Death, Taxes and Life Insurance Premiums for Dentists
There are very few certainties now, but we can be certain of the typical things: death and taxes. What about our life insurance premiums? With … more
Taxes
Dental Care Reporting Mandatory While Filing 2023 Taxes
Due to the upcoming Canada Dental Care Plan (CDCP), the CRA has updated the tax filing process to support the transparency of dental care in … more
Episode 3: Tax Planning Tips
Newcom Media Inc · Episode 3 – Tax Planning Tips Subscribe: Read the audio transcript below: Dr. Luisa Schuldt (LS): Welcome to Brush Up, brought … more
How Dentists Can Protect Themselves Against Rising Tax Rates
As a dentist, you’re probably aware of the impact the Income Tax Act has on your life, considering tax is likely your biggest expense. With … 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
Dreaming of Selling? Tax Planning Realities Might Wake You Up
Dental practice values are back up. Everyone’s hounding you to sell. Maybe you’re tired of the daily grind of running a dental practice – especially … 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
The Next Federal Budget Could be a Dentist’s Tax Nightmare: Use it or Potentially Lose it
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 … 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
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
COVID-19 Offers Tax Savings Opportunities
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 … more
Dentists’ Tax Saving Tips & Strategies
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 … more
Year-End Tax Tips To Avoid Tax Headaches In The New Year
It’s that time of year to get in some late minute tax planning before it’s too late. Here are our ten tips for a tax-friendly … more
5 Burning Questions For Dental Students & Associates
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 … more
Former Cambridge Dental Business President Fined $230,000 For Tax Evasion
The president of a Cambridge dental supply business took over $400,000 from the company to pay for maid services, landscaping and cottage renovations, a court … more
April Tax Woes and the Path Forward
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 … more
Dentists in the Crosshairs of New Liberal Tax Announcements
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 … more