Dentists have few ways to control or manage inflation. A major tool that dentists have to fight inflation is their ability to increase productivity and/or use money to buy tools that increase productivity/efficiencies. Dentists who upgrade and enhance their clinical…
As a dentist, it’s very important to choose a financial management team who understands the intricate details of running a dental practice, and all the challenges that come with it. Ideally, the professionals managing your finances will have valuable experience…
Retirement is when you want to spend more time enjoying life than worrying about taxes. That’s why it is important to have the right tax strategy during your retirement years. By understanding how you can lower your tax burden in…
Graduating from dental school is a monumental accomplishment. It is usually accompanied with huge loans/debt ranging from $250,000 – $500,000 depending on if one graduated from a Canadian or foreign school. Panoramic Perspective Consider:Advertisement If you wish to own your…
It goes without saying that the COVID-19 pandemic has been an unexpected and unprecedented period in Canada and beyond. And while you might think that would hinder dental professionals from buying or selling a practice, think again. Over the last…
While you work on your dental practice, you also want to make sure that your money is put in the right place. With the proper plan, you can not only ensure financial security, but also build sustaining wealth that can…
A recent tax court victory for the Davis Dentistry Professional Corporation case has paved the way for dentists and orthodontists to qualify for HST refunds. This doesn’t mean everyone will be getting cheques from CRA, but those offices which have…
It’s been over a year since COVID-19 shutdown the world. The closures left many dentists uncertain about their future and finances. In response, the government introduced several financial vaccines, including the Canada Emergency Business Account (CEBA), Canada Emergency Commercial Rent…
From greater savings to protection, an IPP offers more for Canada’s high-income professionals Most people are familiar with an RRSP (Registered Retirement Savings Plan). While an RRSP is ideal for many, an IPP offers unique advantages for dentists. The IPP…
Covid has resulted in many costly and some argue necessary government programs. Pundits suggest the top 1%, including dentists, will end up paying for these programs. How? Speculation is rife that tax breaks and/or tax rates will rise for this…
Estate planning is not a single, simple task. It can include a wide range of options and actions that you must implement to accomplish your goals. We will highlight some of the key options available to you and then prioritize…
COVID has fundamentally changed how we live and how businesses operate. It has taught us the importance of being resilient and to look for opportunities even in dire situations. As a result of COVID, many dentists have experienced: Working from…
Most dental offices across Canada were severely affected by the pandemic lockdown period. However, although most are doing fairly well in the first 3 months after being reopened, there are lessons learned that are important to prevent future financial crises…
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…
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…
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…
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…
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…
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 –…
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…
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