Topic
Finances

June 15, 2020 News BlogsFinancesPractice management

Hanging Out One’s Shingle: Why COVID Presents a Commercial Real Estate Opportunity for Dentists

by Bob Zariczniak, HBSc, DDS

McDonald’s is famous for inventing (and continuously re-inventing) the fast-food industry. What most people don’t understand, however, is that the majority of their profits isn’t from the burger-flipping business, but from the commercial real estate business. Dentists, although known for…

May 29, 2020 Feature FinancesOral Health OfficePractice management

Re-Opening and Employment Law Obligations: A Q&A for Dental Employers

by Paul Martin, Wilton Martin Litigation Lawyers; Frank Portman, Wilton Martin Litigation Lawyers

As provincial economies begin to re-open in the wake of COVID-19, dental employers are preparing for the re-opening of clinics. However, the re-start of operations brings with it an abundance of employment law issues that must be carefully addressed in…

May 1, 2020 Feature FinancesOral Health OfficePractice ManagementPractice Operations

COVID-19: Maximizing Government Benefits

by David Chong Yen*, CPA, CA, CFP, Louise Wong*, CPA, CA, TEP, Basil Nicastri*, CPA, CA and Eugene Chu, CPA, CA

With COVID-19 shutting down many dental practices across the country, the government has introduced new benefits to help businesses weather this storm. Here is an overview of what’s available for dentists and some ways to optimize the benefits for you…

January 31, 2020 Feature FinancesOral Health OfficePractice management

Planning to Retire: The Most Important Planning of Your Life

by Alex Zlatin, Maxident

1/3 The Experienced Dentist Pocketbook — A Three Part Series Dwight D. Eisenhower said, “In preparing for battle I have always found that plans are useless, but planning is indispensable.”, throughout our adult life, retiring seems fairly far away. It…

January 3, 2020 Feature Finances

Planning for the Next Decade, and Beyond

by Dr. Wilson Chen BSc., DDS, CFP, FMA

Happy New Year! Now that 2020 has arrived, it is a perfect time to reflect on the highlights of the past decade and plan for the future. I realize that planning is likely low on the list of fun things…

November 28, 2019 Feature Dental TeamFinancesOral Health OfficePractice management

Associate Buy-Ins: Why Won’t Those Lips Align?

by Michael Carabash, BA, LLB, JD, MBA, CDPM

Yes. I’m still writing poetry. I hope you liked my other two poems (see Michael Carabash, “A Love Affair: DMC’s 2019 Grenada Dental Mission Trip”, Oral Health Magazine, October 2019). Now, this poem is about the tease. You know –…

November 19, 2019 Feature Dental HygieneDental OfficeFinancesHygienistsPractice Operations

The Business Of Dental Hygiene

by Jodie Cantarelli AAS, RDH, Dip.AdEd

As a practicing dental hygienist, I focused on the delivery of patient-centred care, avoided the financial and operational aspects of a dental practice, and had no need for business acumen. Over time working in dental clinics, my interests and horizons…

October 31, 2019 Feature Dental FAQDental StudentsFinancesNew dentistsNew gradsOral Health

5 Burning Questions For Dental Students & Associates

by Melanie Langevin, CPA, CMA

Dental students and associates are a busy bunch. With long hours and a hectic schedule, figuring out your tax filings can slip down your priority list. This group typically asks about five topics: deductions against your income, moving expenses, impact…

October 31, 2019 Feature Dental StudentsFinancesNew dentistsNew gradsOral Health

Road Map To Being Debt-Free

by David Chong Yen, Louise Wong & Eugene Chu

Graduating from dental school can be bittersweet. You’ve climbed the mountain that is dental school and at the summit you find a taller mountain of debt and an avalanche of interest and bills to come. That’s the harsh reality for…

August 1, 2019 Feature FinancesOral Health OfficePractice management

Client Retention Takes Centre Stage Amid Market Uncertainty

by Tim Dawson, CPA, CA

With rising interest rates, a stagnating economy, significant tax rule changes for professional corporations and increased revenue pressures, 2018 was another low point in a string of troublesome years for Canadian dental practitioners. No single event more clearly echoed the…

July 8, 2019 News BlogsDentistryFinancesGeneral PracticeOffice Management

Investing To Maximize Your Sales Value

by Shawn Peers, Dental Peers

There comes a time in the life of every dentist/owner when the moment to sell their practice is upon them. It can be a difficult decision. Your practice is “your baby”…your life’s work. For most, it will be their most…

May 2, 2019 Feature FinancesOral Health OfficePractice managementPractice Management

Preparation is Key to Achieve Your Retirement Goals

by Lana Sanichar

Beep beep beep. You reach over and push the snooze button. Beep beep beep. This time you reach over and slap it. When you wake up half an hour later, you realize that you’re late for work! Panic sets in.…

March 31, 2019 Feature FinancesOral Health OfficePractice management

April Tax Woes and the Path Forward

by Nick Korhonen, MNP

April is here – and so is tax time. It’s when we’re all reminded of our civic duty to contribute to society through taxes, which often leaves our wallets feeling a little lighter as we pass the April 30 tax…

March 1, 2019 Feature FinancesOral Health Office

Preventing Retirement Income Decay Like You Prevent Tooth Decay: The Personal Pension Plan

by Jean-Pierre A. Laporte, BA, MA, JD; Yaron Orgil, CIMA®, FCSI®

The business community, including dental professionals and other incorporated professionals were shocked by the tax measures introduced on July 18, 2017 by the Federal Government. The package of reforms aimed at closing perceived loopholes relating to Canadian Controlled Private Corporations…

January 3, 2019 Feature FinancesOral HealthPaediatric DentistryPractice management

Good News for Dentists: 2018 Economic Outlook

by DCY Professional Corporation Chartered Professional Accountants

Tax and Business Measures Federal Accelerated Investment Incentive – Dentists will be allowed to write-off capital assets (i.e. equipment, leaseholds, computers, software etc.) faster for purchases made after November 20, 2018. Provincial Proposed new Low-Income Individuals and Families Tax Credit…

February 28, 2018 Feature FinancesOral Health Office

Investment Rules for a Successful Retirement

by Dr. Wilson Chen, BSc., DDS, CFP, FMA

We are still in the first quarter of 2018 and already we’ve seen enough stomach churning volatility in the stock markets to last the whole year. The month of January was euphoric, with both the Canadian and US market indexes…

March 23, 2017 Feature Dental OfficeFinances

Are You Sabotaging Your Retirement?

by Dr. Wilson Chen, BSc., DDS, CFP, FMA

Humans are emotional beings. They have survived and thrived through the centuries by trusting their gut instincts, regardless of the prevailing logic. These deep-rooted behaviours have helped in many instances but have also become a burden in important situations. The…

March 23, 2017 Feature Dental OfficeFinances

Investor Dentists™ and the Return on Investment (ROI)

by Timothy A. Brown

Our firm was recently asked by a bank to measure the return on investment of an Investor Dentist™ acquisition. Specifically, they wanted to know the annualized Return on Investment (ROI) for the absentee owner (hands-off) dental practice investment model. This…

March 14, 2017 Video FinancesPractice Operations

3 Factors to Consider When Buying a Practice

by Oral Health

Account Manager, Eugene Chu, talking about buying a dental practice in this week’s Best Practices video. Eugene gives the 3 factors you MUST think about if you’re buying a dental practice. He’ll go into great detail about WHY Billing, Chart…

March 7, 2017 Video DentalFinances

The 411 on Student Debt

by Oral Health

Wilson Chen takes us through another video discussing student debt – something we’re all too familiar with. In this edition of Best Practices – Financial Management, we get a lesson in the stock market, and it could be a beneficial…