Where should leased cars paid by the practice be recorded?
Include the cost of leased autos in doctor compensation. Q: Our optical is practice owned, do I report the doctor’s share of the optical profits? A: No, exclude optical compensation from total ophthalmologist clinical compensation and total clinical net revenue. You might need to take the doctors W-2 (which includes their share of the optical profits) and subtracted out an approximation on what their optical shop net revenue was for each doctor. Q: The practice owner made an interest-free loan to the practice. The practice paid back the loan. Do I record this amount in total ophthalmologist compensation? A: No, this loan should not be recorded anywhere on the survey. If the practice owner had charged interest, the interest expense should be recorded in operating expenses. Q: Our setup includes an S corporation for the practice and real estate partnership that owns the ophthalmology related facilities. Should I include the distribution from this partnership in owner compensation? A: No,
Include the cost of leased autos in doctor compensation. Q: Our optical is practice owned, do I report the doctor’s share of the optical profits? A: No, exclude optical compensation from total ophthalmologist clinical compensation and total clinical net revenue. You might need to take the doctors W-2 (which includes their share of the optical profits) and subtracted out an approximation on what their optical shop net revenue was for each doctor. Q: The practice owner made an interest-free loan to the practice. The practice paid back the loan. Do I record this amount in total ophthalmologist compensation? A: No, this loan should not be recorded anywhere on the survey. If the practice owner had charged interest, the interest expense should be recorded in operating expenses. Q: Our setup includes an S corporation for the practice and real estate partnership that owns the ophthalmology related facilities. Should I include the distribution from this partnership in owner compensation? A: No,
