At Devendra Sharma CPA Professional Corporation we have decades of experience providing accounting services to dentists in Ontario.
Our team of accountants understands the complicated tax issues dentists face, and we consider ourselves an important part of our client’s advisory team.
You get a comprehensive approach to tax planning that includes tax-minimization plans, practice and business management, and strategic advice.
We Can Help You Achieve Your Business and Personal Goals
We offer a wide range of dental accounting services to help our clients achieve their business and personal goals. We offer the following services:
- Personalized client services
- Preparing financial statements and tax returns
- Financial advice regarding opening, buying, or selling a dental practice
- Tax planning
- Representation before tax authorities
- Helping you build your professional network
- Estate and retirement planning
We offer a complimentary meeting to discuss your current financial situation, goals, and concerns. During this meeting, we’ll determine what services are right for you and then provide an estimate for the cost of the services we think would be most beneficial to your business.
Our complimentary consultation does not obligate you to retain our services. To set up a consultation, please contact us by phone or email.
We Provide Personalized Client Services
We stay up-to-date on new tax legislation and tax law changes, as well as financial trends, to ensure our clients always receive service that is not only efficient but timely and effective. We pride ourselves on providing our clients with comprehensive and personalized services.
We provide financial and tax advice through every stage of our client’s business and life cycles. We’re here with the right advice and services from beginning to end:
- When our clients become healthcare professionals.
- When they acquire their practice.
- When their practice becomes profitable, or its structure becomes more complicated.
- When our client decides to sell their practice or transfer it to a family member.
We can also help on a personal front – from planning to start a family to planning for retirement!
You can depend on us to guide you through the multitude of decisions to be made at every stage of your personal and professional life.
We’ll Prepare Your Financial Statements and Tax Returns
You want to spend your time focussing on your staff and your patients – not on preparing financial statements and tax returns!
We take care of the heavy lifting when it comes to preparing financial statements. When we identify opportunities for additional profits or better efficiency, we’ll let you know and explain the financial statement results in easily understood terms.
We stay involved with our clients throughout the year to help ensure we make a difference in our bottom line.
We also prepare both federal and provincial tax returns. We offer year-round tax planning to minimize or defer taxes and also prepare tax projections and estimated tax payment calculations.
We Can Help When You’re Opening, Buying, or Selling A Dental Practice
There are a lot of issues to consider when you’re opening a new dental practice or buying or selling an existing one. We can provide support in various areas, including preparing a business plan and cash flow projections, negotiating with banks and vendors, and establishing a tax plan to reduce future taxes.
We can also provide guidance on complicated topics such as asset purchase versus share purchase and how cost-sharing works instead of a partnership.
Another way we can help you is to determine the correct type of entity for your dental practice. We’ll analyze the following options and provide recommendations on the best choice for you:
- Sole proprietorship
- Professional corporation
- Technical or hygiene service corporations
We’ll also revisit this setup over the life of your business and make suggestions on changes as needed.
We Specialize In Tax Planning
Our primary tax planning goal is to help you minimize your tax bills. Since we have extensive hands-on experience working with dentists, we have the capabilities to put together customized tax strategies to help you keep more of your money.
We focus on helping you attain the lowest tax bill possible by showing you how to select an efficient tax structure. We’ll also provide comparisons of key ratios – that is, a comparison of financial ratios that help compare you to your peers – and provide suggestions for improvement where necessary.
We’ll Represent You Before Tax Authorities
If you’re required to represent yourself before the CRA or any other tax authority, we can help. Whether you must respond to correspondence from the CRA or are required to communicate with them by phone or in-person, we can help.
Your focus should be on running your practice and helping your patients. Let our experienced team of specialists keep you focused and take care of any representation before tax authorities you require.
We Can Help You Establish A Professional Network
We have years of experience helping dentists establish their practices, and we can help guide you as you establish yours every step of the way.
We’ll work with you to connect you to the right partnerships and associations and put you in contact with a variety of other professionals, including contacts in banking, real estate, and the legal profession. You don’t have to do this alone – draw on our expertise to make establishing and expanding your practice easier!
We Also Help With Estate and Retirement Planning
Working in conjunction with our client’s advisors, we can help provide extensive estate and retirement planning. Our primary goal is to satisfy the wishes of our clients in a tax-efficient manner, which can be done in a variety of ways, including incorporating various trust vehicles and creating charitable and individual gifting plans.
Book a meeting with us today to get started!