Finance
The government enacted a number of new tax changes last year that could dramatically impact the bottom line of many Canadian businesses, including incorporated professionals – chiropractors, doctors, lawyers and accountants. In this article, we will examine an area that has received considerable attention from small businesses and industry groups: the potential loss of some (or all) of the small business deduction (SBD).  
I don’t have to tell you that money is a big part of our lives. But in case you doubted it, a study by the American Psychological Association says that money issues outweigh other sources of tension, including work, family and personal health concerns.
For most retirees, the thought of retirement always seems to be some destination far off into the future. But like many things in life, retirement has a funny way of approaching with greater speed each passing year.  
If you've never seen a "perspective sculpture" in person, you've probably run across a few online. One of the most famous is dedicated to Nelson Mandela.
A series of proposed class action lawsuits have been launched against some of Ontario's largest insurance companies, alleging they are breaking rules that govern payments to automobile accident victims.
One of the greatest regrets people have is not taking enough time for themselves, particularly as they age. A closely-related question is deciding at what age to retire from practice.
We’ve heard the term “passive income” many times, but do we really know what it means? Passive income is generating money from a concept or organization that does not require our direct presence. Residual income calculates how much money we have left over after we pay all our expenses.
Health spending in Canada is expected to reach $6,604 per capita this year – or about $200 more per person compared to last year – according to a report released Tuesday by the Canadian Institute for Health Information.
As health-care professionals, you spend your time helping Canadians make healthy choices to prepare them physically for a productive life – but what about your financial health? Retirement planning is often delayed, or worse, it is left unmanaged where it falls subject to a wide range of risks and uncertainties.
When I was in chiropractic school a professor told me chiropractors in the NFL made a salary of $250,000 per year. I believe my professor was telling me what they thought to be the truth – although they have been misinformed.
A while back I had an informal conversation with a Canada Revenue Agency auditor. During that conversation the auditor told me that in the last 10 years the number of chiropractors in arrears on their taxes has risen dramatically.
Running a successful business – whether a chiropractic practice or a lemonade stand – is not easy. It requires unwavering level of commitment, because being successful today does not guarantee success tomorrow. Believe it or not, the success of your business depends on the most unreliable, unpredictable elements of existence – other people.
Whether you are setting up your first clinic or have owned your practice for decades, you probably have similar concerns that keep you up at night.
The Financial Services Commission of Ontario (FSCO) has released communication material in an effort to help reduce fraud in health-care services for auto insurance and provides suggestions on what health practitioners can do to protect themselves.
Practitioners who run multidisciplinary practices will find they are able to create new revenue by simply reducing expenses versus putting efforts into attracting and seeing new patients. By re-evaluating every spending transaction, I went through and tracked every dollar spent in 2013 and 2014 to determine what was needed, what was optional, what was unnecessary, and what could likely be discounted by the supplier.
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