Practice Owners
As an owner of one or more practices, you’ve likely acquired valuable business experience over the years either through “the school of hard knocks” and some expensive mistakes, or with the help of colleagues and practice coaches. Either way, you feel established and continue to work hard trying to manage and juggle a number of areas – the practice(s), family/personal lifestyle and your future retirement.
You may have built relationships with multiple advisors over the years. However, if these advisors don’t communicate with one another, or are following an agenda designed for their own benefit, your big picture plan will be fragmented. If that’s the case, you may be unaware that you are leaving money on the table.
At TMFD Financial, we work as a team to connect the dots, so that your big picture plan is cohesive and geared towards your success. We focus on growing your Net Worth, the bottom line on the scorecard that defines your success. This is done by reviewing and co-ordinating your:
Practice Cash Flow
Tax Reduction Strategies
Practice Productivity
Family Lifestyle Needs
Retirement Target
We’re in a very unique position to see a wide range of practices in every phase of maturity enjoying varying degrees of success. We are therefore exceptionally qualified to plan and implement the strategies needed to help you run a successful practice, simplify your life and build your net worth.
Some common, but not limited, subject areas where we can help you reach your goals include:
Tax & Financial Planning
Practice Cash Flow Management
Reducing Overheads/Improving Practice Efficiency
Practice benchmarking
Estate planning and insurance
Consolidation of bookkeeping services
Setting retirement need targets in place
Reviewing investments and savings plans
We invite you to contact us today for a complimentary initial consultation.
Associates
As an associating dentist, you probably have many questions about your financial situation:
How and when do I file my taxes?
Should I set up a professional corporation, and if so, when should I incorporate?
Should I buy or rent a car?
Should I buy or rent a home?
Are partnerships a good idea?
Should I buy a practice or start a new one?
Do I purchase the assets of a practice and is the price justifiable?
Am I on track for financial security?
Do I need disability or critical illness coverage?
Where should I be investing my savings?
TMFD Financial will help you answer these questions while preparing you for financial success in dentistry. Our annual flat fee service includes and addresses:
Tax & Financial Planning
Need for Incorporation
Associate income after tax and lifestyle expenses
Practice search, purchase and financing
Insurance needs
New home purchase/Getting married
Helping parents
We invite you to contact us today for a complimentary initial consultation.
*All tax and accounting services provided by TMFD Financial Professional Corporation Chartered Professional Accountants
Complimentary Practice Purchase Assessment
If you’re in the process of acquiring a dental practice, our Practice Purchase Assessment will provide you with the clarity and confidence you need to make the right decision. Our in-depth analysis includes:
Cash flow projections
Loan repayment assessments
Identifying strengths and areas of concern
No matter where you are in your dental career, TMFD Financial is here to provide expert guidance on the complexities of practice ownership and acquisition.
Complimentary Practice Valuation & Financial Review
For existing practice owners, we’re excited to offer a complimentary practice assessment and financial review. This free consultation provides valuable insights into your practice’s financial health, including:
Highlighting Your Financial Health
Identifying Overspending and Excellence
Revealing Opportunities for Improvement
Valuing Your Practice
*The valuation is an estimate.
