Why Recession-Proof Your Practice Now?
Did you know that the price of a box of mac and cheese was about $0.99 before COVID and is now $2.50? The price of … more
Finances
Eight Traits of Successful Dentists
Dentists are facing what many perceive to be unprecedented times. Raging inflation, 8.1%, as of June 2022, vs. 1.1% in February 2021 and 11.91% in … more
Surviving and Thriving in a Challenging Market
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 … more
How Much Do I Need to Retire?
Dentists want to know their Financial Independence Target (FIT#TM) ‘How much do I need to retire?’ is a common question we are frequently asked at … more
9 Questions Dentists Should Ask Their Financial Management Team
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 … more
7 Smart Strategies for Dentists to Pay Less Tax in Retirement
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 … more
Financial Realities After Dental School & Six Principles to Follow
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 … more
Tax Court Win Means Dentists Can Qualify for HST Refunds
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. … more
Canada Emergency Wage Subsidy: A Financial Vaccine With a 90% Success Rate
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 … more
Weekly Wisdom: Buying New vs Existing Practices
In this episode of Weekly Wisdom, David Chong Yen CPA, CA, CFP discusses kinetic vs static energy and how the concept relates to the business … more
Weekly Wisdom: Should You Buy Your Practice or Your Home First?
In this episode of Weekly Wisdom, David Chong Yen CPA, CA, CFP shares what you should be prioritizing from a financial perspective. Should you buy … more
Weekly Wisdom: The Value of Failing
Weekly Wisdom: David Chong Yen shares the message that “the cost of fearing to fail is much greater than the lessons learned from failing.” … more
Estate Planning for Dentists
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 … more
Tax Deductions, Breaks and Planning in the COVID-19 Era
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 … more
Weekly Wisdom: Decision Making
In this week’s episode of Weekly Wisdom, David Chong Yen returns to discuss what to keep in mind when making major decisions for your practice. … more
Weekly Wisdom: How to Maximize Profits
In this week’s episode of Weekly Wisdom, Alex Zlatin gives financial advice and reveals the truth behind increasing your revenue and eliminating expenses. … more
Weekly Wisdom: Bet on Yourself!
In this week’s episode of Weekly Wisdom, David Chong Yen, CPA, CA, CFP tells us why you should always be betting on yourself as … more
The Financial Future of Your Practice
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 … more
Claiming Car and Home Office Expenses in the COVID-19 Era
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 … more
Preparing Your Dental Practice For Sale: Retirement Readiness
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, … more