Financial Tips for the Holiday Season for Dental & Healthcare Practice Owners
The holiday season is here — which means it’s time to balance celebration with smart financial planning. Between year-end expenses, bonuses, and patient scheduling changes, now is the perfect time to review your numbers and step into 2026 with confidence.
Here are eight financial tips to help your practice finish the year strong:
1. Set a holiday budget.
Plan ahead for extra expenses such as team bonuses, holiday gifts for staff or patients, or year-end appreciation events. Setting a clear budget helps your practice stay festive without overspending — and keeps your financial goals on track.
2. Track your cash flow closely.
Holiday spending and reduced patient schedules can throw off your cash flow. Monitor income and expenses weekly so you can stay proactive with payroll, supplies, and other overhead costs.
3. Take advantage of deductions.
Employee gifts, team meals, continuing education, and end-of-year purchases may all qualify as deductible business expenses. Just remember to keep receipts and ensure expenses are ordinary and necessary for your practice.
4. Review outstanding invoices.
Follow up on unpaid insurance claims, patient balances, or vendor invoices before the holidays. Getting payments in before year-end helps boost cash flow and positions your practice for a smoother start to the new year.
5. Manage your inventory.
Take stock of supplies and materials — from dental composites to medical consumables — to see what’s running low or not moving. This helps you avoid overordering and take advantage of year-end bulk discounts where appropriate.
6. Plan for vacation coverage.
If you or key team members are taking time off, ensure schedules, on-call duties, and patient communication plans are clear. Good planning prevents disruptions and ensures a seamless experience for patients.
7. Work closely with your bookkeeper or accountant.
Your bookkeeping partner can help you tidy up your books, review year-end financial reports, and prepare for tax season. This is also the perfect time to discuss tax strategies like equipment purchases or expense acceleration before December 31.
8. Plan ahead for taxes.
Don’t wait until January to think about taxes. Review your books, set aside funds for Q4 estimated payments, and ensure your W-2s and 1099s are in order. A little organization now prevents a lot of stress later.
Need help preparing your practice’s books before year-end?
Kirk Business Solutions specializes in bookkeeping and advisory for dental and healthcare practice owners. Let’s make sure your numbers are accurate, compliant, and optimized before 2026 begins.
