Oral Health Group


The Financial Future of Your Practice
October 30, 2020 Feature FinancesOral Health OfficePractice management

The Financial Future of Your Practice

by Janice Wheeler, The Art Of Management Inc.

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

October 26, 2020 News DentistryNews

Claiming Car and Home Office Expenses in the COVID-19 Era

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

In the past, our clients have frequently enquired about claiming tax deductions for car expenses and home office expenses. Let’s review how the COVID-19 pandemic may affect these potential tax deductions for you. If you are not yet incorporated (i.e.

August 11, 2020 Video Sponsored Dental Video

Paid Preparing Your Dental Practice For Sale: Retirement Readiness

by Oral Health

Episode 6 of 6  For most dentists, the sale of their practice will probably be the single largest financial transaction of their professional lives. And, the most complex because of the numerous tax, legal and emotional aspects involved, in addition

July 22, 2020 News DentistryNews

COVID-19 Government Benefit – Update

by DCY

We would like to provide you with an update on changes to the Canada Emergency Wage Subsidy (CEWS). The following changes are based on the government’s legislation on July 21, 2020: WHAT CHANGES WERE ANNOUNCED? EFFECTIVE JULY 5, 2020, CEWS

July 3, 2020 News News

COVID-19 Offers Tax Savings Opportunities

by DCY Professional Corporation Chartered Professional Accountants

UTILIZE TAX LOSSES Tax losses generally fall into two categories: non-capital losses and capital losses. Non-capital losses arise from normal business operations (i.e. where deductible dental practice expenses exceed dental revenues). Capital losses arise when you sell assets such as

July 3, 2020 News DentistryNews

Three-Quarters of Dentists, Optometrists Worried About Financial Viability: CFIB

by Calgary Herald

Private-sector health professionals such as dentists, optometrists and naturopaths have been hit hard by COVID-19 and remain deeply worried about the future of their businesses, according to new research from the Canadian Federation of Independent Business. The CFIB surveyed businesses

June 12, 2020 News NewsOral Health

Addressing Financial Challenges as You Begin Re-establishing Your Dental Practice

by MNP

While the COVID-19 pandemic had been keeping practices shuttered, dentistry is now re-opening in Canada. Many practice owners are worried about how restarting their practice might look from a financial perspective. Now is the time to consider steps that will

April 7, 2020 News News

Government Help for Business Owners During Covid-19: A Summary

by Michelle Schriver, Advisor's Edge

The federal government is rolling out a massive aid package for businesses affected by Covid-19, including billions in wage subsidies and credit. See the table below for a summary of the programs available to business owners during the pandemic. The

April 3, 2020 Feature Oral Health OfficePractice Management

Dentists’ Tax Saving Tips & Strategies

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

1. Sharing is Caring/Saving Use family members in the tax savings game. Many dentists have a dentistry professional corporation (DPC). DPC’s if structured appropriately facilitate “sharing of income”. Family members may be eligible to receive dividends provided they work 20

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

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

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

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

July 25, 2017 News DentistryGovernment regulationsNews

Dentists in the Crosshairs of New Liberal Tax Announcements

by DCY

The federal government has sent another warning shot to dentists and other professionals who have been using private corporations (PC) such as professional corporations/ hygiene service corporations /technical service corporations and holding corporations as a tax savings vehicle. Below are

June 16, 2017 Video Sponsored Dental Video

Paid Building Dentists’ Wealth from TMFD Financial

by Oral Health

Howard J Atkinson with Tax Matters for Dentists Financial spoke with Oral Health Group at the ODA’s ASM150 about their company, their services and how they’re helping dentists build wealth. Find out more about what TMFD has to offer for

June 1, 2017 Feature Dental HygieneEmbezzlement

Embezzlement – What Every Brilliant Clinician Should Know

by David Harris and Wendy Askins

You believe you have been blessed with the dream employee! This person has stood closely beside you for years, fighting for the success of your practice, arriving early and staying late and refusing to take vacations because the practice simply

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

Investor Dentist
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