YOUR EASIEST TAX DECISION
Tax Planning & Taxation
Personal and Corporation Filings
Tax planning for dentists in Canada involves understanding the complex tax regulations and optimizing your financial situation to minimize tax liabilities. ADC CPA investigates different alternatives so that you meet your personal and professional needs.
Stress Free & Seamless Taxation Services
Business
Structure
Dentists can operate as sole proprietors, form partnerships, or incorporate their practice. Each structure has different tax implications, including income splitting opportunities, liability considerations, and potential tax savings.
Income and Expense Reporting
Ensure accurate reporting of all income and deductible expenses related to your dental practice, as properly categorizing expenses can maximize deductions and reduce tax liabilities. ADC CPA securely stores documentation to ensure CRA compliance for record keeping in case of a CRA audit.
Retirement
Planning
These may include Registered Retirement Savings Plans (RRSPs), Individual Pension Plans (IPPs), or the use of a Tax-Free Savings Account (TFSA) for long-term savings.
Full Portfolio
Review
ADC CPA not only considers your tax strategies, but looks at your practice as a whole, weighing the pros and cons of your tax strategies and how it relates to the rest of your practice. For example, having other investments and taking your goals of growing or expanding into consideration.
Reach Your Financial Goals Today
We also understand that your goals change over time, and we are here to support you in creating an evolving strategy. It's never too early to start planning your retirement. Start the conversation with us to determine the steps you need to make for a great retirement!