Monday, September 29, 2014

Finding an Associate Dentist Job - It's not Just What You Do, It is How You Do It

Here is another guest blog from our friend Morgan Pace at ETS Dental.
Dentistry is a highly technical field requiring extensive training to hone clinical techniques and skills, yet it is often not these technical skills that determine who get the best jobs after dental school. Generally, the “soft skills” are what will make or break your chances of landing an ideal associate position. To separate yourself from other associate candidates, it is important to recognize what these skills are and why they matter.
What are “Soft Skills?” Soft skills, or people skills, are what inspire trust from patients. They make someone an effective communicator and a productive part of a team. There are many soft skills needed to be an effective dentist, but here are the leading soft skills requested by the practice owners for whom we consult.

Communication skills

Patients will take it for granted that the “Dr.” in front of your name means that you are qualified to drill a tooth or seat a crown. They do not become long-term patients because your margins are perfect. They come back to you because you are a pleasant person who understands your patient’s apprehension and takes the time to answer his or her questions. When interviewing a potential associate, a practice owner will look for these characteristics to determine the quality of your communication skills:

  • Clear articulation: Can you convey ideas so that others easily understand?
  • Expressiveness: Do you use voice inflection and descriptive language to avoid sounding “dry?"
  • Empathy: Do you inspire trust by accurately reading the emotions of others and respond appropriately?
  • Confidence: Do you exude self-assurance in your abilities?

Attitude and Outlook
Practice owners need their associates to be an asset to their practice. Most genuinely want the associate arrangement to be a “win-win” arrangement where everyone profits. Hiring a clinically exceptional but emotionally-taxing associate will not be sustainably beneficial to the practice. To avoid this, practice owners will look for the following:
  • Positive Attitude: Are you generally optimistic or are you overly critical? Will it be fun to work with you?
  • Willingness to learn: Are you accepting of feedback and helpful criticism or do you become defensive?
  • Flexibility: Can you adapt to changing circumstances and new challenges?
  • Work ethic: Will you exceed the minimum expectations? Will you go above and beyond for your patients when necessary?
  • Motivation: Will you continuously strive for improvement? Do you set challenging personal and professional goals? Will you be satisfied if you fail to achieve those goals?
Professionalism

Even the freshest new dental school graduate is a doctor and so has earned the respect of the dental practice staff and the larger community. With this respect comes the demand of maintaining a professional demeanor. Beyond that, you are a highly compensated professional with a public profile. You are a pillar of the community who will be a leader in the office. Can a practice owner trust you to maintain this esteem? Here is what he or she will look for:
  • Time Management: Can you be trusted to be ready to see patients as soon as the practice opens?
  • Team Player: Will you be cooperative and respectful when working toward greater group goals?
  • Leadership: Will you lead the office staff by example? Will you avoid petty squabbles? Will you have the courage to address problems and work towards solutions?
  • Problem Solving: Will you apply your training in a creative manner to drive innovation and improvement?
  • Work under pressure: Can you be trusted to maintain decorum under deadlines and through difficulties?
The more of these skills you display, the more comfortable a practice owner will be in choosing you for his or her practice. Remember - it is not what a practice can do for you, it is what you can do for a practice. 

Posted by Morgan Pace, Vice President and Senior Dentist Recruitment Consultant with ETS Dental. To find out more, call Morgan at (540) 491-9102 or email at mpace@etsdental.com.

Friday, September 26, 2014

The 9 Dos and Don'ts of Divorcing Your Business Partner

This is a guest blog from Melanie Glickson, ESQ.

            The dissolution of a business can be just as harrowing as divorcing your spouse.  Business partners split up for any number of reasons.  Sometimes one partner is not producing.  This might be due to personal troubles, like addiction to drugs or alcohol, which leads a breakdown in the business relationship.  Sometimes one partner becomes embroiled in an inappropriate romantic relationship with an employee, or otherwise engages in unprofessional behavior that places the practice at risk.  Sometimes financial wrongdoing (or perceived financial wrongdoing) is involved.  And from time to time, partners split up with each other simply because they have gotten on each other’s nerves over the years, with minor resentments building to excessive levels – again, not unlike many marriages. 

            If you find yourself in a situation where you feel you need to divorce your business partner, consider the following “dos” and “don’ts” to mitigate the cost and the stress associated with dissolution.

            1.         DO consult with a business attorney once you decide to ditch your partner.

            It can be challenging to effectuate a dissolution: you want to keep it quick and simple – all the while paying attention to the details. Add to this, managing the emotional and interpersonal stress associated with the separation.  Consult with a business attorney early.  You will be so glad you did.  A good business lawyer can help you clarify the steps to wind up the business and dissolve.  She should also be able to advise you about restructuring the business after dissolution - if you want to continue with the business afterwards.   If things become contentious, a litigator will probably need to get involved.  On the other hand, if you read, understand and act on the advice in this article, it might not have come to that.  While it is prudent to seek advice and counsel from an attorney at the beginning of the process, in most cases actually involving the court system should be seen as a last resort

            Each state has its own procedures for terminating a business entity, depending on the type of entity (LLC, corporation, general partnership, etc.).  The partnership agreement or operating agreement controls these terms, but if there is no agreement, or the agreement does not address dissolution, then the default rules provided in the state statute apply.  There are rules pertaining to voluntary dissolution (where the members consent) as well as court-ordered dissolution.  For voluntary dissolution, these procedures are not complicated, but there are certain necessary steps that need to be followed depending on the state and the type of entity.  For example, in Maryland, an LLC’s creditors must be provided with 19 days’ advance notice of dissolution.  You can consult your state’s business database to learn more about these procedures.

            2.         DO have an agreement in place that addresses dissolution.

            A good partnership agreement or operating agreement will address dissolution, like a prenuptial agreement in a marriage.  While not required by law, it can be risky to conduct business without one.  The agreement can provide a set of steps to end the relationship and repurchase the interest of a partner who is not performing or is unsatisfactory for reasons the agreement provides (i.e., conviction of a crime, loss of license, sleeping with the receptionist, a burgeoning addiction to mouthwash, or any other specified conduct). 

      If you never had an agreement with your partner, or if your agreement does not address dissolution, try to negotiate the terms of dissolution together with your partner.  Your attorney will memorialize these terms into a formal agreement in which you and your partner release each other from any claim relating to dissolution.

      If you are unsure about whether you want to separate with your partner, but you do not have any agreement governing your business relationship, have one drafted immediately.  While it’s better to draft these agreements in the beginning of the business relationship, it is never too late, until it is too late.  Simply advise your partner that you heard horror stories about practices that had no agreement, or say you are trying to boost the level of professionalism of the practice in general.

3.   DO elicit assistance from third-parties.

      Rather than arguing with your partner back and forth or losing sleep over the details of dissolution, utilize third-parties who are well-versed in issues surrounding dissolutions, and who can look at the situation without emotion.  Examples include attorneys, accountants, appraisers and mediators.  As an example, don’t tear your hair out trying to determine a range of value for the business – consult with your accountant.    

      If you are unable to come to mutually agreeable terms with your partner regarding dissolution, a neutral third-party in the form of a private mediator can cut short legal fees and resolve the matter quickly.  Parties typically fail to take advantage of mediation early enough, and could have saved significant legal fees and stress had they chosen to mediate early in the dispute.  Mediation sessions can often be scheduled at the last minute with a mediator that is mutually agreeable to both sides.  Many mediators are retired judges.  They are very knowledgeable and experienced at defusing tension and arriving at a settlement.  Your attorney can fill you in on the background of the potential mediators.  The mediator is paid an hourly rate that the parties often agree to split, or to count as a business expense associated with winding up.  The mediator puts the parties in different rooms with his or her attorney and goes back and forth to discuss the matter privately with each party to try to resolve the dispute.  Unlike arbitration, which is binding according to what the arbitrator decides, mediation yields a resolution only if the parties agree.  Mediation is confidential and the communications that take place cannot be used in litigation, in the event the case does not resolve and the parties move forward with a suit.

      If you are unable to negotiate the terms of dissolution directly or through a mediator, or through counsel, the dissolution will need to occur through the court system.  This should be seen as a last resort, as it is costly, public, and often involves mudslinging by both parties.

4.   DO review leases, contracts, and loan agreements to see how dissolution will affect them.

      Before you discuss a business divorce with your partner, you should review any leases, loan agreements, and contracts to determine the impact of dissolution.  Often, the business is still bound by the contract or lease through the end of the contract period or lease period, regardless of dissolution.  Sometimes you can negotiate with your landlord, but these are all subjects you need to discuss with your partner.  You should approach your partner about dissolution having reviewed these documents in advance.

5.   DO try to be direct and communicate with your partner about separating as soon as you decide.

      Once you decide to separate from your partner, sit down with your partner and have an honest, direct discussion.  Be tactful but truthful.  Allow time for the news to sink in and then address the details. 

      The break-up discussion is difficult, but important to conduct.  Consider the following example of how complicated things can get, very quickly, in a business breakup when the lines of communication are not left open.  One particular individual decided to break up with her partner.  She was so worried about her partner’s reaction that she never actually sat down and communicated her desire to separate.  Instead, over a weekend, she unilaterally moved half of the office property into storage and transferred half of the money out of the bank accounts.  On Monday morning, the partner walked into the office to find half of the furniture gone, half of the money gone from the accounts, and a letter on her desk announcing the split, asking for consent to dissolve, and threatening to seek judicial dissolution of the business if she did not give consent.  The surprised partner called the police and tried to have her partner arrested for embezzlement.  Then, she (the surprised partner) hired a lawyer who threatened to file a temporary restraining order against the unilateral-acting partner, preventing her from earning any income until she returned the office furniture and the money.  Both parties threatened to file breach of fiduciary duty claims against each other.  Both the tension and the attorney’s fees escalated at breakneck speed. 

      6.  DON’T communicate directly with your partner once lawyers are involved.

            While open, honest, direct communication is key at the beginning stages of a dissolution, if the split becomes acrimonious, both sides need to communicate only through counsel.  It is not unusual for the attorneys to pass along telephone messages and mail on behalf of their client, to the other business partner, so that the parties do not have to communicate directly.  While this may seem unnecessary and juvenile, for various reasons, adverse parties should not be communicating except through counsel.  Moreover, if the relationship has truly devolved, even communications about ordinary office banalities while the parties are still in business together can lead to knock-down, drag out arguments.

            7.         DON’T allow personal feelings to draw out the process.

            At the end of the day, you don’t want to wind up in a situation where you are paying your lawyers large sums to fight about who gets the copier and who gets the office chairs.  Just like when a marriage ends, distribution of the assets can be wrought with the emotion over the breakup.  Don’t succumb.  Tell your attorney what you are willing to compromise about and let her do the negotiating.  You can give your attorney the authority to negotiate on your behalf without necessarily giving you a detailed play-by-play of every detail and every discussion.  You, not your lawyer, will have ultimate approval authority over any agreement proposed.  Take a step back, and don’t get lost in the details. 

            8.         DON’T lose sight of the bigger picture.

            When you are negotiating the terms of dissolution with your partner, whether it is directly, through counsel, or through mediation, keep in mind that it is usually worth it to give up something in exchange for peace of mind.  Orient your frame of mind on your next chapter.

            9.         DON’T overthink it. 

            You should give careful consideration to the prospect of separating from your business partner, but don’t obsess.  As painful as it can be to split with your partner, if your gut tells you it’s necessary, you will probably be better off in the long run.  People torture themselves for years wondering “should I, or shouldn’t I?”  It’s better to act quickly and move forward toward the goal of achieving business success.
           

 For more information about your particular situation, contact Melanie Glickson, ESQ.

Tuesday, September 9, 2014

IRS Pays Taxpayer's Legal Bills - Tax Court Ruling

Chalk one up for the taxpayers.

Penalties—Taxpayer Awarded Attorneys' Fees after IRS Refuses to Abate Incorrect Assessment: A taxpayer, whose son lived with him most of the year, claimed Head of Household (HOH) filing status but did not claim his son as a dependent. (He and the child's mother had agreed that she could claim the dependency exemption.) The IRS issued a math error notice to the taxpayer, indicating that it had changed his filing status to single because the name of the dependent who qualified him for HOH status was not reported on the return. The taxpayer made a timely request for abatement and included the reasons for claiming HOH status. During a collection due process hearing, the IRS refused to abate the assessed tax, despite the taxpayer's support for filing as HOH (e.g., name and Social Security of his son). Upon filing a petition with the Tax Court, the IRS conceded to abate the assessment. The taxpayer requested reimbursement for his attorney's fees under IRC Sec. 7430(a), which the IRS challenged. The Court sided with the taxpayer because the taxpayer was the prevailing party, exhausted all administrative remedies available to him within the IRS, and did not unreasonably delay the proceedings. Michael Swiggart , TC Memo 2014-172 (Tax Ct.). 

Monday, July 21, 2014

IRS Phone Scam Alert

Our friends at Rea and Associates recently featured an article in their newsletter that sparked a lot of internal conversations here. One of our senior folks had received one of these phone calls (as had some of our clients). Rea and Associates kindly allowed us to share this with you as well.

Here is what Lance Jacob, EA has to say about his experience with one of these scam calls:

1.       The callers had foreign accents (not that there is anything wrong with that)
2.       They made it seem like they are working with a supervisor and will transfer your call when you start asking questions (the only mistake was that he transferred my call and I could tell it was the same person I had just spoken to).
3.       The area code was 202 making you think they were calling from IRS headquarters in DC

4.       Ask them for their badge number and a callback number because you want to speak with the IRS Taxpayer Advocate and call them back. They will probably hang up.


Be On Guard For IRS Phone Scams


Maribeth Wright | July 17th, 2014

You get a call from a man who said he was from the IRS and was informing you that criminal activity was found after the IRS performed an audit on your past taxes. Then he asks if you had a criminal lawyer to represent you. And as you tried to get a word in edgewise, he told you not to interrupt him because the IRS and local authorities were recording your phone call. Pretty unnerving, right?

Well, unfortunately, this phone call actually took place with a client. And these types of phone calls are happening constantly. Back in April, the IRS issued a warning for consumers about phone scams targeting taxpayers. During the 2013 tax filing season numerous phone scams occurred, but the IRS has seen an increase in these scams since then. Because the IRS believes that these incidents will continue to plague taxpayers, it’s important to be vigilant for these kinds of calls.

The 4-1-1 On These IRS Phone Scams

  • Some taxpayers who received these calls were told they’re entitled to a big tax refund, or that they owe a lot of money to the IRS that needs to be paid immediately. Don’t be fooled. The IRS won’t contact you via phone about these matters. If you ever owe the IRS money, you’ll be sent a written notification via mail.
  • The IRS will never ask you for personal financial information over the phone, such as your credit or debit card information. If you’re asked for this information from someone claiming they’re from the IRS, don’t give it and report the incident immediately to the IRS.
  • Some IRS scammers use fake names/surnames (most of the time these names are common) and IRS badge numbers when they identify themselves.
  • It’s possible that a scammer knows and can tell you the last four digits of your Social Security number.
  • The phone number that a scammer calls you from could look like it’s from the IRS toll-free number.
  • If you take one of these scam calls, you may receive a bogus follow-up email to make it look like it is a legitimate inquiry from the IRS.
  • You may be threatened with jail time or driver’s license suspension from one of these scammers. They may then hang up on you and then call back pretending to be the police or DMV, further trying to prove their claim to you.

What Should You Do If You Get One Of These Calls?

So have you received one of these calls? If so, and you’re not sure the next step, here’s what you should do:
  • If you think you might owe taxes or there may be an issue with your taxes, call the IRS at 1.800.829.1040. Someone at the line can help you determine if you indeed have a payment due.
  • If you feel you received this call unexpectedly and know you have no IRS issues, call and report the incident to the Treasury Inspector General for Tax Administration at 1.800.366.4484.
In light of these increasing incidents, be on the lookout and don’t fall prey to these scams. Hang up if you’re uncomfortable with the call. And know that the IRS would never ask for personal financial information over the phone or in an email. If you receive any suspicious emails, forward the email tophishing@irs.gov.

Ohio Tax Help


If you’re ever unsure about anything you received from the IRS, whether it be a letter, a phone call or email, contact Rea & Associates. Our team of Ohio tax professionals can help you determine if the inquiry is legitimate, and assist you with responding.

Author: Maribeth Wright, CPA (Cambridge office)

Thursday, July 3, 2014

Why Become a Dentist?

Here is another guest post from Dr. Donald Lurie.

It seems to me that goals and aspirations upon entering dentistry have changed drastically over the years.  A few weeks ago, I was attending a conference and the subject arose as to "Why did you become a dentist?"  I thought this was a really easy question until I tried to write down the reasons that I entered this wonderful profession 50 years ago.  As I reflected upon the question, I realized that the dynamic had changed so dramatically over the years that it was now, for me, a most difficult question to answer and to update.  

I listed the reasons that started me on this journey:  to heal and to cure the sick, to maintain independence and be my "own boss", to have the ability to make a substantial income, to provide for my family, to obtain respect in the community were but a few of the immediate reasons for charting this path.  But now the dynamic has changed so much that I am not sure that I could compare those thoughts to a new student with aspirations.  You would have to interpret the ability to be "your own boss". I am not sure that, in these times, that is as possible as in the "old" days.  The time of solo practice, of studying, training, postgraduate degrees and residency and then entering practice on your own appear to be over.  

I remember going to the bank and asking for a loan to open my own office.  The banker (a classmate from college) advised me as to what he thought it would take, shook my hand and said there would be some paperwork to fill out.  He suggested that I go and find my location, lease the property and prepare to renovate the space for my needs.  He also suggested that I bring the information back to him so he could advise me.  Thus, with the help of my accountant who was already on my team----before I even had an office---the Team of Retirement (which I have talked about in earlier articles) was started.  This is actually a philosophical term of practice management that has served me well. It has served me well.  Can you imagine being able to do that in today's financial world?  And would you have the fortitude (guts) to do it.  In those early days, this was the norm.  There were very few group practices, especially in general dentistry.  Some of the specialty practices had small groups but there were fewer specialists in total.  I suspect that this was a means to keep the "market closed".  As time went on, more specialists opened on their own and over the years, many of them merged; and many of them dissolved.

The desire to heal the sick and to make people well and return them to function has never dissipated.  This is still a goal that has been with me my entire life and even in retirement I continue to give and to donate effort to this ideal.  However, I wonder if the freedom to exercise this is as easy as it was in my beginning.  There is so much litigation, so much inspection, so many bureaus to satisfy, that I wonder if I would have the courage to try some of the new techniques and projections that I did in those days.  If a doctor had an idea, he would suggest it to a patient and many times, it was accepted and tried.  Now I am not talking about moribund procedures, but rather a new technique or variation on a theme mixed with good common sense and based on good surgical knowledge and experience. And if the "experiment" went wrong, the social media that is now present would crucify me and the good that I had done over the course of my years in practice might disintegrate quickly.  These are just thoughts but it gives me pause as I look back on reasons why I became and Dentist and Oral Surgeon.  

I think that the opportunity to make a good income and to provide for one's family is still viable but I am not sure that it is as attractive as it once was possible.  The tax laws are so different and the age of insurance and government interference have also changed the dynamic.  The large groups are doing quite well and are able to diversify but the small solo practitioner may be another story.  I have to yield to the accountants for introspection on this, but it is something that I have heard many times recently. 

I mentioned above about the respect of the community and I think that is still true.  The doctors of today are TALL and WELL REGARDED.  I think that this has always been so and it is a tribute to the schools and to the profession that has nurtured us on our journey.  We feel discomfort when one of our group is challenged or if a bad report hits the news since we feel it reflects on all of us.  It is part of our heritage that we want to "do no harm."  I also feel that (especially in these times) our brothers and sisters do a fantastic job of carrying on the respect of the professions. 

And so I think that you can understand how difficult it was to list and compare the reasons that started me in this profession of dentistry and surgery.  The years of training were many (including dental and medical school and then residency), but they are even longer now.  I would challenge you to sit and reflect on your career and for the reasons that you are where you are at this time.  Reflect, meditate and make it better while you can.  And may this wonderful career bring peace and joy to you and to those you serve. 


We are all here to help one another.  Please do not hesitate to send me you thoughts, questions  or comments.  It would be an honor to help.  

Dr. Donald B. Lurie
email:  donald.lurie@att.net
Phone:     717-235-0764
Cell:         410-218-2228