Just for Dentists Newsletters

There is no greater reward in your dental career than working in your own practice. The unabated enthusiasm and passion for dentistry displayed by senior dentists who started their own practices attests to this. Many are still going strong after … [Read more...]

Many dentists are taking advantage of a tax strategy of converting the regular dividends from their corporations into a capital gain generating huge savings. To illustrate, the capital gains tax on $200,000 of income from the corporation is about … [Read more...]

In a recent tax and estate planning report CIBC examined the question as to how best management fees for RRSPs should be paid. Should the fees come from inside the RRSP or be paid using outside funds? Intuitively, you might think that you would … [Read more...]

If you had to choose between a gift of $5 million today or one penny that would double in value daily for 31 days, which would you pick? If you chose the compounding penny option, you are the winner. That option would give you $10,737,418 in 31 days. … [Read more...]

Financial advisors are targeting high net worth individuals with a strong cash flow. The scheme is to make large deposits in a life insurance policy which creates an early cash surrender value (CSV). Then they arrange for a loan secured by the CSV. … [Read more...]

Dental practices, like most companies, operate on a set of policies and operating procedures which include mandated vacation days, fixed working hours and annual performance reviews. But what happens when the practice looks less to control and … [Read more...]

Here are some tax planning tips of making the most of your interest expense write offs. There are three tests you must meet in order to deduct the interest on borrowed money. There must be a legal obligation to pay the interest. This can … [Read more...]

Management fees can take a big bite out of your investments. $100,000 invested for 20 years at 8% will yield $470,000. With a 2% management fee, the investment shrinks to $325,000, a drop of $145,000 or 30% of the portfolio. You are basically … [Read more...]

In order to provide the best possible advice to clients, a financial planner needs to determine the following: What is the correct asset allocation for each client? How much income can a client safely withdraw to ensure investments do not run … [Read more...]

According to last year’s large-scale annual survey of dental practices by the Levin Group, increasing production remains the top priority of dentists surveyed. Most practitioners appear to be successfully growing their practices. In 2019, the … [Read more...]