You became a veterinarian because you enjoy working with animals of all kinds. What you might not have been focused on are the aspects of running the day-to-day business side of the practice. That's why engaging advisors who provide industry expertise to help you make fact-based decisions is the best option. In every life stage of your practice (from start-up, through the growth phase, and eventual exit), your practice will benefit by partnering with an accounting firm that provides a consultative approach.
The SVA Veterinary Services team is excited to roll out the executive summary of our 2022-2023 salary and benefits survey.
This summary will help you benchmark your practice in order to ensure that you are best suited to attract and retain qualified staff, both now and into the future.
Business professionals need easy access to information to make timely decisions. SVA has what you need, when you need it. Choose a topic below or just contact us directly. Our expertise is ready anytime you need it.
By purchasing an existing practice, you are making money from day one. You have a staff up and ready to go, a client base, and a reputation in the community. Our experts can assist you with:
Whatever stage you're at in the buying process, we're here to help as your trusted financial advisor.
Understanding your practice's current financial data and what adjustments you can make to improve the bottom line will create greater profitability and increase the practice's value. Our experts will work with you and your staff to:
Arriving at a practice valuation should be simple, but it is not. Several methods can be used and some are quite involved. Having an updated appraisal is necessary for retirement planning and it can also help in impairment or even death. In many cases, your practice is often the most valuable asset you own. Anyone can render an opinion, but our valuation experts understand veterinary practice operations as well as intangible variables that add to the complexity of a practice valuation—expertise that can only be gained through experience.
You have finished school and are ready to start your veterinary practice, or you work for an existing practice and are prepared to branch out on your own. Before you get started, there are decisions to make that will truly shape your practice path. We will work closely with you to develop the right plan and provide continuous support throughout the process.
SVA's consultants can guide you through the compensation review process to develop your practice's best model. Our experts will help you determine if compensation should be a fixed salary, a percentage of revenue, or based on profitability. Compensation models can be designed for practice owners and associate veterinarians.
Tax services are more than just filing this year's tax return by the deadline. Our advisors are well-versed in all aspects of tax and the specifics of how tax laws impact your practice. We understand that managing your income tax liability is critical in managing your overall practice cash flow. We work with you on tax planning, consulting, and preparing individual, corporate, partnership, and trust and estate tax returns. Our experienced staff develops tax strategies geared to your financial situation, taking advantage of new tax laws and legislation, to help you meet all your financial goals.
Handling all your payroll, tax preparation, and bookkeeping needs in-house requires staff who are experienced in these functions, as well as the continual updating of your accounting software. These are time-consuming tasks which can be easily outsourced to an experienced provider. You can outsource as much or as little of the work and ensure there are adequate internal controls to avoid any risk of having the same people perform multiple duties.
Learn more about how outsourced accounting can help your business!
Whether you are reaching the point of retirement or are transitioning to another stage in your career, we will assist you on your path to success and peace of mind. From practice valuation to consultation regarding contract terms, we ensure that your personal financial goals and objectives remain our number one priority. We offer full and professional assistance along the journey. To get top dollar for your practice, you need to ensure that it is at maximum profitability. SVA can help you determine that by evaluating a few key areas including:
Are you preparing to buy or sell a practice? Start with our checklists so you don’t forget important factors to consider during the process.