Tax planning is a critical aspect of financial management for health professionals in Canada. Whether you are a doctor, dentist, nurse, or another health professional, understanding tax regulations can help you maximize your deductions, minimize liabilities, and ensure compliance with the law. This guide aims to provide comprehensive information on key tax forms, deductible expenses, and the rules around HST, GST, and provincial sales tax. Essential Tax Forms for Health… Read More
Tax Changes to the Dental World
GOOD NEWS! Canadian Dental Care Plan (CDPCP) In 2024, the Government of Canada launched a dental care program for those under the age of 18, seniors, and Canadians holding a Disability Tax Credit certificate were eligible to apply for the CDCP. In 2025, the plan is being expanded for Canadian resident families with a gross household income of less than $90,000 and do not have dental insurance. The amount of… Read More
The Dreaded CRA Audit & The 3 Golden Rules
I made a YouTube video on this very topic, and I highly recommend you watch the video. Before we begin, I have a confession to make. It was my second video, I was still learning, the graphics and effects are horrendous. Looking back, it’s quite embarrassing. On the flip side I am super happy to say the content itself is top shelf. Save yourself the eye strain and listen to… Read More
Companies need a budget, and they need it now!
Starting a company is fun, exciting, and scary at the same time. It’s natural to make mistakes as you go along your journey, it’s all part of the learning process. Pretending as if something doesn’t exist is not natural. Let me explain… Managing and monitoring cashflow, monthly financials, taxes filings, and preparing budgets and forecasts are part of your fiduciary duty as an officer of the company. In too many… Read More
The ins-and-outs of donations
Donations are the blood line for many organizations. It keeps people employed, it covers the organization’s administrative expenses, and yes, it also helps those in need. As for yourself, you get the intrinsic satisfaction of doing good for society extrinsically you get tax credits! Before we get into the nitty gritty let’s talk about donations from a macro level. Generally, for the first $200 you donate, you will receive a… Read More
Are you relocating down south?
Canada and the US are similar in certain regards and drastically different in many ways. Canada lives and breathes ice hockey whereas football reigns supreme down south. They have sandy dry deserts, and we have the great White Tundra. On the flip side our love for Hollywood, Canada’s safe streets, Southern tropical beaches, and Canadian beer is what unites us all. Unfortunately, our tax systems vastly differ and are quite… Read More