$61,000 Tax Write off for Electric Vehicles in Canada; Abdullah CPA
The Incentives for Zero-Emission Vehicles (iZEV) Program and tax write offs for electric vehicles in Canada are helping to make it more affordable. Types of Federal Incentives There are two types of Federal incentive programs available: As long as a vehicle (the year, make, model, and trim) appears on the list of eligible vehicles, an incentive can be […]
The Importance Of Monthly Bookkeeping For Your Business
We have met with many business owners over the years, and at times, the finance function takes a back seat to growth/operations. Some business owners believe that the finances, importance of monthly bookkeeping and back-office can occur once per year (i.e. a large catch-up project) rather than completing tasks on a more frequent cadence. This […]
How to Pay Yourself as a Business Owner
Managing personal compensation as a business owner in Canada demands a comprehensive understanding of the intricate financial and tax landscape. Determining an appropriate salary and exploring diverse payment methods involve navigating complex tax and legal considerations. In this blog post, we will provide you with a guide on how to pay yourself as a business […]
How to Move your medical professional corporation to another province
If you’re thinking how to move your medical professional corporation to another province or territory, here is how to do it. An existing medical professional corporation can be moved from one province to another if it satisfies the rules in the province it is moving to. Multiple rules must be satisfied and doing so may […]
How a CPA Accountant Benefits Physicians: Ensuring Financial Health and Compliance
Physicians face unique financial challenges and complexities due to the nature of their profession. With a demanding workload and a focus on patient care, managing finances and staying compliant with tax and regulatory requirements can be overwhelming. In this blog post, we will explore the advantages of hiring a specialized accountant for physicians. From maximizing […]
4 things life insurance can do for incorporated physicians
In medical school or residency, buying life insurance was a smart move to protect loved ones, especially if your debts outstripped your financial resources at the time. But once family finances become more secure, in step with a successful medical practice, the role of life insurance may shift to safeguard other goals: to build net […]