Seattle is a great place to live and work, but it can be a challenging place to run a medical practice. The cost of living is high, and the competition for patients is fierce. In addition, medical practices in Seattle are facing a number of financial challenges, including: These challenges can
The Seattle City Council’s Spending Problem
The Seattle City Council has been in a spending spiral for years. From 2012 to 2019, the General Fund budget (which funds basic city services such as police, fire, and human services) increased by 52%. City employees (not including utility and transportation workers) increased by 26%. The council
CPAs and MIAs: A Powerful Team for Managing Your Medical Expenses
Medical Insurance Advocates (MIAs) can help individuals with a variety of accounting tasks related to their medical expenses. This includes: CPAs can also play a role in helping individuals with their medical expenses. CPAs can: By working together, MIAs and CPAs can help individuals save
Finding the Right CPA & the Ethics of Medicine as a Business
As a small medical practice, you are faced with many ethical dilemmas when it comes to the cost of providing care. On the one hand, you want to provide the best possible care for your patients, regardless of their ability to pay. On the other hand, you need to make enough money to keep your practice
How to Use Data to Improve Cash Flow for Your Medical Practice
Cash flow and collections are essential for the success of any medical practice. However, many small medical practices don't realize they have valuable data at their disposal that can be used to improve these processes. By understanding your data, you can gain insights into your patients, your
Seattle’s JumpStart Tax: What Small Business Owners Need to Know
The Seattle JumpStart payroll tax is a tax on businesses with a total payroll of more than $8.1 million annually, and that have at least one employee making $174,337 per year or more. The tax rate is 1% for businesses with a payroll of up to $20 million, 2% for businesses with a payroll of $20
Business Tax Credits in Seattle, Washington
Business tax credits can help businesses reduce their tax liability. These credits are available for a variety of purposes, such as hiring new employees, investing in research and development, or expanding into new markets. Types of Business Tax Credits in Seattle The following are some of the
When an Employee Asks for a Raise and You Can’t Afford It
As a small business owner, you know that every dollar counts. So when an employee asks for a raise, it can be a tough decision. You want to keep your employees happy and motivated, but you also don't want to put your business in financial jeopardy. If you're in this situation, here are a few