How dividends are taxed in Canada
Dividends are a useful way to pay yourself through your company. Here’s how dividends are taxed in Canada to make sure you’re optimizing your tax savings. Dividends can be a good way to pay yourself through your company, and indeed, many physicians choose to pay themselves in dividends from their medical professional corporation, rather than […]
Should I incorporate my medical practice?
Every self-employed physician should ask themselves these questions to help decide whether to incorporate their medical practice. Get started. Every self-employed physician has an important decision to make as they move ahead with their career: whether to incorporate their medical practice. Incorporation is the process of creating a separate legal entity, the corporation, that becomes […]
Tax Guide for Medical residents in Canada
If you’re an internationally-trained medical graduate arriving in Canada — welcome! Also a Tax Guide for Medical Residents in Canada. While unpacking boxes, setting up your practice, and finding a place to live will be highest on your “to-do” list, learning at least the basics of the Canadian tax system can lead to big tax […]
Tax Preparation Packages Built For Medical Doctors.
Employee Tax Return Package Who Its For: Residents, Fellows & Salaried Physicians A complete package that includes consulting services for your tax and financial needs and preparation of your tax return to minimize paperwork and maximize your available employment deductions. What You Get: Package Price $350 Residents, Fellows, & Salaried Physicians Contact Us Self-Employed Physician […]
Medical Residents & Fellows Tax Tips
You have finished your medical degree – congratulations are definitely in order! This is indeed a monumental achievement, and one of the great aspects of achieving this degree is the prospect that now you are going to begin medical residency. In order to help medical residents with their tax returns and make the season as […]
Tax Deductions and Credits for Resident Physicians: Abdullah CPA
Being aware of the tax breaks that you may qualify for as a resident physician can help minimize the taxes you pay. Both tax deductions and tax credits reduce the amount of tax you pay. The difference is with tax deductions, the higher your marginal tax bracket (i.e., the higher your income), the more the […]