If your corporation’s income is taxed at a low tax rate of say 12 per cent, it means $88 out of every $100 of practice income is retained in the corporation. The tax deferral benefit will have a huge impact on your retirement savings. Suppose … [Read more...]
Just for Doctors Newsletters
19
Nov, 2018 How Corporate Tax deferral can help you retire seven years earlier
November 19, 2018 by
5
Nov, 2018 Cutting your taxes in half
November 5, 2018 by
No longer able to sprinkle company dividends among family members in the low tax bracket, many doctors are bracing themselves for a big hike in personal taxes on their dividend income from their corporations. There is a tax strategy that lets … [Read more...]
5
Nov, 2018 Income splitting tips for 2018
November 5, 2018 by
Doctors are braced for a steep hike in personal taxes this year when they are no longer able to split income with family members the way they used to. On January 1, 2018, the “tax on split income” (TOSI) rules became effective. This severely … [Read more...]
5
Nov, 2018 Habits to Help Achieve Financial Success
November 5, 2018 by
Plan before you act. As a doctor, you are equipped with the skills you need to give your patients the best treatment. But stellar medical treatment alone, does not guarantee financial success. For that, you need a vision of how to achieve both … [Read more...]
