Internal controls are systems and procedures put into place within an organization to safeguard assets, prevent fraud, ensure accuracy and compliance, and support operational efficiency. A strong system of internal controls is essential for your practice to thrive and remain financially healthy. This article highlights important internal control strategies and

As we approach the end of 2025, veterinary practices should consider what needs to be accomplished before December 31 for planning purposes. December is a critical time to tie up any loose ends, double-check your financial reporting, and take steps to reduce your tax liability for the current year. Below

Believe it or not, we’re once again nearing the end of the tax year. With December fast approaching, we want to emphasize the need for timely year-end tax planning and cash management. These two components of financial management work together to support your business and personal goals. Let’s go over

Many small businesses, including veterinary practices, utilize cash basis accounting for their financial records. Cash accounting provides the benefits of simplicity, a real-time view of the business’s cash flow, and greater control over recorded income for tax purposes. However, accrual basis accounting offers a more accurate representation of a practice’s

According to the American Veterinary Medical Association (AVMA), “thirty-nine percent of graduating veterinarians reported having debt between $200,000 and $400,000 in 2024, with just under 16.6% having no debt at all. However, the same percentage (16.6%) of last year’s veterinary graduates had educational debt of $300,000 or higher.” Between tuition,

Last updated on July 24th, 2025On July 4, the president signed into law the One Big Beautiful Bill Act (OBBBA), implementing many significant tax and spending policy changes. The law’s provisions are wide sweeping and will have impacts across a range of industries. This article highlights some of the key

Last updated on July 3rd, 2025The mobile veterinary service industry has seen a surge in popularity in recent years, largely due to the convenience it offers clients and the flexibility it provides for veterinary professionals. This flexibility includes the ability for businesses to extend their services to clients outside of

According to a recent article by the American Animal Hospital Association (AAHA), some of the primary challenges facing veterinary practices in 2025 are economic uncertainty due to inflation and other economic pressures, declining patient visits, and staffing shortages. Amid economic uncertainty, veterinary practices must concentrate on the factors within their