Grow Your Net Worth

The federal government is looking to start a new national dental care program that would provide families with a household income of less than $90,000 with dental care assistance. There will be no co-payment requirements for those with a household income of less than $70,000. The program is intended to start this year (2022) for children under the age of 12 as the first eligible group. Unfortunately, few details were actually provided about this new program, leaving many families with unanswered questions. Not only that, but these unanswered questions are

Do you have a business idea? Maybe you want to start a new business offering general dentistry treatments. Or, you want to offer a wide range of dental products or services like lab-formulated crowns or actual crown placement. Whatever your idea may be, you are ready to start planning. Every successful business starts with thorough planning. A business plan will outline the key elements and business structure of your dental practice, so you can secure investors and help your business grow. Not sure what is in a business plan? Not

Every dentist wants to save money this tax season. Thankfully, there are many ways that dentists can reduce their tax liability and save more of their hard earned money. In this blog, we share several tax tips that can help you increase your overall tax savings. 1. Claim Your Tax Deductions Tax deductions are great ways to save on your taxes without cutting your business expenses. Dentists can give their employees one non-cash gift each, valuing up to $500 per year. Non-cash gifts are any gifts that do not have

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

How to Still Save for your Retirement in your Corporation Tax Free What’s the most tax-efficient way to save for retirement and access those funds in your leisure years for a dentist?  Many would say Registered Retirement Savings Plans or a Pension Plan. RRSP’s are certainly an efficient way to reduce your personal taxes as contributions are deductible from your income, and they have the ability to grow your savings on a tax deferred basis, but their usefulness for business owners earning a high income is limited. Registered plans work well for two

Are you a practice owner? If so, then this article is for you. Practice owners don’t have the opportunity to participate in a group pension plan like staff at other companies do. Don’t be sad, though, because this article is for you: a pension plan customized to you, the owner. Think of a group pension plan as an off-the-rack suit. Sure, it looks great and fits OK but doesn’t quite have exactly what an Individual Pension Plan (IPP) is: a bespoke pension plan. What is an Individual Pension Plan? Considered