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Should I Incorporate a Dental Professional Corporation?

Do not dismiss incorporation on the belief you "spend everything you earn as a dentist." Incorporation is about providing income in a tax efficient manner, even if you spend everything.

Dental incorporation can help provide:

• Income-splitting with adult children
• The opportunity for tax-deductible mortgage
• Set up a plan for tax-sheltered savings
• Implementation of your own no-cost Health Plan
• Educational funding for your children via corporate loans
• Maximize your potential for retirement savings
• Maximize tax deductions
• The implementation of the most advantageous corporate structure
• Lower payout in the event you sell your practice

As a new dentist graduate, there are benefits in timing your incorporation, by first utilizing strategies to clear your student debt before you incorporate.

Dental Practice Transitions:

Opening, Buying or Selling a Dental Practice

When opening, buying or selling a dental practice, dentists face a multitude of situations that require expert advice and guidance. We can assist with:

• Business Plans
• Cash flow Projections
• Bank negotiations
• Vendor Negotiations
• Lease or Buy
• Purchasers, Sellers or Landlords
• Assets or Shares
• Cost Sharing or Partnerships
• Premise Lease Reviews
• Choice of Entities
• Transitions

Not long ago, legal advances were made that allow business, including the dental practice to be managed as a corporation. For various reasons, however, more than 75% of dental practices have yet to harness the power of incorporation. On the most basic level, taking this step can significantly improve your bottom line through annual tax deferral equating to as much as 27 percentage points. On a broader spectrum, incorporating may be the best thing you do for your financial well being

. The benefits of practice incorporation should not be overlooked and can be discussed with our incorporation expert. Contact us today for an initial complimentary consultation, or to seek a second opinion.