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The Canada Emergency Wage Subsidy – What does it mean to you?

Here are the highlights of the Wage Subsidy as released by Finance Minister Bill Morneau on April 1, 2020. No draft legislation has been released yet, but you can expect that the details of the program will be refined. Here is the … [Read more...]

What you need to know about the COVID-19 Economic Response Plan

The government just released its Economic Response Plan. Here are the changes that you should be aware of. Tax deferral-business: Businesses are able to defer payment of income tax until September 1, 2020. This deferral applies to tax balances and … [Read more...]

Your investments and the coronavirus

Investors are already facing the devastating impact of the coronavirus. The stock market went into free fall in early March, eradicating many years of investment gains. Looking at the ruins of a prosperous investment portfolio, investors are … [Read more...]

More dentists are making less money and what to do about it

While the demand for dental treatments is stagnant, the supply of dentists is increasing steadily. Unable to fill their daily appointment books, many dentists are experiencing a decline in revenue. As more dental clinics open, there is also a … [Read more...]

Don’t miss out on the capital gains exemption

You cannot start too soon getting prepared for the eventual sale of your practice. In fact you should make sure right now that you have the full entitlement of $883,000 of the capital gains exemption available. If you are expecting the sales price … [Read more...]

Never give up on your dream of practice ownership!

There is no greater reward in your dental career than working in your own practice. The unabated enthusiasm and passion for dentistry displayed by senior dentists who started their own practices attests to this. Many are still going strong after … [Read more...]

Plan your 2020 Taxes now and save big!

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 … [Read more...]

RRSP fees: from inside the RRSP or outside?

In a recent tax and estate planning report CIBC examined the question as to how best management fees for RRSPs should be paid. Should the fees come from inside the RRSP or be paid using outside funds? Intuitively, you might think that you would … [Read more...]

Harnessing the Power of Compounding

If you had to choose between a gift of $5 million today or one penny that would double in value daily for 31 days, which would you pick? If you chose the compounding penny option, you are the winner. That option would give you $10,737,418 in 31 days. … [Read more...]

The Perils of Buying Cash Value Life Insurance

Financial advisors are targeting high net worth individuals with a strong cash flow. The scheme is to make large deposits in a life insurance policy which creates an early cash surrender value (CSV). Then they arrange for a loan secured by the CSV. … [Read more...]

Our New Dentist Program is designed to help new dentists start their career with a solid financial foundation.

What sets us apart from other dental CPA firms is our years of experience working closely with dentists. We offer an unmatched skill set that goes way beyond routine accounting and tax planning. From Practice purchase or Start up assistance and loan financing to practice management and financial/retirement planning, we will help you manage every aspect of the financial side of your dental career.

Call at 604-669-7558 or email us at purtzki[at]purtzki.com to request a free consultation.
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