Episode #
63
Mastering Financial Resilience in Veterinary Practices in 2025
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In this insightful episode, we dive deep into strategies for mastering financial resilience in veterinary practices for 2025. Joined by expert panelists Michelle, Martin, and Jimmy, we explore key topics such as tax planning, leveraging data for better financial outcomes, managing growth initiatives, and the latest in tech innovations for veterinary businesses. Whether you’re a practice owner or a veterinary professional, this episode equips you with actionable insights to optimize your financial strategies and thrive throughout the year.
Key Takeaways:
- Tax Planning Tips:
- Utilize Section 179 for asset purchases to maximize deductions.
- Efficient inventory management helps improve cash flow.
- Retirement planning can enhance employee retention.
- Data and Analytics:
- Focus on 4-6 key metrics rather than over-measuring.
- Benchmark performance against personal goals rather than industry standards.
- Growth and Stability:
- Assess ROI before investing in equipment or services.
- Strategic budgeting and regular review of financial goals are critical.
- Emerging Technology:
- Leverage AI and automation tools for financial and operational efficiency.
- Tools like inventory management systems can significantly reduce overhead.
- Client Retention:
- Communication tools and marketing automation enhance client satisfaction and loyalty.
- Outsourcing:
- Engage professionals to manage specialized tasks, such as financial planning and marketing.
Listen to this Episode on
Timestamp
- 00:00 – Introduction: Overview of the episode and expert panel introductions.
- 05:49 – Tax Planning Opportunities: Michelle shares strategies for 2025 tax savings.
- 09:33 – Leveraging Data: Martin discusses how to use data for better financial decisions.
- 15:19 – Balancing Growth and Stability: Jimmy provides insights on ROI and strategic growth.
- 21:43 – Navigating Tax Regulations: Michelle outlines best practices to avoid pitfalls.
- 33:15 – Budgeting for Success: Jimmy offers a step-by-step guide to effective budgeting.
- 45:03 – Emerging Tech Trends: Martin highlights AI and automation tools for practice efficiency.
- 47:31 – Reducing Overhead Costs: Jimmy emphasizes staff retention and outsourcing.
- 52:23 – Aligning Financial Structures with Growth Goals: Michelle suggests strategies for long-term resilience.
- 59:00 – Closing Remarks
Michelle Musacchio, CPA, MT
Principal and Founder, Fit Money CPA
Michelle is the Principal and Founder of Fit Money CPA, where she passionately guides business owners through the financial, strategic, and organizational frameworks essential to building a thriving business. Her goal is to provide clients with the insights and tools to operate with confidence and achieve remarkable growth.
With a CPA designation and a Master’s in Taxation from the University of Denver, Michelle specializes in delivering impactful tax solutions, including significant tax savings through thorough research and adept negotiation. Her expertise has enabled clients to optimize their business structures, from corporate buy-outs and pay scale restructuring to selecting the most advantageous business entity—each step aligning business activities more closely with the owner’s values and vision.
Michelle brings extensive experience in public accounting and tax from her time with Deloitte and Touche, as well as Cotton and Allen, before founding Fit Money CPA in 2008. A native of Louisville, she remains an active community volunteer and is a proud member of the American Institute of Certified Public Accountants and the Kentucky Society of CPAs.
Outside of her professional life, Michelle enjoys cycling, cooking, and spending time with her cats.
Key Expertise:
- Tax Planning
- Tax Preparation
- IRS Representation
- Financial Accounting
- Bookkeeping
- Full-Service Payroll
- Strategic Business Consulting
Jimmy Bell, CPA
Founder & Visionary, CPAs for Veterinarians / JF Bell Group
With over 35 years of experience, Jimmy Bell is the founder of a niche accounting, coaching, and consulting firm dedicated exclusively to serving veterinarians across the United States. His extensive expertise in accounting, financial strategy, and practice management empowers veterinary professionals to achieve their financial goals.
Jimmy is deeply committed to the veterinary industry, actively participating in continuous learning and contributing to the field. He frequently attends and presents at prestigious national veterinary conferences, including VMX and FETCH, and offers CE-quality programs at various industry-sponsored events. His leadership extends to serving on the American College of Veterinary Internal Medicine (ACVIM) Finance, Investment, and Audit Committee, as well as holding an appointment from Idaho Governor Butch Otter to the Idaho State Board of Accountancy. He is also a past president of the Idaho Association of Public Accountants.
When he’s not supporting his clients, Jimmy enjoys traveling, engaging in outdoor activities, spending quality time with friends, and flying planes. He lives by the motto: “Every day is a new day—control the controllable and enjoy life!”
Top Skills:
- Accounting
- Income Tax
- Financial Analysis
Martin Traub-Werner
Founder & CEO, VetBooks
Martin Traub-Werner’s journey as an entrepreneur and business leader began at the age of seven when he dressed up as a businessman for Halloween. Over the last four decades, Martin has honed his skills in strategic human resources, relationship marketing, and creative problem-solving, working across both small businesses and Fortune 500 companies.
Martin completed his Bachelor of Arts in Economics and Spanish at York University in Toronto, Canada, followed by a Master’s degree in Industrial and Labor Relations (MILR) from Cornell University. His early career was marked by significant roles in human resources, including at Avery Dennison Corporation, where he contributed to a global HR team, and Liberty Mutual, where he consulted with senior leaders on strategies for operational improvements and customer experience enhancement.
Driven by a passion for building and innovating, Martin founded VetSuccess in 2013, creating the veterinary industry’s first business intelligence and data analytics platform. VetSuccess was acquired by Vetsource in 2018, where Martin then served as Vice President and General Manager of Data and Platform Technologies, focusing on leveraging data and technology to solve complex challenges for veterinary practices. In 2022, Martin transitioned to focus on VetBooks, a company he co-founded in 2017 to deliver specialized bookkeeping solutions for veterinary practices, bringing financial discipline and insights to support independent veterinary clinics.
In addition to his entrepreneurial ventures, Martin is an active volunteer with RISE Asset Development, serving on the loan review committee and mentoring emerging entrepreneurs. Fluent in Spanish, Martin brings his skills in relationship management to every client engagement, helping businesses achieve their objectives through effective process automation, CRM, and database marketing.
Currently based in Nanaimo, British Columbia, Martin lives with his wife, Tamara, their two teenagers, and their beloved Texas street dog, Austin.
Specialties:
- Relationship Marketing
- Process Automation
- Feedback Management
- Sales and Marketing Integration
- CRM and Database Marketing
