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
David Chong Yen returns to Weekly Wisdom to share why you should seek continuous improvement for your practice instead of seeking perfection. Subscribe to Oral Health’s weekly e-newsletter to have the latest episode delivered straight to your inbox each week!
Join David Chong Yen and Eugene Chu on the LIVE Webinar entitled, “Financial, Tax and Accounting Plan to Survive COVID-19”. WHEN: 12:00pm on Thursday, April 9, 2020 HOW TO REGISTER: https://edropin.com/e/durbanlabs-financial Financial strategies as well as Government programs to help you navigate your business through these uncertain times.
1. Sharing is Caring/Saving Use family members in the tax savings game. Many dentists have a dentistry professional corporation (DPC). DPC’s if structured appropriately facilitate “sharing of income”. Family members may be eligible to receive dividends provided they work 20 or more hours per week on behalf of the practice throughout the year. A family … Read more
Preparing yourself and your finances for this turbulent time, created by Coronavirus, tumbling oil prices and stock markets, will help allay your fears and anxiety. Here are tips and strategies to help you weather the hurricane: 1) Protect/Enhance Cashflow During times of turmoil and crisis, it’s important to have cash. In these situations, you can … Read more
The Association is launching in March a new online, on-demand program specifically designed to provide information — from parental leave to financial support — that is tailored to the early-career dentist’s unique work-life balance needs. Aptly called the ADA Accelerator Series, the program’s goal is simple: position dentists for a faster road to success, said … Read more
Episode 1 of 6: Stive and Chris chat with Dr. Diston about recognizing the need to plan and prepare adequately and in advance of a dental practice sale. For most dentists, the sale of their practice will probably be the single largest financial transaction of their professional lives. And, the most complex because of the … Read more
Happy New Year! Now that 2020 has arrived, it is a perfect time to reflect on the highlights of the past decade and plan for the future. I realize that planning is likely low on the list of fun things to do but, before you turn on that Netflix series, know that the effort spent … Read more
As we approach the end of the year, it’s common for many people to look at their bank accounts and question where all the money they made has gone. Taking control of your finances requires discipline and we have provided some tips and tricks that will help you keep more money in your pockets as … Read more
Dental students and associates are a busy bunch. With long hours and a hectic schedule, figuring out your tax filings can slip down your priority list. This group typically asks about five topics: deductions against your income, moving expenses, impact of extra income, reducing taxes on salary and the benefits on incorporation. Let’s look at … Read more
[newcomjwdfp id=”BRRpibvt-GEWIrHLo”] David Chong Yen shares his best advice for dentists looking to run their practices without running low on cash. Fresh out of dentistry school? Watch “The 411 on Your Student Debt.”