We offer high-quality, competitively priced educational programs throughout the year. Whether face-to-face or online, our programs give you the chance to learn and network.
Whether you’re selling a practice, looking for space, or pursuing new opportunities, look no further than the CDS dental classifieds, which receive more than 100,000 online views annually. Ads are also published in the Review, the bimonthly magazine of the society.
Network with your colleagues and
other members of the dental community with the tools and resources in this
Nine convenient branches:
Informing members of the latest issues in dentistry is our mission. While we cover issues of national importance to the profession, we have a strong regional emphasis for news.
You've seen the rest. Attend the best! Join us February 20 - 22, 2014, for three days of the best in lectures, hand-on learning and exhibits all conveniently located within the McCormick Place West Building!
The CDS Foundation is dedicated to strengthening dental education and improving oral health care by supporting programs in our communities. The foundation is a charitable 501(c)(3) tax-exempt organization.
Blue dates indicate one or more events
Join over 4,000CDS members.Stay connected!
Not a member?
Edgewood Valley Country Club, 7500 S. Willow Springs Rd., LaGrange
Janosik Banquet and Restaurant, 9126 S. Roberts Rd., Hickory Hills
As a purchaser, the decision to acquire a dental practice can be a difficult decision. To help you better understand the process, we can break it down into two primary issues: reaching your personal and professional objectives, and obtaining financial rewards.
Most often we find the dentist’s personal and professional objectives are the primary driving force when deciding to purchase a private practice. Some questions to ask yourself when looking at your career include:
The financial question of whether it makes sense to purchase a practice is a simpler question to answer.
It absolutely makes sense.
It is extremely rare to find a situation in which a dentist would obtain greater financial rewards remaining an associate or an employee of a group practice instead of becoming an owner or obtaining an equity position in an existing practice. A typical associate earns an effective rate of 30-35 percent of fee-for-service collections. Most private practice owners earn anywhere from 50-150 percent of their collection.
During a transition, a purchaser can expect to earn at least as much as he or she would as an associate producing the same amount of dentistry, after paying all practice overhead expenses and 100 percent of the financed purchase price over a 7-10 year period.
When comparing purchasing a practice to continuing being an associate, the advantages don’t stop at an equivalent cash flow after debt service. The interest of the acquisition loan and the depreciation of the practice purchased is 100 percent deductible, offering a substantial real tax savings, not to mention other tax benefits now available as a owner not available to employees or independent contractors.
In addition to the increased income, you will also be acquiring one of your largest personal assets that will be paid off and debt free in seven to 10 years. While this asset alone will not provide sufficient funds for retirement, it is often the single largest asset in a dentist’s investment portfolio.
Peter J. Ackerman, CPA, is a certified public accountant, licensed real estate and business broker and national speaker on business issues affecting dentists. For more information, email Mr. Ackerman or visit www.adsmidwest.com.
Suggestions? Email suggestions for topics to be covered, or any comments on this column, to Chicago Dental Society.
© 2010-2011, Chicago Dental Society
A tradition of working for the dental profession. The Chicago Dental Society was organized in 1864 and incorporated in 1878. The objective of the Chicago Dental Society is to encourage the improvement of the health of the public, to promote the art and science of dentistry and to represent the intrest of the members of the profession and the public that it serves.
401 North Michigan AvenueSuite 200Chicago, Illinois 60611