Medical Practices
Maximizing Your Practice Efficiency
“Healthcare Reform” will create turbulence for health care providers for many years to come.
Sterling’s Bookkeeping & Tax Service has over 25 years serving medical doctors and their practices. We understand your ever changing, and increasingly complex needs -- and can guide you sure-footedly through the ever changing healthcare landscape, to maximize your medical practice after tax returns.
Sterling’s Bookkeeping & Tax Service offers the sophisticated expertise of the large firms, but with a personalized touch. Your work will be overseen by a principal in the firm who will provide you with the financial advice you need to ensure consistent compliance, and maximization of after tax income and practice efficiency.
On a daily basis you have your own personal bookkeeper that understands you, your practice, and your goals. Therefore, they are able to review your books with a total understanding of why and how to best allocate resources for a maximum return.
Essentially, Sterling’s Bookkeeping & Tax Service is your medical practice’s offsite bookeeping, tax and payroll department.
Consulting: We review your current financial and operations to determine how you can maximize your after tax earnings. This review is conducted periodically as you or your business changes.
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 Financial and Cash Flow Management Consultations
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Your personal advisor will make recommendations for maximizing after tax income including; minimizing taxes, taking advantage of tax breaks, tax deductions and tax credits, asset purchases, operational practices etc., thus improving operating costs and enhancing the bottom line.
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Medical Specific Services - We understand the complexity of medical practices and the your very specific needs.
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Practice Start Up Consultation
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This is tenuous at the very least. We will assist you in setting up your company, record keeping, accounting processes and all the minor details associated with starting a new business.
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Practice Evaluations
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We will provide a financial study of an existing practice. After the evaluation we will consult with you and offer advice for improvement.
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Capturing of income
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Based on Chips, Medicare, Medicaid, Tricare, Workmans comp, and unremimbursed care - deductions.
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Investment Advice
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We will offer advice on sound investments such as financial vehicles to produce income, reduce taxes, save money, compensation.
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Bookkeeping - We assume responsibility for daily financial operations to reduce client time spent on administration, allowing the client to focus on income generation.
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General Ledger
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Entering of all data, review of data, and readjustment of data to ensure coding and reclassification of transactional entries will maximize deductions.
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Bank Account Reconciliation
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Ensures your record of transactions match bank records.
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Accounts Receivable Reports
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Assists your company in managing cash collections and foresee any potential problems to avoid complications.
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Accounts Payable Reports
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Assists your company to determine the best method of bill payment to maximize cash flow.
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Personal Financial Statements
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Gathers all relevant documentation and creates a summary of financial position.
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Bill Payment
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Reduces your time spent on paying bills (check or online) - personal and business.
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Invoicing
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Reduces your company time and resources spent on invoicing customers, by preparing all invoices to be sent out.
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Collections
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Sterling’s Bookkeeping & Tax Service will chase your clients' past due account reducing your administration time and resources.
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Budgeting
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Help you establish a budget for both income and expenses, to maximize after tax income and limit liabilities each month.
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Sales Tax Preparation
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Sales Tax Preparation includes a number of services that will save you time, and ensure accuracy.
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Payroll
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Process payroll for your company on your pay dates (by direct deposit or check), and electronically pay the payroll taxes and e-file payroll tax returns. Additionally, Sterling’s Bookkeeping and Tax Service calculates payroll for clients that pay themselves and offer advice to maximize after tax income.
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Forecasting
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Help you to determine cash flow and income verses expenses through data analysis.
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Payroll Tax Problems
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Assist clients with current and past due payroll tax issues by filing all tax returns
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Additional Services
Please click here to e-mail us for a free consultation or call Gilbert Castillo at 214.330.4682 ext 12
Maximizing Practice After Tax Income