Dental practice owner reviewing RRSP graph on tablet

8 Reasons Why Dental Practice Owners Should Stop Contributing to RRSPs, Do This Instead…

It’s RRSP season, the deadline of March 1, 2019 is quickly approaching! While many Dental Practice owners will make last-minute contributions, this might be your last. Many are not aware that there are far better and faster ways to save for retirement than an RRSP. Do you want to retire in your 50’s without having to sell your dental practice? Do you want up to 65% more of a retirement nest egg compared to a personal RRSP and have the practice pay for the contributions? Do you want to save thousands

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Mask-wearing dentist offering two toothbrushes to patient

Dental Staff Bonuses Vs. Benefits – What Do They Really Prefer?

Hiring “the right people” can be tough work but it is arguably the most important function you will ever perform. You must have a top performing team in place to give you the peace of mind that your patients are being well taken care of and that you are able to do what you do best – practice dentistry. To attract and retain high quality staff, employee compensation must include fair practices and reward employees based on the merit of each individual’s performance. What happens if your practice has top

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Dentist and patient behind text reading "Is Your Practice In Maximum Value Position?"

Is Your Practice in Maximum Value Position?

Your practice value is worth more than just numbers, it represents your life’s work.   Your practice should always be in a maximum value position so you are  prepared for planned or unexpected events that may occur at any point of your practice cycle/career. Here are just a few reasons to be ready: Unexpected/sudden illness Family needs to relocate Another business opportunity arises (clinical/non-clinical) Bringing in an associate Bringing in a partner Going through a divorce -asset determination Considering selling and staying on yourself as an associate Considering selling and

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Dentist using tweezers to insert cotton in patient's mouth

Top 10 Dental Office Management Solutions for Dental Offices

Harness the Power of Your Practice Have you tried being in two places at the same time? Running an efficient practice, while you are providing dental services is challenging, to say the least. It’s important to have the right business systems in place that are sustainable and easy to follow.  Dental teams need to have practical solutions in place that fit with their daily action plans and they need to enjoy their daily activities. Here are ten simple solutions to help your practice run efficiently: Empower your employees. Establish a

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Father lifts young daughter above his head in shadows at sunset

How to Keep More Money In Your Pocket

Let’s keep more of what you earn Corporate Estate Bond Strategy: With the new tax changes that have been implemented by our Liberal Government, we need to explore new avenues to defer or even eliminate tax so we can retire comfortably and then pass along the rest tax free to our loved ones. Like many dentists, you’ve worked hard and saved for retirement.  You find that you’ve got far more set aside than you and your spouse require.  Your thoughts now turn to maximizing your estate for your children and

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