Articles

Financial Planning Timeline for New Dental Practice Owners

Starting your own dental practice is an exciting step, but it comes with financial challenges that require careful planning. A solid financial plan acts as a guide, helping you manage costs, forecast income, and make informed decisions. Without it, you risk overspending or missing key growth opportunities. Understanding the financial timeline is essential. From initial budgeting and securing funding to managing cash flow and planning for long-term goals, each step plays a role in your practice’s success. Knowing what to prioritize and when can reduce stress and keep your practice

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7 Tax Deductions Dentists Often Miss That Save Thousands

Running a dental practice comes with many responsibilities, and managing taxes is one of them. As a dentist, you might focus more on patient care than on financial details, which means it’s easy to overlook valuable tax deductions. Missing these opportunities could result in paying more tax than you need to. Knowing which deductions apply to your practice can make a big difference. From equipment expenses to staff training costs, there are several areas where you might save. By understanding these deductions, you can reduce your tax bill and keep

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Smart Tax Strategies That Put More Money in Associate Dentists’ Pockets

Are you watching too much of your hard-earned income disappear to taxes each year? As an associate dentist in Canada, you’re likely paying close to 50% of your income in personal taxes – but it doesn’t have to stay that way. After working with hundreds of dental professionals, we’re still amazed by how many associate dentists miss out on legitimate tax-saving opportunities. Most think tax planning is only for practice owners, but associates actually have some incredible options available – if you know where to look. Today we want to

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Dental Practice Valuation: What Impacts Your Practice Worth

You’ve spent fifteen years building your practice. Late nights, weekend emergencies, countless hours perfecting your clinical skills. Now you’re thinking about what comes next – maybe retirement, bringing in a partner, or just understanding what you’ve actually built. Here’s what we see happen all the time: dentists walk into valuation meetings with completely wrong expectations. Last month, we had a client who was certain his $900,000 revenue practice was worth at least $700,000. The appraisal came back at $480,000. He was devastated. On the flip side, we’ve seen practices that

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Data Analytics in Dental Practice Accounting: Enhancing Financial Insights

Data is often painted as a solve-all window of insight – a simple yet prolific thing every modern business owner has at their disposal. But actually benefiting from it isn’t given. Tangible takeaways require intentional and thorough review. That’s especially true when it comes to data analytics in dental practice accounting. This unique industry presents distinct challenges that require specialized approaches to everything from interpretation to strategic planning. Today, we’re sharing a bit of both. What Makes Data Analytics in Dental Practice Accounting Different Unlike traditional retail or service businesses,

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