Just for Dentists Newsletters

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...]

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...]

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...]

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...]

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...]

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...]

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...]

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...]

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...]

Dental practices, like most companies, operate on a set of policies and operating procedures which include mandated vacation days, fixed working hours and annual performance reviews. But what happens when the practice looks less to control and … [Read more...]