Medical Practice CPA Firm

Our professional practice management group includes experienced CPAs, tax specialists and management consultants who are skilled and experienced with physician practices. We understand the complexities of your practice. We work with cardiologists, radiologists, MRI centers, dental groups, nursing practices and pediatric groups. This understanding allows us to facilitate informed business strategies while reducing costs and maximizing profits. Our experts can help build success throughout your practice with a number of special services.

Our team of tax planning and preparation professionals are available to address your taxes year-round! As a physician group practice, quality tax planning and preparation are essential to your financial strength, and we can go beyond simply preparing your yearly tax return. We want to be at your side as your tax experts all year long. With our experience in the health care industry, MillerMusmar CPAs can help you take advantage of every available incentive and minimize your taxes!

At MillerMusmar CPAs, we believe it is essential to gain a thorough understanding of your company’s operations, tax elections, and methods to not only prepare an accurate, complete set of returns, but also find the most effective means to save tax dollars and meet your financial objectives. From implementing tax-saving strategies and reviewing new legislation, to evaluating current elections and amending returns, our staff works throughout the year to find the most effective ways to save your tax dollars and keep more of your hard-earned profit.

Our tax professionals include specialists who are proactive, strategic thinkers who work to maximize your after tax cash flow. We believe tax planning is most effective when it is customized for each doctor and in line with your business plan and personal goals. We will help you better understand the tax implications of any proposed course of action, and together we can make the right decisions for you and your business.

Our specific tax planning and preparation services include:

  1. All federal, state and local income tax Planning and return preparation
  2. IRS and state audit representation
  3. Strategic income tax planning for business owners and high net worth individuals
  4. Estate and gift tax planning
  5. Executive compensation
  6. Mergers, acquisitions, divestitures, and due diligence

Revenue-focused Practice Analysis

We work with your practice administrator to prepare customer reports that enable doctors and practice administrators to better manage and plan to maximize the revenue of the practice.

Advisory Consulting and Compensation Plans

We structure plans that allow physicians to properly design compensation plans that motivate their associates to produce and allow the equity principles to attain their appropriate profit margin. As advisors, we work with the equity principles to address items such as cost cutting, financial impact of healthcare legislation, and lease negotiation.

Medical Practice Benchmarking

We will benchmark the entire set of annual statements and present you with a report that explains the data behind the performance of your medical practice.

Benefits Consulting

We provide benefits consulting including 401(k) plans, pensions, profit sharing, cafeteria plans, and other employee benefit programs through Strategic Capital Advisors.

Review/Analysis of New Doctor Agreements and Compensation

We will review new doctor agreements and address the cash flow impact of such agreements. We will also create budgets to help your new doctors track their progress and productivity.

Practice Management and Medical Accounting Services

We work to support practice managers and assist them in maintaining accurate books and records.  We can maintain internal controls of the practice, address cash flow needs, comply with all bank reporting and covenant requirements, bench marking, and reconcile medical billings and collections with the accounting system. We will also customize the chart of accounts and create departments within the accounting software to allow for better reporting and practice management.

General Accounting and Financial Statement Preparation

Accurate, timely financials are essential for any company. They provide the critical information necessary to manage and build your business. The right approach to your company’s accounting can improve profitability and cash flow, illuminate opportunities, and position your company for future success. As you know, do-it-yourself accounting software only goes so far, and new tax laws and updated technology make it hard to stay ahead. MillerMusmar CPAs can help ensure your accounting function contributes to meeting your goals.

Outsourced Accounting, Bill Paying & Administration

Whether you just need help producing monthly financials or want to outsource your entire accounting function, MillerMusmar CPAs can provide the accounting support you need. You can trust our specialists to deliver the services you need on time and in a professional manner.  As a result, we help you make better decisions, react quickly to problems or opportunities, improve banking relationships, and relieve your company of the burden of building and maintaining an internal bookkeeping/accounting department or purchasing expensive accounting software.

Our team provides the back-office for any size medical practice in any field and can perform a variety of services including:

Lease vs. Buy Analysis

Embezzlement Review