Physicians and medical practices carry a specific set of accounting challenges: high income that makes tax planning genuinely worth the effort, equipment and facility costs that need the right depreciation treatment, and staffing and payroll complexity that grows with every new hire. Epsilon Accounting Solutions works with independent physicians and small practices throughout Edmond and the OKC metro on all of it, not just the annual tax return.
Where We Help Most
- S-Corp or PLLC structuring for physicians weighing entity options and the self-employment tax savings that come with the right choice.
- Equipment and facility depreciation, including Section 179 elections for major purchases like imaging or diagnostic equipment.
- Retirement plan strategy, whether that’s a Solo 401(k), a SEP IRA, or a defined benefit plan for higher earners looking to shelter more income.
- Practice payroll, including physician and staff compensation structuring across different roles.
- Multi-partner practice accounting, including partner distributions and buy-in or buy-out transactions as ownership changes.
What We Provide
- Monthly bookkeeping and financial statements for your practice
- Physician and practice tax preparation
- S-Corp formation and ongoing tax planning
- Payroll for physicians and support staff
- CFO-level guidance on practice growth and major equipment decisions
The Cost of Generic Bookkeeping in Medicine
A practice that gets treated like any other small business tends to miss the strategies that actually apply to medicine: retirement plans sized for high earners, depreciation on six-figure equipment, and entity structuring that accounts for both the practice and the physician’s personal tax situation at once. Those gaps rarely show up as an obvious problem. They just quietly cost money every year until someone looks closely enough to catch them.
We also coordinate closely around the timing of major purchases, whether that’s new diagnostic equipment or an office expansion, so the depreciation and cash flow impact land in the year that actually benefits your practice rather than being locked in by default.
If your current accountant treats your practice like any other small business, it’s worth a conversation. Call (405) 458-8949 or schedule a consultation.