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
Finances
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
Tax Deferral Options on Sale of a Practice
An important consideration during the sale of a practice is the amount of taxes arising from realizing a capital gain – the underlying asset primarily … 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
COVID-19 Government Benefit – Update
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 … 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
Three-Quarters of Dentists, Optometrists Worried About Financial Viability: CFIB
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, … more
Addressing Financial Challenges as You Begin Re-establishing Your Dental Practice
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 … more
Government Help for Business Owners During Covid-19: A Summary
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 … 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
Planning to Retire: The Most Important Planning of Your Life
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 … more
Road Map To Being Debt-Free
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 … more
Investor Dentists™ and the Return on Investment (ROI)
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 … more
3 Factors to Consider When Buying a Practice
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 … more
The 411 on Student Debt
Understanding your student debt from dental school is one thing, but do you understand what to do with it? Wilson Chen takes this video to … more
Top 2 Tips for Buying a Dental Practice
In this financial video, David Chong Yen, chartered accountant, talks about two of his biggest tips when buying a dental practice: 1. Synergy and 2. … more
5 Tips to Avoid Financial Stress
Are you a dentist suffering from financial stress? Want learn how to handle it better? As a dentist, everyone around you will know that you … more