Accounting for Dentists
Specialist Accountant for Dentists & Dental Clinics
Managing a dental practice goes beyond providing excellent patient care—you need a strong financial foundation to ensure your clinic runs smoothly and profitably. At Schofields Accountants, we specialise in accounting for dentists, offering expert financial, tax, and business advisory services tailored to your unique needs.
Whether you’re a dental student, contractor, practice owner, or planning for retirement, we provide strategic solutions to help you optimise cash flow, reduce tax liabilities, and grow your business.
Contact us today to see how we can help you build a financially secure and profitable dental practice.
Who We Help
Dental Students & Contractors
- Advice on tax obligations and income reporting.
- Assistance with ABN, GST registration, and superannuation contributions.
- Strategies for maximising tax deductions on equipment, training, and professional expenses.
Dentists Buying or Starting a Practice
- Business startup consulting and selecting the right business structure.
- Guidance on buying a dental practice, including financial due diligence.
- Setting up cloud accounting software (Xero & MYOB) for seamless financial tracking.
Growing Dental Clinics
- Cash flow forecasting and budgeting to ensure sustainable growth.
- Tax planning strategies to reduce liabilities and improve profitability.
- Payroll and single-touch payroll (STP) setup for managing employees efficiently.
Dentists Planning for Retirement
- Succession planning for a smooth business transition.
- Capital gains tax planning for selling a practice.
- Advice on self-managed super funds (SMSFs) and long-term wealth management.
Take Control of Your Dental Practice’s Finances
Whether you’re just starting, growing your practice, or planning for retirement, Schofields Accountants offers specialist accounting for dentists tailored to your needs.
Why Choose Schofields Accountants as Your Dental Accountant?
Specialist Accountant for Dentists
With extensive experience in dental practice accounting, we understand the unique challenges dentists face and provide tailored financial strategies to support your practice’s success.
Industry-Recognised Accreditations
Schofields Accountants is led by a CPA-qualified accountant with an MBA in Finance and a Graduate Certificate in Business Management, ensuring expert financial guidance tailored to the dental industry.
Customised Financial Solutions
Every dental practice is different. Our tailored accounting strategies help dentists optimise cash flow, reduce taxes, and plan for long-term financial security.
Proactive Business Support
We go beyond basic accounting services by providing business mentoring and advisory solutions to help you grow and scale your practice successfully.
Get Expert Dental Accounting Support Today
Managing a dental practice is demanding, but your financial management doesn’t have to be. At Schofields Accountants, we provide expert accounting for dental practices, helping you streamline your finances, optimise tax planning, and achieve your business goals.
Frequently Asked Questions
The ideal business structure depends on your individual circumstances, financial goals, and risk exposure. Common options include:
- Sole Trader – Simple and cost-effective but offers no asset protection.
- Partnership – Suitable for joint ownership but requires a clear agreement.
- Company – Provides liability protection but has more compliance requirements.
- Trust – Offers tax flexibility and asset protection but is more complex to manage.
At Schofields Accountants, we assess your situation and help you choose the best structure for tax efficiency, liability protection, and long-term growth.
Dentists face unique financial and tax considerations, such as high equipment costs and industry-specific deductions. A dental accountant understands these complexities and can provide expert guidance on tax planning, cash flow management, and business growth strategies.
As a dentist, you can claim tax deductions on:
- Dental equipment and supplies
- Professional development courses and memberships
- Business insurance and licensing fees
- Clinic rental, utilities, and operational costs
- Employee wages, superannuation, and payroll expenses
We help dentists identify all eligible deductions to minimise tax liabilities and keep more of their hard-earned income.
A dental accountant does more than just tax compliance. They provide:
- Financial forecasting and budgeting to ensure stable cash flow.
- Tax strategies to reduce liabilities and increase profitability.
- Business advisory services to improve efficiency and support expansion.
- Succession planning for dentists looking to transition out of their practice.
At Schofields Accountants, we work closely with you to maximise financial performance and support your long-term goals.
The earlier, the better! Having a dental accountant from the start ensures that:
- You choose the right business structure
- Your tax and compliance obligations are managed correctly
- Your finances are organised for long-term growth
If you already run a clinic, it’s never too late to optimise your dental accounting and financial strategy. Schofields Accountants can help at any stage of your career—whether you’re starting out, growing, or planning for retirement.
Need an expert accountant for your dental practice? Contact us today!