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.
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.
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.
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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How Technology is Transforming Chiropractic Care
2020 San Diego Pain Summit
February 11-16, 2020
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April 30-1, 2020
16th Biennial WFC Congress
May 12-15, 2020
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June 5-6, 2020