Anybody age 65 or older who has lived in Canada for at least 40 years after age 18 is eligible to receive the maximum Old Age Security (“OAS”) benefit. For the first quarter of 2019, the maximum monthly payment is $601.45. No contributions are … [Read more...]
Just for Dentists Newsletters
21
Mar, 2019 Standing up to the dental insurance companies
March 21, 2019 by
Dr. Todd Irwin is a dentist in Port Angeles, Washington. Interviewed by KING 5 News he said he was no longer prepared to sit idle as Washington’s biggest dental insurer, Delta Dental, continued to cut his patients’ benefits. “The patient may want … [Read more...]
21
Mar, 2019 The 2019 Federal Budget – what’s in it for you
March 21, 2019 by
Spoiler alert: the dividend to capital gain conversion survived Here is an executive summary of Tuesday’s Budget: No Tax Rate Reductions – the 2019 Federal Budget contained no personal or corporate tax rate reductions. Inter-generational … [Read more...]
7
Mar, 2019 Preparing for a Successful Practice Sale
March 7, 2019 by
Here is a checklist to help you to get ready for a successful practice sale. Meet with Your Financial and Tax Advisers Consult with your P J &A adviser whether or not you are retirement ready and can afford to sell the practice. In … [Read more...]
7
Mar, 2019 Setting Up a Corporate Health Plan
March 7, 2019 by
The beauty of setting up a corporate health plan is that it allows you to write off medical and dental expenses for yourself and your dependents against your dental income, without creating a taxable benefit. Not having to report personal medical … [Read more...]
20
Feb, 2019 The Importance of a Good Office Lease
February 20, 2019 by
A lease agreement is one of your practice’s most important documents. It not only governs your relationship with the landlord while you own the practice, but can also impact the selling price of your practice. A demolition clause, for instance, can … [Read more...]
20
Feb, 2019 A Great Tax Shelter – Soon to Disappear!
February 20, 2019 by
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...]
5
Feb, 2019 Practice Expenses Tax Auditors Love to Challenge
February 5, 2019 by
Many practice expenses, including conferences and travel, have a personal component giving lots of opportunity for a CRA auditor to argue they are not practice-related but personal in nature. There are three tests you must meet for a … [Read more...]
5
Feb, 2019 Investment Advice From John Bogle, the Late Founder of Vanguard
February 5, 2019 by
In 1975, John C. Bogle, the founder of Vanguard Investments, invented the first low cost index mutual fund which put millions of dollars into the pockets of many investors of moderate means. Bogle’s innovative idea was that index funds, consisting of … [Read more...]
4
Feb, 2019 When Price Becomes the 900-Pound Gorilla in the Room
February 4, 2019 by
When you or your representative negotiates the sale of your practice, you will very likely run into heavy resistance when the topic turns to purchase price. Your asking price, supported by a valuation report, may be more than reasonable. Still, it … [Read more...]
