Most of us have a cavalier attitude about preparing our last will. We seldom set aside the time such an important document deserves to address the unique circumstances of our family, practice, and financial lives. Your lawyer may, as a reward for … [Read more...]
Just for Dentists Newsletters
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Aug, 2019 Ready to Sell? Maybe Not…
August 6, 2019 by
One of the first steps in properly planning the sale of your practice is to secure the benefit of receiving the sales proceeds tax-free. You want to make sure that the sale of the shares qualifies for the Lifetime Capital Gains Exemption … [Read more...]
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Jul, 2019 A Simple Strategy to Boost Your Investment Returns
July 24, 2019 by
Most investors have a diversified portfolio consisting primarily of a mix of shares and bonds. One investor shared his strategy with the Globe and Mail’s finance columnist, Rob Carrick, the other day. It is worth repeating because it is both … [Read more...]
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Jul, 2019 Being a Landlord – Tax Planning Tips
July 24, 2019 by
With the drop in prices of residential real estate and the glut of condos on the market, particularly in the Lower Mainland, a few clients have started bargain hunting for a condo to purchase and rent out. Here some tax planning tips: Use … [Read more...]
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Jul, 2019 Tax planning on separation and divorce – in a nutshell
July 11, 2019 by
When you are going through a separation or divorce, income tax issues will likely not be top of mind. Good tax planning, however, before and during the separation can generate significant tax savings and help preserve your assets. Support … [Read more...]
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Jul, 2019 Manage Energy, not Time
July 11, 2019 by
The number of hours in a day is fixed, but the quantity and quality of energy available to us is not. This fundamental insight is the main theme in the book “The Power of Full Engagement” by Jim Loehr and Tony Schwartz. The … [Read more...]
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Jun, 2019 Four Major Obstacles to Practice Success
June 26, 2019 by
No matter how talented you are or how many hours you spend in your practice, you will never reach the pinnacle of practice success if you are suffering from any of these afflictions: Super Inflated Ego. Being enamoured of your own … [Read more...]
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Jun, 2019 Taking Shareholder Loans -What You Need to Know
June 26, 2019 by
The item on your corporate balance sheet that you should be most concerned about is the “shareholder loan” account. This loan account tracks cash advances to the shareholder(s) during the year. At the end of the corporate fiscal year, your accountant … [Read more...]
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Jun, 2019 Make your phone a practice builder
June 13, 2019 by
Many dentists don't realize how important it is to have proper phone etiquette. I cannot believe that some offices still use an answering machine during business hours. If you have inexperienced staff members answering the phone, you will make the … [Read more...]
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Jun, 2019 Bringing in an associate as a co-owner
June 13, 2019 by
Only one out of 10 associates end up as partners. Here are five must-do steps you must take to ensure your planned transition is successful. Plan ahead. Ask yourself, why would I want to bring in somebody into my practice and under what … [Read more...]
