Accountants

Read more about the article Medical Professional Corporations & Tax Benefits
Business / Corporations / Professional Corporations / Tax Planning

Medical Professional Corporations & Tax Benefits

Ontario allows regulated health practitioners to incorporate and reap the benefits of operating through a corporation. This means that Physicians, Dentists, Surgeons, Audiologists, Dental Technicians, Psychologists, Nurses, Midwives, Chiropractors, Physiotherapists and Massage Therapists to incorporate their practices. In addition, other professionals such as veterinarians, social workers, and lawyers are also permitted to incorporate and take advantage of the same tax benefits explained…

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February 7, 2013
Read more about the article Tax Tip: Incorporate & Split Income
Tax Tips

Tax Tip: Incorporate & Split Income

Here is a proven strategy to reduce your overall tax bill by incorporating your business. The top personal tax rate in Ontario is 45% on income over $132,000 and 48% on income over $500,000. For small business corporation, the tax rate is 15.5% and the personal rate for dividends is quite attractive. By incorporating your business and issuing shares to yourself and…

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January 26, 2013