medical-practice-article Archives
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2024 Federal Budget Highlights & Commentary
On April 16, 2024, the Deputy Prime Minister and Finance Minister, the Honourable Chrystia Freeland, presented Budget 2024 to the House of Commons. No changes were made to personal or corporate tax rates. However, the inclusion rate on taxable capital gains has been
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Should you incorporate your professional practice?
Depending on your profession, you may be eligible to have a professional incorporation in Ontario. This article details the status of a number of such particular professions, some of the details behind the legislation that allows this (the Ontario Business Corporations
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The Doctor’s Financial Lifecycle Part 2: Transitioning From Salaried to Self-Employed
Becoming a doctor is no easy feat. We can tell you a few things about the business side of your practice and help get you on the road to financial security. We can help you navigate the tax issues that distinguish the salaried resident from the self-employed
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Why removing tax breaks for doctors is bad medicine
Under current tax legislation, physicians are entitled to split their income with family members, effectively making spouses and children shareholders in their professional corporations. This is known as income splitting, or "income sprinkling." In its
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Building a financially healthy medical practice – Watch the video
Ophthalmologist Dr. Robert Chevrier and his practice manager Lise Chevrier share how GGFL has helped them manage the financial side of their busy practice for over 20
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