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Know real cost of home office tax deduction
August 1st 2002The expense of using a portion of your home "exclusively" for business purposes is, as everyone knows, tax deductible. Changes to the tax laws that became effective in 1999, significantly increased the number of veterinarians who were eligible to deduct home office expenses.
Offering emergency medicine with style
July 1st 2002When Dr. Randy Spencer stepped outside his hospital doors 13 years ago and glanced around the growing suburb of Phoenix that surrounded First Regional Animal Hospital, he didn't like what he saw. Ten veterinary hospitals were situated within a 3-mile radius of the practice. "That kind of competition dampens productivity," says the 1987 Colorado State graduate.
New facility, new visibility, new growth
June 1st 2002Dr. Troy Bearden likens building a new hospital to walking a tightrope without a net. "You take a chance and hope you don't fall," he says. For him and his partner, Dr. Catherine Mabe, the risk paid off. Their 5,300-square-foot Shallowford Animal Hospital in Chattanooga, Tenn., more than doubles the size of their former facility and won a Merit Award in the 2002 Veterinary Economics Hospital Design Competition. Two years after opening, the doctors still see new-client numbers increase 30 percent a month.
A design that spotlights specialists
May 1st 2002General practitioners launching their own practices often start small, hoping to afford a larger space eventually. Not so with specialty/emergency practices, say Drs. Gary Block and Justine Johnson, husband-and-wife owners of Ocean State Veterinary Specialists in East Greenwich, R.I.
Diligence, internal controls help thwart would-be embezzlers
May 1st 2002Have you ever been bamboozled by an embezzler? Dr. Alice Villalobos of Hermosa Beach, Calif., planted the thought in the minds of about 75 practitioners and practice managers during a management conference hosted by the American Animal Hospital Association in Boston.
Track and interpret 'just the facts'
May 1st 2002"Just the facts, just give us the facts." That is my best recollection of one of the favorite phrases of Sergeant Joe Friday, on the TV series "Dragnet". I am not showing my age too much, am I? Anyway, there are many times in dairy practice when we really need facts to back up the suggestions we give to our clients.
Tax law changes offer advantages to DVMs
May 1st 2002President George W. Bush signed a long-sought-after economic stimulus package March 9. The "Job Creation and Worker Assistance Act of 2002" (H.R. 3090) is a combination of business economic stimulus provisions, relief provisions for lower Manhattan businesses affected by the 9/11 terrorist attacks, a 13-week extension of unemployment benefits, extensions for expired or soon-to-expire tax breaks and technical corrections.