CPA for Medical Practices in NJ

A CPA who understands the business of practicing medicine.

Accounting, proactive tax planning, and advisory built specifically for NJ physicians, dental practices, and healthcare groups—from solo practitioners to multi-provider partnerships.

Healthcare is the engine of the Morris County economy—it employs more people here than any other industry, and the region’s pharmaceutical and medical corridor runs deep. But the same expertise that makes you excellent at patient care doesn’t extend to reasonable-compensation rules, equipment depreciation, or the maze of entity choices for a growing practice. That’s our job.

Shree Accounting works with medical and dental practices and the professionals who run them. We handle the books and filings, and—more importantly—we build the year-round tax strategy that keeps more of your hard-earned income in your hands.

What we do for practices

Practice accounting & payroll

• Monthly bookkeeping built around insurance-reimbursement cash flow
• Payroll for providers, associates, and staff—plus benefits coordination
• Accounts-receivable and collections reporting you can actually act on
• Financial statements ready for lenders, partners, or a practice sale

Tax strategy for practice owners

• Entity structure: PC, PLLC, S-Corp election, and group structures
• Reasonable-compensation analysis for S-Corp practice owners
• Section 179 & bonus depreciation on equipment and build-outs
• Retirement plan design (Solo 401(k), defined benefit) to shelter income
• NJ BAIT election to work around the federal SALT cap

Physician personal planning

• Coordinating W-2, 1099, and practice-ownership income into one strategy
• Managing high marginal rates, NIIT, and estimated payments
• Student-loan and locum-tenens tax considerations for early-career physicians

Equipment and build-outs are a planning opportunity, not just an expense. A new imaging system, operatory, or office renovation can often be largely deducted in the year you place it in service through Section 179 and bonus depreciation. Timing those purchases against a high-income year can produce real savings—if it’s planned before you buy, not after.

Equipment and build-outs are a planning opportunity, not just an expense. A new imaging system, operatory, or office renovation can often be largely deducted in the year you place it in service through Section 179 and bonus depreciation. Timing those purchases against a high-income year can produce real savings—if it’s planned before you buy, not after.

Who we work with

Solo and group physician practices, dental and orthodontic offices, specialists (dermatology, cardiology, orthopedics, and more), behavioral health practices, and allied-health providers across Morris County and New Jersey. Whether you’re launching your first practice or preparing one for sale, the tax and structural questions are different at every stage—and we plan for the stage you’re actually in.

Common questions from practice owners

Should my practice be an S-Corp?

Often, yes—once net profit is high enough, an S-Corp election (via a PC or PLLC) can reduce self-employment tax through a reasonable-salary-plus-distributions split. We model the break-even, including the reasonable-compensation requirement the IRS scrutinizes for medical practices, before recommending it.

Can I deduct new equipment in the year I buy it?

Frequently, yes, through Section 179 and bonus depreciation—subject to limits and how the item is financed. The key is planning the purchase timing against your projected income, which is exactly the kind of move we map in a mid-year review.

I’m a 1099 physician with some W-2 income. How should I handle taxes?

Mixed comp is common and very manageable with planning. We coordinate your withholding, estimated payments, retirement contributions, and any home-office or business deductions so the pieces work together rather than against each other.

Do you work with practices outside Morris County?

Yes—we serve medical and dental practices throughout New Jersey, with deep roots in the Morris County healthcare corridor.

This article is general information, not tax advice, and tax rules change. Consult a qualified CPA about your specific circumstances.