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...]
Just for Dentists Newsletters
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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...]
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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...]
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Jan, 2019 Five Must-Have Practice Monitors
January 18, 2019 by
To keep your fingers on the pulse of your practice here are some key practice monitors. 1. New patient count Find out what your normal patient attrition rate is. If the practice has 2000 active patients, and you are getting about 15 new patients … [Read more...]
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Jan, 2019 Give Patients the Ritz-Carlton Treatment
January 18, 2019 by
Ritz-Carlton is one of the top hotel chains with a legendary culture focusing on customer service. Its motto is: “We Are Ladies and Gentlemen Serving Ladies and Gentlemen!” The employees must treat workplace colleagues with the same dignity … [Read more...]
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Jan, 2019 A Home Equity Line of Credit for a Tax-Free Retirement
January 18, 2019 by
Dentists are uniquely placed to reap the benefits of a Home Equity Line of Credit (HELOC). Substantial earnings, home ownership, and financial stability mean that tapping into the equity of your home to supplement your income at retirement is a great … [Read more...]
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Jan, 2019 Want to boost your portfolio returns? Don’t tinker with it!
January 7, 2019 by
If you are in the habit of checking your investment portfolio daily, you should find yourself a new hobby. Stop tinkering and your investment portfolio will grow that much faster. This conclusion was the result of a 10-year study of mutual fund … [Read more...]
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Jan, 2019 Why do Patients Choose Your Practice?
January 7, 2019 by
Why are some dental practices growing three times faster than other practices in the same community, are 50% more profitable, and yet spend less than the average on advertising and promotion? To find the answer to this question, Lee Frederiksen, … [Read more...]
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Jan, 2019 The B.C. Speculation and Vacancy Tax (SVT) – What You Need to Know.
January 7, 2019 by
All owners of residential property in designated B.C. areas including corporate owners, partnerships and trustees, must make an annual declaration to report the residential property and either claim an exemption from the SVT or pay the tax. For … [Read more...]
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Dec, 2018 Four Ways You Can Still Split Income
December 17, 2018 by
Over the last year we have been working with many dentists to minimize the drastic increase in personal taxes as a result of the Tax On Split Income (TOSI) rules. Here are four strategies that allow you to still income split with family members in … [Read more...]
