graduate of Western States Chiropractic College and practices in Newton, Mass., where he has treated thousands of recreational and elite runners. His first textbook, Foot Orthoses and Other Forms of Conservative Foot Care (published in 1993), was eventually translated into four languages and is used in physical therapy, chiropractic, pedorthic and podiatry schools worldwide.