As a dentist the largest expense you will face year in, year out is taxes. At Lifecycle Wealth we view taxes as the gate that holds back the racehorse of wealth creation and the simple fact is that you likely pay more than you need to in both personal and business tax. As one of Canada’s premier tax advisors for dentists we can show you proven, effective ways to reduce your tax exposure and kick start the engine of personal financial growth.
Not Just Another Tax Advisor for Dentists
Seek out the advice of just about any financial advisor for dentists or other medical professionals and chances are you’ll be presented with a financial plan that stresses reducing overhead. Like this:
• Limit your number of employees or hire family members
• Refrain from purchasing expensive, high tech equipment
• Let your professional hygienist go
Lease the smallest possible office
• Invest in mutual funds
While these are common sense suggestions that make greater and lesser degrees of financial sense, at Lifecycle Wealth we view taxes as your biggest overhead expense and believe that effectively reducing your tax load is where any long-term financial plan must begin and end. Our goal as tax advisors for dentists is not simply for you to keep more of what you earn, but to put the money you save on taxes to work funding your lifestyle and generating additional wealth.
When you engage Lifecycle Wealth’s tax advisors for dentists you’ll be introduced to our three step process for evaluating and realigning your current financial approach.
Step 1 - We begin by putting your current financial plan under the microscope in order to pinpoint unproductive aspects. We sift through your current strategy and identify where and why you are paying more tax than you should.
Step 2 - We identify ways to reduce your tax burden and put the savings to work generating wealth and then integrate these changes into your financial plan.
Step 3 - We take the long view and determine what results you can reasonably expect from your current plan and then compare that to results from our modified, Lifecycle Wealth plan. The results are usually an eye-opening experience for our new clients and demonstrate the power of our methods of tax reduction and financial refocusing.
The Lifecycle Wealth Plan is not a quick fix intended to generate a large one-off tax refund. It is a comprehensive reassessment of your financial plan that takes a life-long, holistic approach to wealth creation. Our goal is to free you from the burden of unnecessary taxes over the long haul and repurpose and refocus all of your assets toward the larger goal of wealth creation. Not only will you double your wealth but you’ll simplify your financial situation and have more money to underpin your current lifestyle. We call the resulting elevation of your financial reality “the art of living well” and once you experience it, you’ll realize why we are considered the premier tax advisor for dentists, medical professionals and high income individuals in the Toronto area.