Breaking Bad fans are well-acquainted with Walter White’s drastic transformation from a high school chemistry teacher to a meth kingpin after his cancer diagnosis. Had Walter been properly insured, the entire plot of Breaking Bad would never have unfolded. This example paints a vivid picture for dentists on the importance of insurance in protecting themselves … Read more
The opportunity today is that Canadian borders do not bind you, and you don’t have to only go to your local dental school. Prospective dental students today can pick from domestic and accredited international programs and return to Canada to practise dentistry. But this poses new and costly concerns of a financial nature whereby they … Read more
The exhilaration of receiving your first paycheck as a newly minted dentist is an unforgettable milestone. After years of rigorous training and sacrifices, you finally reap the rewards of your dedication. However, to truly flourish financially and professionally, developing a comprehensive financial blueprint is essential. Here, we explore seven critical steps to navigate your financial … Read more
Shawn Peers, President of DentalPeers, discusses managing costs at your dental practice and how you can increase profitability. Subscribe to Oral Health’s weekly e-newsletter to have the latest episode delivered straight to your inbox every week!
Newcom Media Inc · Episode 6 – Prepare Your Estate Before It's Too Late Read the audio transcript below: Dr. Luisa Schuldt (LS): Hello everyone! Welcome to the latest edition of Brush Up, presented by Oral Health Group: The Dental Podcast where we speak with industry experts to discuss a variety of topics such as … Read more
LendCare Capital Inc. has announced a new partnership with 123Dentist. This latest partnership positions LendCare as the preferred financing partner for 123Dentist, a national network of supported dental practices that provide a wide range of dental care to more than 800,000 Canadian patients and over 2.5 million patient visits annually. In working with the network, LendCare … Read more
Henry Doyle shares how dentists can manage the rising interest rates and inflation, and how Heaps and Doyle can help!
Did you know dental hygienists are responsible for preventing and treating gum disease? According to the Canadian Dental Association, “7 out of 10 Canadians will develop gum disease at some time in their lives. It is the most common dental problem, and it can progress quite painlessly until you have a real problem.”1 This statistic … Read more
Newcom Media Inc · Episode 3 – Tax Planning Tips Subscribe: Read the audio transcript below: Dr. Luisa Schuldt (LS): Welcome to Brush Up, brought to you by Oral Health. I am your host for today, Dr. Luisa Schuldt. I am a periodontist and prosthodontist out of Font Hill, Ontario. Our guests today are David … Read more
As a dentist, you’re probably aware of the impact the Income Tax Act has on your life, considering tax is likely your biggest expense. With the average Canadian dentist paying personal tax rates of 43%–50%, taxes drag on dentists’ ability to grow their wealth over time. Understanding how to reduce this drag is crucial in … Read more
Practice overhead is one of the most critical metrics to track. What is your net profit? Where should it be? How you get this number is what truly matters. General practices should be at a net profit of 40% (higher is possible), yet reports show dentists are lucky to see 30% net profit these days. … Read more
When I speak about preservation planning, I often hear, “Paul, tell me what can go wrong. What could possibly be my critical event? I am financially secure, in good health and insured for negligent acts. Preservation planning is not on my radar.” That’s a tough question to answer; we do not have a crystal ball … Read more
Discover How You Can Share Your Canadian Pension Plan (CPP) with Your Spouse or Your Legal Partner in Six Simple Steps Married or common-law couples in an ongoing relationship may voluntarily share their CPP retirement pensions to help reduce their tax bill. Currently, the government allows you to share your CPP if you meet certain … Read more
In May 2020, Canada saw an all-time high in unemployment, reaching a staggering 13.7% as Covid hit the country hard. Now, however, the rate has stabilized again, but that doesn’t mean we’re in the clear. There’s a lot of talk of recession in countries across the globe, with economic downturns almost inevitable over the coming … Read more
Chris Molloy, Senior VP Advisory Services, shares a few key takeaways from TMFD‘s new book called “The Financially Independent Dentist.”
In this episode of Weekly Wisdom, R. Paul Jacobson, K.C., shares the different ways you can protect your assets. Subscribe to Oral Health’s weekly e-newsletter to have the latest episode delivered straight to your inbox every week!
In this episode of Weekly Wisdom, R. Paul Jacobson, K.C., shares what he brings up when discussing net worth statements with his dental clients. Subscribe to Oral Health’s weekly e-newsletter to have the latest episode delivered straight to your inbox every week!
Did you know that the price of a box of mac and cheese was about $0.99 before COVID and is now $2.50? The price of gas has gone up and down and up beyond anything we could have anticipated. And there you have it – the inflation of food prices and gas is happening and … Read more
Dentists are facing what many perceive to be unprecedented times. Raging inflation, 8.1%, as of June 2022, vs. 1.1% in February 2021 and 11.91% in May 1982, staffing shortages, corporate dentistry, rising interest rates, prime rate 4.7% as of August 5, 2022, vs. 2.45% in February 2022 and 21.25% in September 1981. Government funded dentistry … Read more
Dentists have few ways to control or manage inflation. A major tool that dentists have to fight inflation is their ability to increase productivity and/or use money to buy tools that increase productivity/efficiencies. Dentists who upgrade and enhance their clinical skills may be able to bill more per hour. Dentists who buy tools such as … Read more