The Dental Boardroom

PracticeCFO
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A place for dentists to find expert insight and information around everything from navigating residency and associate opportunities to being a successful dental practice owner.

  1. 140: Financial Mistakes - Retirement and Investments

    21H AGO

    140: Financial Mistakes - Retirement and Investments

    In this episode, Wes Reed continues his series on common financial mistakes dentists make, focusing on retirement planning and investing. He explains how poor decisions around 401 (k) plans, defined benefit plans, debt management, and private investments can significantly impact long-term financial success. Wes breaks down how the U.S. tax system works, why retirement accounts are powerful tax-saving tools, and how dentists can use smart financial strategies to accelerate their path toward financial independence. He also shares real-life examples of mistakes he has seen in his practice and offers practical advice to avoid them. This episode is designed to help dentists make informed decisions, protect their wealth, and build a sustainable financial future. Key Topics CoveredUnderstanding the importance of choosing the right 401(k) strategyHow progressive taxes impact high-income professionalsWhen to Consider a Defined Benefit (Cash Balance) PlanWhy paying off low-interest “good debt” too early can hurt growthRisks associated with private and non-transparent investmentsThe importance of diversification and due diligence Key TakeawaysUse 401(k) Plans Strategically: A well-structured 401(k) is one of the most effective ways for dentists to reduce taxes and build retirement savings. When implemented at the right time, it benefits both the owner and the team. Consider a Defined Benefit Plan in High-Income Years: For dentists with strong cash flow and high tax exposure, defined benefit plans can allow much larger, tax-deductible retirement contributions. However, they require professional management. Don’t Rush to Pay Off Good Debt: Low-interest, tax-deductible debt used for assets like a practice or home should not always be paid off early. Investing that money can often produce higher long-term returns. Be Careful with Private Investments: Many private deals lack transparency and liquidity. Dentists should avoid investing based on hype and always perform proper due diligence. Think Long-Term, Not Emotionally: Financial decisions should be based on data, strategy, and long-term goals—not fear, pressure, or short-term emotions. Tax Planning Is a Key Part of Wealth Building: Understanding how taxes work and using retirement accounts properly can save tens of thousands of dollars over time.

    45 min
  2. 139: Financial Mistakes - Tax Planning Gaps Part 2

    5D AGO

    139: Financial Mistakes - Tax Planning Gaps Part 2

    In this episode of The Dental Boardroom Podcast, host Wes Read continues his series on common financial mistakes dentists make, with a deep dive into tax planning gaps that often lead to paying unnecessary taxes. Wes explains how many dentists rely on reactive tax filing instead of proactive tax planning, causing them to miss powerful deductions and make poor timing decisions. He breaks down practical, real-world strategies such as the Pass-Through Entity (PTE) tax election; overlooked deductions like kids on payroll, home office, vehicles, meals, and travel; and why depreciation must always align with cash flow. The episode also highlights the risks of overly aggressive tax strategies, why meeting with your CPA only once a year isn’t enough, and how a CFO-style, proactive approach can significantly accelerate a dentist’s path to financial independence. Key Topics CoveredCommon tax planning mistakes dentists makeHow the Pass-Through Entity (PTE) tax election worksWhy the timing of tax payments mattersLow-hanging tax deductions many dentists missKids vs. spouse on payroll (and when it makes sense)Home office, car, meals, and travel deductionsRisks of aggressive tax strategies like misused R&D creditsProper vs. improper use of depreciation (Section 179)The difference between reactive CPAs and proactive, CFO-style planning Key TakeawaysPTE tax election is a major opportunity: Dentists in high-tax states can significantly reduce federal taxes if payments are made correctly and on time.Cash timing determines deductions: Tax deductions only apply in the year money actually leaves your account.Small deductions compound: When combined, kids on payroll, home office, vehicle use, meals, and travel can create meaningful tax savings.Spouse on payroll requires retirement planning: Without a 401(k) or defined benefit plan, it can increase taxes instead of reducing them.Depreciation isn’t free money: Misusing Section 179 can create future cash flow problems.Avoid crossing the line: Aggressive or poorly justified strategies increase audit risk.Tax planning follows cash flow planning: Taxes are a subset of cash flow—not the other way around.Proactive advice matters: Dentists benefit most from advisors who specialize in dentistry and meet multiple times per year.CFO-style planning accelerates wealth:...

    57 min
  3. 138: The Executive Session: What it takes to be a successful practice owner?

    JAN 20

    138: The Executive Session: What it takes to be a successful practice owner?

    In this episode of the Dental Boardroom Podcast, host Wes Reed introduces a brand-new subseries called The Executive Session. This interdisciplinary series brings together experts in finance, marketing, and practice management to discuss the real business challenges dental practice owners face today. Joined by co-hosts Megan Shelton (https://www.instagram.com/doctormeganshelton/ (Practice Management & Operations) and Michael from Wondrous Agency (instagram.com/wonderistagency/) (Dental Marketing), this kickoff episode explores how the definition of a “successful” dental practice has evolved over the last decade. The panel breaks down how marketing, operations, and financial strategy must work together to drive sustainable growth without burnout. From tracking real ROI in marketing to improving case acceptance and building systems that support both profitability and lifestyle, this episode sets the foundation for what modern dental leadership looks like. Key TakeawaysSuccess today is more than revenue A successful dental practice balances strong collections with profitability, lifestyle flexibility, and personal fulfillment. Top-line growth without bottom-line control is dangerous High revenue means nothing if margins are thin. Profitability and cash flow matter more than ever. Marketing must be measurable Website traffic and rankings don’t pay the bills new patients, collections, and ROI do. Integration with practice management software is critical. Operations make or break marketing Even the best marketing fails if front desk systems, case presentations, and patient experience aren’t aligned. Data visibility across the entire pipeline is essential From leads → appointments → case acceptance → collections, successful owners track every stage. Growth requires systems, not hustle Sustainable growth comes from leadership, team retention, clear communication, and predictable processes not longer hours. You can’t do it alone High-performing practices invest in expert support marketing, operations, and finance to scale efficiently. Seasons matter Balance looks different at different stages of ownership. Clarity, reflection, and intentional decision-making are key.

    55 min
  4. 137: Financial Mistakes - Tax Planning Gaps

    JAN 16

    137: Financial Mistakes - Tax Planning Gaps

    In this episode of the Dental Boardroom Podcast, host Wes Read, CPA and financial advisor at Practice CFO continues his series on common financial mistakes dentists make, this time focusing on tax planning gaps. Wes explains why many dental practice owners unknowingly overpay taxes and how poor tax planning often results from weak cash flow management, rather than bad intentions. This episode breaks down complex tax concepts into practical insights, helping dentists understand how smarter planning throughout the year, not just at tax time, can lead to tens of thousands of dollars in savings annually and faster financial independence. Key Notes:1. Tax Planning Is Not a Once-a-Year ActivityMany dentists believe tax planning is handled solely by their CPA at year-end.Real tax planning happens throughout the year, tied directly to business decisions.Waiting until December often means it’s already too late to reduce taxes effectively. 2. Tax Planning Is a Subset of Cash Flow PlanningTaxes cannot be optimized in isolation.Every dollar flowing through the practice revenue, expenses, payroll, debt, and savings affects tax outcomes.Smart tax strategies must consider current and future cash flow, not just immediate deductions. 3. Common Tax Planning Gaps Dentists Make Missing legitimate deductions (leaving money on the table).Buying equipment just for a tax write-off without considering long-term loan payments.Poor timing of depreciation and capital purchases.Not coordinating payroll, distributions, and retirement planning. 4. Understanding S Corporations vs. Sole ProprietorshipsBeing an S Corp does not automatically mean you’re saving taxes.S Corps come with higher administrative costs, so the tax benefits must outweigh them. In general: Under ~$150k income → Sole proprietor may make more sense.$180k–$200k+ profit → S Corp usually becomes beneficial. 5. Reasonable Compensation: The Biggest Tax LeverAs an S Corp owner, you pay yourself in two ways:W-2 wages (subject to payroll/FICA taxes)Distributions (not subject to FICA)Paying too little W-2 can trigger IRS penalties.Paying too much W-2 can unnecessarily increase payroll taxes.Finding the right balance is critical to staying compliant and...

    48 min
  5. 136: 2025 Q4 Financial Market Update

    12/10/2025

    136: 2025 Q4 Financial Market Update

    In this episode of the Dental Boardroom Podcast, host Wes Read, CPA and financial advisor at Practice CFO, is joined by Brandon Hobson and Paul for their quarterly deep dive into the stock market, global economy, and what dentists and practice owners should prepare for as 2026 approaches. The episode covers: The Federal Reserve’s rate movements and expected leadership changeWhether the current AI wave is a bubble or a true productivity revolutionThe future relevance of the traditional 60/40 investment strategyHow economic shifts impact dentists’ borrowing, practice finances, and patient spendingPractice CFO’s investment outlook and positioning for 2026 A must-listen for dental entrepreneurs and investors navigating today’s unpredictable financial landscape. Key Topics & Takeaways1. Federal Reserve Update & Interest RatesCurrent Fed Funds Rate: 3.75%–4%, with another 0.25% cut expected soon.Kevin Hassett is the likely replacement for Jerome Powell in 2026   potentially a more politically influenced choice.Concerns about Fed independence rising due to political pressure.Rate cuts stimulate borrowing but risk inflation if overdone. Importance for dentists: Affects practice loans, buildouts, refinancing, and equipment financing.Impacts patient discretionary spending, especially in cosmetic dentistry. 2. Stagflation Risk?Inflation appears stable around the mid-2% range.Unemployment creeping toward 4%.Risk emerges if inflation rises while unemployment increases = “stagflation.”Not yet alarming, but the rate of change is what matters. 3. GDP & Economic StrengthU.S. GDP last reading (Q2): 3.8%, stronger than expected.Global GDP remains surprisingly strong despite trade tensions.Q3 & Q4 readings delayed due to government shutdown but expected to stay positive. 4. AI: Bubble or Breakthrough?Big tech’s AI infrastructure spend expected to hit $3 trillion by 2028.53% of investors believe we are in an AI bubble.OpenAI & NVIDIA valuations are 30–40× revenue, compared to Walmart at 1.3×.MIT study: 95% of companies currently see no ROI from AI. Major concerns: Revenue lag vs. massive AI investmentCircular funding structures (promising investments without cash to fulfill them)Big tech taking on debt to fund AI (Meta’s off-balance-sheet financing)Parallel drawn to the dot-com era   huge innovation + huge speculative hype. 5. What About the Magnificent Seven?High valuations and interconnected dependence create contagion risk.NVIDIA’s unusually high profit margins may attract new competition.Some tech (like Google, Meta) still offers strong fundamentals & cash flow.But investors should avoid blindly overweighting tech indexes. 6. Is the Classic 60/40 Portfolio Back?After years of underperformance, value stocks and quality companies are regaining momentum. PracticeCFO’s positioning: Lower tech exposure (15–18% vs. S&P 35–40%)Higher weight in value, quality, and cash-flow-focused companies20–40% international stocks for diversification AI benefits will extend to all sectors   consumer staples may monetize AI faster and cheaper than...

    56 min
  6. 135: Finding the Right Dental Practice with Chris Marshall

    11/21/2025

    135: Finding the Right Dental Practice with Chris Marshall

    In this episode of the Dental Boardroom Podcast, host Wes Read, CPA and financial advisor at Practice CFO, and Chris Marshall break down some of the most important warning signs dentists should watch out for when evaluating a dental practice for purchase. Drawing from real client cases and common deal-flow patterns, they discuss the financial, operational, and clinical red flags that often hide beneath the surface of seemingly attractive listings. Listeners will learn how to interpret declining numbers, inconsistent hygiene schedules, sudden production increases, PPO manipulations, risky seller behaviors, and gaps in patient flow. By the end of the episode, you’ll understand how to look past broker language and identify the true health or weakness of a prospective practice. Key Takeaways1. Declining Production or Collections Are a Major Red FlagIf collections or production drop year-over-year even slightly it signals deeper issues. This could mean a declining patient base, ineffective ownership, poor systems, lack of demand, or mismanagement. 2. Hygiene Department Instability Signals Deeper ProblemsLarge swings in hygiene revenueInconsistent recall schedulesDeclining hygiene visitsThese typically indicate poor systems, weak re-care, or a lack of organization affecting long-term revenue. 3. Sudden, Unexplained Production Increases Are Often ArtificialA seller spiking numbers in the year before the sale is a common tactic. Examples include: Over-treatmentRunning unnecessary proceduresPre-billing treatment A buyer should be cautious: inflated numbers ≠ sustainable revenue. 4. PPO / Insurance Manipulation Is a Growing ConcernPractices sometimes: Drop PPOs before sellingSwitch PPO participationAdjust fee schedules to appear more profitable Understanding the insurance environment is essential to projecting true cash flow. 5. Seller Behavior Tells You Almost EverythingPay attention if the seller: Wants to leave immediatelyAvoids answering questionsHas incomplete recordsShows disorganized systems These behaviors often align with financial or operational decline.

    1h 16m
  7. 134: The State of Dentistry with Howard Farran, Founder of Dentaltown - Part 2

    11/13/2025

    134: The State of Dentistry with Howard Farran, Founder of Dentaltown - Part 2

    In this episode of the Dental Boardroom Podcast, host Wes Read, CPA and financial advisor at Practice CFO, and Dr. Howard Farran, Founder of Dentaltown, delve into the evolving landscape of dental ownership from the rise of private equity in dentistry to the challenges and opportunities facing today’s practitioners. They explore how cheap financing and investor enthusiasm fueled massive consolidation in the dental space over the past decade, and why the focus is now shifting from quantity to quality. As interest rates rise and capital tightens, DSOs and private equity groups are becoming more selective, prioritizing well-run, profitable practices over sheer scale. The discussion also contrasts private equity-led DSOs with those founded and guided by dentists, examining how leadership, culture, and long-term vision shape patient outcomes and professional integrity. Dr. Farran passionately defends the importance of dentist-led organizations, transparency, and long-term patient relationships, emphasizing that dentistry is a “sacred profession,” not just a business. Wes complements this view with a grounded financial perspective, offering practical advice for dentists who aspire to grow sustainably, without losing their clinical focus or personal balance. Key TakeawaysThe PE Boom and Shift: Low interest rates and abundant capital fueled a buying frenzy in dental practices, but the landscape is changing with higher borrowing costs.From Volume to Value: DSOs are now focused on high-quality operations and sustainable cash flow rather than mass acquisitions.Dentist-Led vs. Investor-Led DSOs: Dr. Farran stresses that DSOs led by clinicians, not “suits,” create better care models and stronger trust with patients.Operational Mastery First: Before expanding, dentists should perfect one successful “prototype” practice much like McDonald’s perfected its first store before scaling.Liquidity and Transparency Matter: Private equity’s lack of transparency and illiquidity pose risks; publicly traded or dentist-owned models offer more accountability.AI and Dentistry: Both see promise and potential pitfalls as AI expands into diagnostics and insurance, cautioning that technology can empower or restrict clinicians depending on who controls it.

    53 min
  8. 133: The State of Dentistry with Howard Farran, Founder of Dentaltown - Part 1

    11/11/2025

    133: The State of Dentistry with Howard Farran, Founder of Dentaltown - Part 1

    In this episode of the Dental Boardroom Podcast, host Wes Read, CPA and financial advisor at Practice CFO, sits down with Howard Farran, founder of Dentaltown and one of the most influential thought leaders in the dental industry. Together, they explore the evolution of dentistry from emerging AI technology to the rise of DSOs, the challenges new grads face, and the skills needed to thrive in today’s rapidly shifting landscape. This episode delivers raw insights, bold perspectives, and practical lessons for dentists at every stage of their careers. Key PointsAI & the Future of DentistryAI is transforming dentistry at historic speed—comparable to the rise of the internet.Dentaltown is building AI tools to unlock insights from 10+ million dental conversations.AI won’t replace dentists but dentists who adopt AI will replace those who don’t.Example: Robotics like Yomi are enhancing implant surgery, not eliminating the surgeon. The Real DSO Landscape Not all DSOs are massive corporate chains.The real competition for private practices? Local 4–9 location DSOs scaling smartly across small regions.These local groups win by leveraging:Shared marketingCentralized operationsBetter purchasing powerStructured systems Advice for Young DentistsStudent debt is real, but so are lifestyle choices that amplify it.Early career focus should be:Clinical reps and speedLearning practice systemsStrong mentorshipThe best first job is one that teaches:Business operationsFull-scope clinical carePatient flow and case acceptance The Competitive Edge for Private PracticePatients choose loyalty, trust, and relationships.Private practices win when they deliver:Consistency in careStable teamsReal human connectionHigh staff and doctor turnover in corporate settings creates opportunities for private offices to stand out. Know Your Numbers With the Right AdvisorA general accountant isn’t enough in dentistry.Dentists need advisors who understand:PPO strategyOverhead benchmarksPractice-specific financial planningGrowth vs. profitabilitySpecialized financial guidance is a competitive advantage. Insurance is Not the Whole MarketHalf of patients don’t have dental insurance.Present multiple treatment paths:Basic → Mid-tier → Ideal careNever assume what a patient can or can’t afford—let them choose. Who Should Listen? ✔ New dentists navigating debt and career choices ✔ Private practice owners competing with DSOs ✔ Clinicians curious about AI adoption ✔ Anyone wanting unfiltered industry truth

    1h 4m
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5
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About

A place for dentists to find expert insight and information around everything from navigating residency and associate opportunities to being a successful dental practice owner.

Information

  • Creator
    PracticeCFO
  • Years Active
    2020 - 2026
  • Episodes
    142
  • Rating
    Clean
  • Copyright
    © 2023 The Dental Boardroom
  • Show Website
    The Dental Boardroom

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