When it comes to dental practices, providing top-notch oral healthcare is the priority — but that doesn’t mean tax planning should take a backseat. Dentists in Markham face unique financial and tax challenges, and without proper guidance, they may miss key opportunities to optimize their earnings and reduce tax liability. That’s where Dean & Associates Accounting, your trusted tax advisor for dentists in Markham, comes in.
Understanding the Financial Landscape for Dentists
Dentists, whether operating solo or managing a group practice, encounter distinct accounting needs. These include managing high-income brackets, handling practice-related expenses, structuring business operations, and navigating complex tax rules. Unlike other professions, dental clinics often have high overhead costs — from equipment to staffing to leasing office space.
Moreover, self-employed dentists or incorporated practitioners must consider their income splitting opportunities, allowable deductions, HST/GST compliance, and retirement planning. These complexities demand a specialized approach, and a general accountant simply may not be enough.
Why Choose Dean & Associates Accounting?
At Dean & Associates Accounting, we understand the dental industry inside out. We provide customized tax solutions specifically tailored for dental professionals. As a leading tax advisor for dentists in Markham, we help dentists manage their finances efficiently, minimize taxes legally, and build long-term financial security.
Here’s how we stand out:
1. Industry-Specific Expertise
We don’t just know taxes — we know dentistry. From understanding how to handle associate contracts to optimizing dental supply expenses and managing hygiene staff payments, we bring specialized knowledge that makes a measurable difference.
2. Incorporation & Business Structuring
Thinking of incorporating your dental practice? We help assess whether it’s the right move and guide you through the process. Our advisors also assist in determining optimal salary vs. dividend structures and setting up professional corporations.
3. Tax Minimization Strategies
With proactive planning, we identify legal ways to reduce tax burdens. This includes maximizing allowable deductions, planning capital purchases strategically, using tax deferral strategies, and advising on RRSPs, TFSAs, and corporate investments.
4. Audit Preparation & CRA Representation
In the unfortunate case of a CRA audit or review, having a knowledgeable tax advisor by your side is essential. We offer audit support, helping ensure your documents are in order and your practice remains compliant.
5. Cash Flow & Profitability Planning
Beyond taxes, we help you manage cash flow, project future earnings, and plan investments — ensuring your practice remains profitable and sustainable.
Personalized Support for Every Stage of Your Career
Whether you’re a new graduate starting out, an established dentist growing your practice, or nearing retirement and considering a sale or transition, Dean & Associates Accounting provides expert guidance every step of the way. We offer support tailored to your current situation and future goals.
Let’s Optimize Your Practice’s Financial Health
Choosing the right tax advisor is just as important as choosing the right dental equipment — both are essential for the success of your clinic. Partner with Dean & Associates Accounting, the trusted tax advisor for dentists in Markham, and gain the peace of mind that your financials are in expert hands.
Let us handle your tax complexities so you can focus on what you do best — caring for your patients. Contact us today to schedule your free consultation and take the first step toward smarter financial health.
