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That consolidation of dental offices under banners was weird. I used to go to one that became a "Dental Choice" in Edmonton. Fuck, I think they went through 5 dentists in the few years I was there. It was silly.This quote is hidden because you are ignoring this member. Show Quote
Then the one time I had an emergency they wouldn't slot me in. I rage quit on them. Fucking revolving door of 6-figure professionals. I had 3x more staff stability with a hair salon than them!
https://dailyhive.com/calgary/buon-g...calgary-closed
Never tried them under new management during last 4 years but previous owner's food was underwhelming.
And they spend like it will never end. Just like Doctors.This quote is hidden because you are ignoring this member. Show Quote
I happen to know a few doctors who actually applied for the $40K CEBA and the 75% CEWS in their professional corps to help cover the wages of family. And some have cut wages of their office admin staff because "well if I have to take a pay cut..."
^Even if you have savings, why would you not take advantage of the business loan and wage subsidy programs if you meet the requirements, i.e., your work has fallen below the certain percentage? I am confused by cover the wages of family part though? Are you saying they applied for these incentives just to give their families extra money? In that case, obviously not right. But if their work genuinely went down below the minimum level, then I don't see anything wrong with.
Doctors and dentists will always be in demand. You cannot replace them anytime soon. Other lines of business like sales, marketing, etc. are expendable. So if I were a doctor, I hardly be concerned over loss of income for the short term. Id spend and invest like crazy.This quote is hidden because you are ignoring this member. Show Quote
Originally posted by beyond_ban
Yo Kanye, ima let you finish, but 50 Cent had the best concert cancellation of all time.
I fail to see anything wrong with this. Unless you think that's the risk of running a biz and we should just fold.This quote is hidden because you are ignoring this member. Show Quote
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Company Name: Roam Mobility
Date: Ceasing Operations June 30, 2020
Type of bankruptcy: Closure of business
Honda Dealer(y/n): No
https://boereport.com/2020/05/29/ceq...ng-proceeding/
Cequence into CCAA
Originally posted by Thales of Miletus
If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
Originally posted by Toma
fact.This quote is hidden because you are ignoring this member. Show Quote
I'm assuming it's part of the professional corp income splitting strategy doctors use, at least if their family members aren't working. Corporation pays family members a salary, and the corporation claims the deduction. Traditionally a doctor would pay their spouse to be the 'office manager' or something (the professional corp's mail gets delivered to the home office, they sort it, that's office managing) which has say, a $4K/month average wage in Alberta so that's a reasonable wage to claim. Professional corp gets taxed less, and you take advantage of the spouse's lower tax bracket so that gets taxed less. Because it's a salary you can take advantage of RRSP room as well if you're getting into a higher tax bracket with the family salaries.This quote is hidden because you are ignoring this member. Show Quote
If the professional corp has reduced income, I guess it could fall into the workplace subsidy, even if that probably isn't the spirit of the system. The other way to pay family to avoid tax is through dividends in the corporation, but that wouldn't be covered by anything.
Ah yes, the ol' Office Manager or Bookkeeping shtick.
Ultracrepidarian
This is what happens when people write bad laws and government programs and don’t think through the consequences and outcomes.This quote is hidden because you are ignoring this member. Show Quote
Trudeau doesn’t even care about Covid fraud anyway. MOAR SPENDING.
Originally posted by Thales of Miletus
If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
Originally posted by Toma
fact.This quote is hidden because you are ignoring this member. Show Quote
You should have a look at the new laws around this.This quote is hidden because you are ignoring this member. Show Quote
CRA has been cracking down on the fake family jobs in recent years. Of course by "cracking down", it just means that 1) the wage has to be plausible for the job title, and 2) you have to be able to prove that work was actually done. Still a ton of leeway there.
I can eat more hot wings than you.
What the hell is a fake family job?
Wife/kids listed as employees earning a wage, when they aren't.This quote is hidden because you are ignoring this member. Show Quote
My buddies wife is employed as a full time book keeper for his business. She might do an hour's work a week.
Say you have your own business and your kid is going to college and you want to help them out since they aren't working and you want to support them so they don't take student loans.This quote is hidden because you are ignoring this member. Show Quote
You 'hire' the kid as your tech support, or secretary, or whatever. Pay them 20$ an hour, 20 hours a week and then deposit that money into their account each month for school expenses / tuition / partying / whatever. The kid never actually goes into work or do anything but thanks to their low income they pay basically nothing in taxes. So it's cheaper than the parents taking the income and gifting money to their kid.
20$ / hr * 20hrs per week for a year is 20,800$. For a AB resident that would mean 782$ paid in taxes and 1,237$ in cpp/ei deducated .... so effectively a 10% tax rate which is much better than what the parents would be paying.
Completely opposite from real family job. Where you work more hours than you’re paid.This quote is hidden because you are ignoring this member. Show Quote
Updated: March 10, 2022
My list of random For Sale (some free) stuff
If you're even paid at all...This quote is hidden because you are ignoring this member. Show Quote