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Why have separate bank accounts for your different legal entities?
Tax planning is critical to running a successful medical or dental practice. Separate bank accounts facilitate streamlined tax management by simplifying the identification of deductible expenses, credits, and allowable deductions...
Mission Possible: Setting Goals and Crafting Action Plans for Success
As a practice owner, setting strategic goals cannot be overstated; it is the cornerstone for growth, resilience, and realizing your overarching vision.
The 6 Predicted Dentistry Trends to Look Out for in 2024
As we set our sights on 2024, let's delve into the top dentistry trends, offering practice owners a glimpse into the strategic foresight required to steer their businesses toward success.
Paying Temporary workers According to Revenue Canada
Understanding how to navigate these different payment structures is essential to ensure compliance with Revenue Canada regulations and maintain the financial health of your practice.
Year End Preparation
So, take a deep breath, and know that this checklist is here to help you navigate this critical time. It's designed to streamline your year-end financial preparations and ease the...
Unwrapping Tax Guidelines
For example, a thoughtful birthday mug won't incur taxes for the recipient. However, if you opt for cash or a gift card, categorized as 'near cash,' it must be reported...
Employment Laws You're Probably Breaking
Interestingly, the dental industry has been notorious for falling short in several key labour law areas. Let's shine a light on a few of these crucial aspects:
Effective strategies for dental practices to enhance patient retention and loyalty
To deliver an exceptional patient experience that fosters loyalty, viewing your practice from the patient's perspective is imperative. The development process and patient journey should be designed with the patient...
Practice Financial Health Checkup: Assessing Your Fiscal Fitness
The first step in assessing the financial health of your dental practice is to review your financial statements. These statements include the income statement (profit and loss statement), balance sheet,...
Your Path to Seamless Hiring Solutions with DentHire
The Team at DentHire is driven by impact. We know how important that perfect hiring feeling is: the trust a clinic needs to have in each team member and the...
Training Hygiene Coordinators for Successful Patient Scheduling
As a dental practice owner, ensuring a steady flow of patients is essential for the growth and success of your clinic. One critical aspect of achieving this is mastering the...
Cash vs. Accrual, What is the difference?
Selecting the suitable accounting method for your dental or medical practice is a crucial decision that impacts financial reporting, tax planning, and overall business strategies.