We service both full service dental clinics and associates with the following:
Dental Corporation: Share structure for income splitting (Voting vs Non-voting), share classes, shareholder agreements. We work closely with lawyers to provide the ideal structures for your corporation. It is critical for Dentists to consider the corporate structures as the practices gain value and these businesses qualify for the life time capital gains exemption amount of $850,000 per shareholder.

Buying and Selling Practice: We assist Dentists in purchasing and selling their practices both from within our own client base and our networks. We also assist with Dental practice evaluations and financing as necessary. We perform due diligence prior to purchasing of dental practices.

Full Accounting: Monthly electronic bookkeeping (pro-active management of expenses and business decisions to find solutions to reduce taxable income between corporation and personal. Separating business vs. personal. Payroll management for hygienists, staff.

Tax Planning: Salary vs. Dividends, income splitting strategies, shareholder loans, home loans, etc. Avoiding tax triggers for purchasing additional properties, etc. In Ontario a Dentist can be the only common share holder. With the tax rule changes we need to assess whether a spouse could be a nonvoting shareholder depending on the involvement in the practice. Up to $45,000 in non-eligible dividends can be withdrawn from the corporation tax free by the owner. If a spouse works more than 20 hours per week they may also qualify under the new TOSI rules.

Filing Corporate Returns: Annual filing of Corporate returns and keeping corporation compliant with CRA. We handle all CRA dealings for both personal and corporate with online access.

Financial Statements: Annual financial statements for lending institutions, etc.

Holding Companies: As revenues grow in the Dental Corporation it is essential to consider holding companies to make additional purchases of assets and not pull it out of the corporation to cause tax triggers.

Website for the Ontario Dental Association: http://www.youroralhealth.ca/

Salaried employee’s & residency students:
Electronic T1 (personal tax return) filing
Tax saving strategies (RRSP) and allowable deductions.
Dealing with CRA inquiries and reviews
Open communication with accountant throughout year for pro-active management

Sole proprietors (non incorporated – professional returns)
Electronic T1 (professional personal tax return) filing
Tax saving strategies (RRSP) and allowable expenses and deductions.
Dealing with CRA inquiries and reviews
Open communication with accountant
Electronic bookkeeping (separation of professional vs. Personal expenses) pro-active vs end of year.

Incorporated Dentists
Electronic T1 (personal tax return) filing – complimentary
Corporate return T2 electronic filing
Financial statements (notice to reader)
Assistance with setting up corporation initially
Dealing with CRA (audits, reviews) – Online Access
Payroll for employees (basic and electronic with ADP partnership with preferred prices.
Tax strategies – payroll vs. Dividend, shareholder loans, maximizing allowable deductions, personal vs. Business split.
Access to accountant throughout the year and proactive management of your practice.

** Fees will cover compliance engagements and prices will vary based on your unique circumstances, billings, number of clinics owned, and additional dealings with CRA on existing matters and your stage of the practice will influence your package. We will inform you to come up with your unique package so you have a package that will be a block fee’s for the year. Our billing is monthly and we have a system especially designed for proactive management of the accounting cycle for Dental professionals.