Mark E. Battersby

A successful financial plan should offer you the choice of allocating profits back to the practice or into a more diversified portfolio.

FLP requires both careful analysis and strict compliance with IRS regulations.

When it's time to fix-up, remodel or redecorate the building, clinic or offices that house your veterinary practice, you will want to keep out-of-pocket expenditures to a minimum and recover as much of the funds spent as quickly as possible. Fortunately, both those veterinarians who own their own buildings and those who lease their property can take advantage of a variety of tax deductions, credits and other tax breaks to achieve those goals.

Any practice that modifies, adapts or adds to the business premises will qualify for a write-off period.

The IRS has the power to recharacterize a related-party transaction.

Every veterinary practice must continue to capitalize the costs of acquiring intangible business assets.

Generally sales taxes apply on the sale of just about anything to just about anyone.

When the Check Clearing for the 21st Century Act, or Check 21 as it is called, was signed into law last fall, few veterinarians noticed.

There is a new option available to every veterinarian, whether seeking health care insurance coverage for themselves and their families or affordable options for the employees of their practice.

There is a new option available to every veterinarian, whether seeking health care insurance coverage for themselves and their families or affordable options for the employees of their practice.

For the second time in two years, our lawmakers have created federal tax cuts designed to spur business investment. However, despite record-low interest rates, affording the funds many veterinarians require in order to acquire the property and equipment to take advantage of those tax cuts has never been harder. Into the breach has stepped the U.S. Small Business Administration.

State and local governments are focusing on stricter enforcement and higher fees to meet budget shortfalls. At the same time, the principals in many veterinary practices are discovering just how much government services cost their practices - and how many of those increasingly more expensive licenses and permits they do not have.

Congress passed and the President signed into law a $330 billion, 10-year tax cut plan that will have a significant impact on the tax bills of every veterinarian - and their practices.

Uncle Sam, in the form of our tax laws, is willing to pick up a portion of the expenses of every veterinarian attending a trade show, meeting or similar event.

The 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.

President George W. Bush signed a long-sought-after economic stimulus package March 9.

President 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.

It may be only a matter of several hundred dollars each year, but over the course of a career, it can add up.

IRS takes special interest in corporate loans to shareholders

The expense of using a portion of your home "exclusively" for business purposes is, as everyone knows, tax deductible.