Purtzki, Johansen + Associates

Dentists

We have served the dental profession for more than 40 years and know what it takes to establish and maintain a thriving practice.

Whether you are just starting your career, are established and looking for ways to increase revenue and decrease expenses, or are planning to retire, we can be of assistance.
Our business advisory services include:

  • Dental Practice Management
  • Systems & Facilities Evaluation
  • Tax & Accounting
  • Bookkeeping Services
  • Valuation of Practice
  • Practice Transition Services
  • Practice Marketing Services

We evaluate your current systems, procedures and facility management to measure efficiency and effectiveness to optimize your income. We offer industry comparison reports, so you can measure your practice’s performance against other practitioners.

For more information about practice sales and transitions, visit:

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  • What a tax audit will most likely focus on (3/24/2021) - Here is a shortlist of common tax mistakes which trigger reassessments. Automobile expenses When claiming auto expenses, you need to provide evidence supporting the auto expense allocation between business and personal use. The tax auditor will ask for a logbook that tracks the extent of your business driving. If you… Continue Reading
  • The BC Small Business Recovery Grant (3/24/2021) - On March 4, 2021, B.C. updated the eligibility for the Business Recovery Grant. This grant ranges from $10,000 to $30,000, depending on the size of your business. It is based on pre-COVID annual revenues as follows: Pre-COVID annual revenue Grant amount Up to $100,000 $10,000 $100,001 to $1,000,000 $15,000 $1,000,001… Continue Reading
  • The one-time, tax-free payment of $1,000 for B.C. Residents (3/24/2021) - The B.C. Recovery Benefit is a one-time, tax-free payment of: $1,000 for families with incomes under $125,000. Families earning up to $175,000 will qualify for a reduced benefit amount. Single-parent families also qualify for these benefit amounts. $500 for single people earning less than $62,500. Single people earning up to $87,500… Continue Reading
  • The PST Rebate on Equipment Purchases (3/24/2021) - The British Columbia government will allow incorporated professionals and other businesses to apply for a 100 per cent rebate of PST paid between September 17, 2020 and September 30, 2021 (“Eligible Time Period”) on purchases or leases of select machinery and equipment. ELIGIBILITY You must be incorporated to be eligible.… Continue Reading
  • Fast Tracking to Practice Ownership (3/3/2021) - Suffocating under a $300,000 student loan, most dental graduates decide to work as associates until the student debt is gone. If you really want to pay off your loan quickly, consider becoming an owner as soon as you can. Use a short-term associateship to hone your clinical and patient communication… Continue Reading
  • Incorporating with Student Debt (3/3/2021) - There is a general impression, particularly amongst young dentists, that there is no benefit to incorporate as long as they have personal debts. There are significant benefits for a new dentist if they spend less than they earn. Here’s an illustration that shows how a new dentist can benefit from… Continue Reading
  • A Great Tax Shelter-Soon to Disappear (3/3/2021) - Many dentists are taking advantage of a tax strategy of converting the regular dividends from their corporations into a capital gain generating huge savings. To illustrate, the capital gains tax on $200,000 of income from the corporation is about $22,500, compared to a tax of $54,400 on dividend income. A tax… Continue Reading
  • CPP Tax Hike Hurts All Canadian Workers (1/28/2021) - The maximum pensionable earnings and contribution rate for 2021 have now been released and are a surprise to many; the cost of CPP is significantly increasing. Year Max. Pensionable Earnings ($) Employer/ee Contribution Rate (%) Max. Annual Employer/ee Contribution ($) Max. Annual Self-Employed Contribution ($) 2019 57,400 5.10 2,749 5,498… Continue Reading
  • Ordinary Canadians Pay 40% of all Capital Gains Taxes (1/28/2021) - 40% of Canadians who pay capital gains taxes earn less than $100,000 a year. There is a common misperception that capital gains taxes are only paid by rich Canadians. “Despite what many Canadians believe, most capital gains taxes are paid by ordinary Canadians not the super wealthy, and raising this… Continue Reading
  • Hurry: January 31 is deadline for the wage subsidy application (1/13/2021) - January 31, 2021 is the deadline for application of the Canada Emergency Wage Subsidy for Period 1 (based on March 2020 revenue) through to Period 5 (based on July 2020 revenue). If you would like our firm to assist you in the calculation of your CEWS for these periods you will… Continue Reading

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