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Starting a private dental practice in Canada can be extremely rewarding for dentists and dental hygienists. Not only does it provide them with the opportunity to make their own income, but also with the opportunity to be their own boss. Despite the many benefits of opening a private dental practice, it does not come without its challenges. It can take a great deal of time, effort and patience to open and manage a dental hygiene practice independently. In order to make this process easier, we have created a simplified plan

Make sure your dental financial plan reaches your goals with our six-step process that guides you through the financial planning process.

Make sure your dental financial plan reaches your goals with our six-step process that guides you through the financial planning process.

Get answers to your questions about capital gains exemption and how to effectively multiply its outcome when factoring family members over the age of 18. Most dental practice owners understand the dynamics of a capital gains exemption. However, most dental practice owners may not know that there is a lifetime capital gains exemption (LCGE) available for each family member (including their parents).  Now if your parents owned a business and it has been sold, they may no longer have their Capital Gains Exemption. Now, the dentist then will be allowed

Effective April 9, 2020 the application for Canada Emergency Business Account (CEBA) became available and practices have the ability to apply for Government relief online. Effective June 26, 2020 additional measures have rolled out to allow for newer practices and even associates who previously didn’t qualify to now access this program. Here are the details to see if you qualify for it: What is the CEBA Program? The Canada Emergency Business Account is a government guaranteed loan of up to $40,000 that is interest-free until December 31, 2022. The loan

What to look for when transitioning employees between practice owners Dentists usually preach good oral hygiene to prevent gingivitis and tooth decay, but preventative maintenance applies equally to employment law and, in particular, buying or selling a practice. Strategic planning, enforceable contracts, effective workplace policies, and properly implemented procedures are the employment-law equivalent of brushing and flossing, and can be tremendously beneficial in avoiding legal claims from employees.  This is true of both day-to-day practice operations and practices in transition. The sad reality is that in many, if not most, cases