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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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Young physicians and financial health: Getting the right diagnosis
Young physicians at the beginning of their careers are well-versed in the workings of the human body, but usually have lots of basic questions when it comes to the fundamentals of running a
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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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