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Eight Recommendations for a Successful Dental Practice Purchase

You’ve worked hard to get where you are. You’ve put in the long hours, made the sacrifices, and achieved the professional goals you set for yourself. But now you’re faced with a decision that could change everything: should you buy a dental practice?

There’s no easy answer, and there’s a lot at stake. On the one hand, owning your own business can be very gratifying. You’ll have the freedom to set your own hours, build your own clientele, and be your own boss. On the other hand, it’s a lot of work. You’ll be responsible for all the practice’s day-to-day operations, from scheduling appointments to managing finances. And if something goes wrong, you’ll be the one who has to deal with the consequences.

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Key Considerations and Pitfalls to Avoid in Buying a Business

If you’re looking to expand your business or are just starting, buying a pre-existing, well-established business can serve as an effective stepping stone towards fulfilling your corporate goals.

Purchasing an existing business instead of starting a new one certainly has its benefits. For example, it can save you the effort of hiring new employees and securing a new facility and equipment. However, you’ll still need to take certain things into account, which we’ll cover in detail soon.

Buying a business isn’t a straightforward process. It all boils down to signing a set of documents and paying the seller, but there is also a highly demanding preparation period that must be attended to before you seal the deal!

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Stock Market

Ontario’s Corporate Record-Keeping Requirements

ONTARIO’S CORPORATE RECORD-KEEPING REQUIREMENTS

It can be easy to forget all the legal obligations you have as a corporate owner. We are not talking about taxes, which are always with us. With your incorporation comes reporting and record-keeping requirements that never go away. Do you know what those requirements are? Failure to meet reporting and record-keeping requirements could prove very costly with fines or other penalties involved.

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What Happens if You Die Without a Will

What Happens if You Die Without a Will?

OVERVIEW

In Ontario, if you die without a will your property is distributed in accordance with intestacy rules set out in Part II of the Succession Law Reform Act (Ontario) (the “SLRA”).

Under the SLRA rules, who gets your property after you die depends on whether you’re married and how many children you have.

MARRIED WITHOUT CHILDREN

If you’re legally married and have no children your estate goes to your spouse. It is important to note that this happens even if you’re separated from your spouse but have not had a divorce.

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