Recording
20200929 TDC Information Systems and Client Practice Flowchart
Notes
20200929 TDC Principals
- Quality Improvement Check-Ins
- Dave, Judy, Jared, Joe, Haden, Nick, Travis, Brett, Carson
- Accounting [Jared] (now highest priority)
- Upcoming client review meetings
- Friday October 2
- Nunnery
- Martenson and Macdonald
- Friday October 9
- Knight
- Monday October 19
- Stephenson
- Tuesday October 20
- Hoch
- Ford
- Wednesday October 21
- Marcus
- Thursday October 22
- David Bo
- Friday October 23
- Wright
- Gosavi
- Friday October 30
- Ching
- Friday October 2
- Sending emails to clients
- Need personal spending
- Complement view of practice finances
- Travis: most difficult part of getting ready for meeting is getting data from clients
- Barry: clients don’t track spending
- If they do respond: Travis in meeting?
- Upcoming client review meetings
- Marketing [Haden]
- Success with tax and insurance (SFDS, NSDS) workshops
- Upcoming study groups (Tim Miller, Gibbs/Keith)
- Haden: wealth management topic (Shannon – “When Can You Afford to Retire?”)
- Shannon expressed an interest in growing and facing clients (in performance review conversations)
- Keep the focus on wealth management – create the money they need and save for retirement
- Delta Dental: choice points need to be studied (renegotiate PPOs, exit PPOs, work harder/longer/defer retirement, sell practice) – how do they affect Monte Carlo simulations
- Jared – client practice is 50% Delta. Has an associate coming in. If she bills associate properly, she will lose Delta Premier.
- Haden: associate subject to lower PPO fees
- Providers can go online to Delta portal and see what PPO fees will be
- Haden: should bill under associate’s NPI and owner’s tax ID number
- JB: I think if you add associate, the owner has to take PPO patients and rates from Delta network
- Haden client (pediatric dentist named Cindy Weideman, have large practices in Sacramento and Roseville) got audited, billing had to be by provider, a year later got letter firing them from Delta.
- Joe: that was months ago – what has their experience been? Haden: they stayed out of network and it’s going OK.
- Jared client – JB to email workshop link
- Payroll [Carson]
- In-Service training for firm to cross-sell Payroll
- HR / Finance [Joe]
- Tax Manager training curriculum
- Topic areas for SMEs (see Brett document)
- Partnerships
- Trusts
- Sub-S Corps
- Simple returns
- Practice Transitions
- Public Traded Partnerships (PTPs)
- K1s are a headache
- Incentive Stock Options (e.g. spouses)
- Employing spouse and children
- Maximize retirement plan, 401k
- Can get audited for child (Shawn has seen 1)
- Sole Proprietor
- Analyze versus being incorporated
- Roth IRA conversions
- Section 199A
- Augusta Rule
- Topic areas for SMEs (see Brett document)
- Tax Manager training curriculum
- Wealth Management [Barry]
- Connect EVOKE to Needs/Wants/Wishes
- BAM DBP acronym (design, build, protect) – available to TDC. EVOKE like and CEG/Bowen like. Rollout timing – now?
- Travis attended Foundations 1 with AJ at Buckingham. Different from a few years ago. Here they taught Design Build Protect. Brought in MoneyGuide Pro for building the plan; meeting management.
- Barry: working on refinements. Full on with training.
- IT / Tax [Dave]
- Ticket system. Microsoft Lists?
- Pension