What Practice Owners Get Wrong About Taxes, Finance, and Accounting with CPA Shayan

What Practice Owners Get Wrong About Taxes, Finance, and Accounting with CPA Shayan

If you’re a clinic owner making good money but wondering why there’s never much left, this episode is for you. Rick sits down with CPA Shayan Rashid, founder of SRJ Chartered Accountants, to talk about how healthcare professionals can keep more of what they earn. His firm works with over 500 practice owners across Canada and the U.S., so he’s seen exactly what works and what doesn’t when it comes to profit, taxes, and building real wealth.

They cover how much dentists, physios, and chiropractors actually take home, the most common financial mistakes owners make, and how to legally pay less tax without getting burned. You’ll also hear how to get 100% clinic financing from the bank, how to use real estate to grow your net worth, and what you should review every month to avoid cash flow surprises.

This episode is packed with practical advice you can turn into action right away.

Whether you’re building, scaling, or thinking about selling, this conversation will change how you look at money forever.

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Chapters

(01:00) Introduction and Event Planning
(04:12) Understanding Healthcare Practices and Profitability
(06:46) Financial Strategies for Healthcare Professionals
(09:51) Tax Planning and Capital Gains Exemptions
(12:47) Profit Margins in Chiropractic and Physiotherapy
(16:05) Economic Resilience in Healthcare
(18:48) Innovation and Value Addition in Practices
(21:57) Common Financial Mistakes by Practice Owners
(26:05) Managing Profits and Tax Responsibilities
(29:17) The Importance of Regular Bookkeeping
(32:44) Key Metrics for Financial Health
(38:45) Understanding Business Deductions and Tax Strategies
(48:50) Navigating Corporate Deductions
(50:59) Understanding Audit Triggers
(53:53) Funding Your Practice: Options and Strategies
(60:54) Buying vs. Building a Practice
(01:07:51) The Importance of Financial Records