Dr. Jake Latimer | Doctor in Business - Finance, MST, MBA | Blueprint Advisors | Tax strategy & CFO advisory | The Woodlands/Houston
The Woodlands, TX
Joined December 2022
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Netflix lost about 800K U.S. members in Q3 2011 (their SEC-filed shareholder letter) after changing plans and price. Lesson for practices: test a fee change on paper before patients feel it.
medium.com/@jakemlatimer/gro…
#Pricing #CFO
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Buying a practice? Under IRC §1060(a), a written price allocation between buyer and seller binds both of you. Negotiate it, don't wing it.
medium.com/@jakemlatimer/pra…
#TaxTips #PracticeSale
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Lunch break thought: half my stress comes from stuff I said I'd do and haven't scheduled.
youtube.com/watch?v=O1zPeE7f…
#Focus #Mindset
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Practice owners: what did you underestimate most in your first year?
medium.com/@jakemlatimer/hir…
#PracticeOwners #Dentists
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Case study I keep coming back to: in its FY2005 10-K, Dell collected from customers in ~32 days and paid suppliers in ~73. That gap funded growth. We hunt for the same gap in practices.
medium.com/@jakemlatimer/wor…
#WorkingCapital #CFO
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Marketplace open enrollment opened Nov 1. On HealthCare.gov, pick a plan by Dec 15 for a Jan 1 start; the window closes Jan 15. Self-employed? Your premiums may be deductible, capped at your business earned income. #OpenEnrollment #SelfEmployed
medium.com/@jakemlatimer/hea…
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Tuesday energy: finish the thing you started Monday.
youtube.com/watch?v=1T3LZAV_…
#Leadership #Focus
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S corp return late? IRC §6699 charges a penalty per shareholder, per month, up to 12 months. Even if no tax is owed. File or extend.
medium.com/@jakemlatimer/how…
#TaxTips #SCorp
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Cash in the bank on Friday tells you about Friday. A forecast tells you about March.
medium.com/@jakemlatimer/you…
#Forecasting #CFO
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Early alarm, same routine, no drama. That's most of the secret.
youtube.com/watch?v=_BzJpDhW…
#Discipline #Habits
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Honest one: what number in your business do you check first every morning?
youtube.com/watch?v=4MthAZfV…
#SmallBusiness #Owners
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Spent money getting the practice ready to open? IRC §195(b) lets you elect to deduct some start-up costs in year one and amortize the rest. Keep the receipts.
medium.com/@jakemlatimer/ent…
#TaxTips #Startups
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Nobody films the 2 a.m. invoice cleanup. It still builds the company.
youtube.com/watch?v=g2mqWkiJ…
#Grit #Entrepreneur
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Your margin isn't what the P&L says if you haven't paid yourself a real salary yet.
medium.com/@jakemlatimer/pay…
#Profit #CFO
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Midnight and still thinking about the business. Fine. Just don't make big decisions at this hour.
youtube.com/watch?v=tc3OgtBh…
#Founders #Mindset
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If payroll week still makes your stomach drop, the fix is a forecast, not a bigger month.
medium.com/@jakemlatimer/you…
#CashFlow #CFO
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Took Sunday off and the business survived. Turns out that was the test.
youtube.com/watch?v=O1zPeE7f…
#Rest #Mindset
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A buyer pays for what runs without you. Start writing things down.
medium.com/@jakemlatimer/bui…
#ExitPlanning #CFO
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Business meal deductions: IRC §274(k)(1) needs it to not be lavish, and you or an employee has to be there. Note who and why.
medium.com/@jakemlatimer/yea…
#TaxTips #Deductions
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Overhead creeps in one small yes at a time. Review the subscriptions quarterly.
medium.com/@jakemlatimer/you…
#Overhead #CFO
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