Purtzki, Johansen + Associates

Dentists

We have served the dental profession for more than 40 years and know what it takes to establish and maintain a thriving practice.

Whether you are just starting your career, are established and looking for ways to increase revenue and decrease expenses, or are planning to retire, we can be of assistance.
Our business advisory services include:

  • Dental Practice Management
  • Systems & Facilities Evaluation
  • Tax & Accounting
  • Bookkeeping Services
  • Valuation of Practice
  • Practice Transition Services
  • Practice Marketing Services

We evaluate your current systems, procedures and facility management to measure efficiency and effectiveness to optimize your income. We offer industry comparison reports, so you can measure your practice’s performance against other practitioners.

For more information about practice sales and transitions, visit:

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  • income split corporate investment income Income Split Your Corporate Investment Income (12/13/2024) - Most dentists are familiar with the Tax on Split Income (“TOSI”) rules that limit the ability to split income with spouses or other family members. There are a few common exemptions where TOSI does not apply such as when the family member worked more than 20 hours per week for… Continue Reading
  • tax planning tips before dec 31 Five Tax Planning Tips before December 31 (12/13/2024) - The end of 2024 is near, however there is still time to take care of some tax planning items to ensure you don’t miss out on year-end tax savings! Capital Gain Loss Harvesting In previous years, a common tip was to consider selling any stocks with losses prior to December… Continue Reading
  • CRA Revokes Administrative Position for Dentist & Orthodontists GST refunds (12/13/2024) - The CRA has released GST Notice 339, revoking a long-standing administrative position that simplified dentists (and orthodontists) GST filings. Previously CRA had allowed dentists to claim a refund of GST paid on expenses based on an estimate of up to 35% of total fees charged for Orthodontic treatments on their… Continue Reading
  • Capital Gain Tax Changes Coming June 25th Pass Vote (6/13/2024) - On Monday the Liberal government introduced a Notice of Ways and Means Motion to implement the proposed capital gains tax changes announced in the Spring Federal Budget. The motion passed with the support of the NDP and Bloc Quebecois. The Conservatives (who are leading polling in advance of next year’s… Continue Reading
  • Planning for the Capital Gains Tax on your Real Estate Holdings (5/17/2024) - This is the final article of our three-part series on planning for the increased capital gains tax. Our first article outlined the upcoming changes to the capital gains tax and considered if you should pay that tax now or defer it into the future.  In the second article, we reviewed… Continue Reading
  • Accessing the Tax-Free Capital Dividend Account (5/16/2024) - This is part two of our three-part series on planning for the increased capital gains tax. Our last article outlined the upcoming changes to the capital gains tax. We considered whether or not you should pay that tax now at the lower 25% rate or defer it into the future… Continue Reading
  • Planning for the Increase in Capital Gains Tax (5/14/2024) - This is part one of our three-part series on planning for the increased capital gains tax. On June 25, 2024, the federal government proposes to increase the capital gains inclusion rate.  Currently, capital gains are only half taxable which means you only include 50% of the gain in your income. … Continue Reading
  • The BC 2024 Budget The Federal Budget 2024 in a Nutshell (4/17/2024) - The 2024 Federal Budget (see link at bottom for complete budget) was released on April 16, 2024. The following are some of the key proposals announced. Enhancements to Home Buyers’ Plan (“HBP”) The budget proposes to increase the HBP limit from $35,000 to $60,000 to allow first-time home buyers to utilize… Continue Reading
  • 2024 financial checklist for doctors 2024 financial checklist for dentists (3/6/2024) - Here are a few ideas for your 2024 financial checklist to help put you into an even better financial position by this time next year. Despite the higher interest rates and fear of the recession in 2023, many dentists who invested in the stock market made over 20%. Many wonder… Continue Reading
  • How much more CPP you will have to pay in 2024 (3/6/2024) - Many income earners in 2024 will pay a larger portion of their salary toward Canada Pension Plan (“CPP”) contributions. Starting in 2024, the enhanced CPP now has two earnings ceilings. In the first tier employees contribute a portion of their earnings to CPP, up to a government-set threshold of $68,500… Continue Reading

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