For a dentist to be successful, tax planning is just as important as practice management. A dental practice is one of the only entities that is restricted by the Health Professions Act, yet can be sold. Accordingly, unless the appropriate structure is used, the professional may be subject to unnecessarily high tax rates throughout their career and on the sale of their practice.
We pride ourselves in being experts in tax and accounting matters the affect physicians and surgeons. From determining when the right time is to incorporate, to helping you understanding the most tax efficient strategy for deferring tax and investing your retained earnings, we can assist you in any phase of your professional career. With professional corporations under scrutiny from the government, it is essential to engage a professional accountant, who is not only aware of new legislation, but is able to find strategies to adapt to the changing legislation.
For most business owners, tax exhausts working capital. Not only can we structure your affairs to defer tax, we can minimize and even mitigate tax using certain income splitting strategies. With an unpredictable tax environment, it is crucial to engage a professional accountant, who is not only aware of the changing legislation, but is also able to formulate strategies that can adapt.
Being in the know has its advantages, but in order to be successful, a sound strategy is paramount. You have already identified the opportunity, now let us help develop a strategy to maximize the capital you have to invest, so you can capitalize in the opportunity. Whether you are reinvesting profits from existing projects or require financing, we can ensure your taxes are minimized.
Currently, the tax environment for professionals is less predictable than the weather. With the government focused on the taxation of professional corporations, it is now essential to engage a professional accountant, who is not only aware, but understands the dynamic nature of the legislation. We can help develop specific strategies, which can adapt to the changing legislation.
High income earners are now, more than ever, a target of the Canadian tax system with top rates in Alberta approaching 50%. As a result, whether you are on the road to advancing your career or planning for retirement, we can assist with developing a tax strategy to maximize your after-tax dollars.
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