Tax Planning for Salaried Physicians: Should I contribute to a spousal RRSP?
If you’re a practicing physician who’s paid a salary, you’re probably familiar with Registered Retirement Savings Plans, or RRSPs. But have you considered how a Spousal RRSP might fit in your plans? Tax Planning for Salaried Physicians: Should I contribute to a spousal RRSP? While an RRSP account can help you save for retirement, a […]
Tax Credits and Deductions for Medical Residents
When you’re focused on your medical/dental career, income taxes may not be top of mind, but you don’t want to miss out on tax planning for your high net worth future career, tax credits and deductions for Medical Residents that could save you money when you file your return. Tax credits or deductions for Medical […]
Accounting Services for Physicians
You have devoted years of your life as a Physician in developing your abilities, gaining knowledge, and establishing a prosperous medical practice. But it’s important to keep in mind that managing a medical practice entails more than just offering top-notch medical treatment. Medical practices need strong financial management to succeed, just like any other type […]
Accountant for Doctors
Abdullah CPA is a specialist Accountant for Doctors in Canada and provides comprehensive Accounting Solution for your Medical Professional Corporation. You understand the challenges of practicing medicine. Abdullah CPA will be your valuable partner to provide insight and together proceed confidently to achieve your financial dreams from Medical residency to establishing a practice to Retirement. […]
Quick accounting method GST/HST
The quick accounting method Gst/HST was introduced by Canada Revenue Agency (CRA) to help small businesses calculate their net tax for GST/HST purposes in a simplified manner. When you use the GST/HST quick method for your business, you still charge the applicable GST and HST on your supplies of taxable goods and services. However, to calculate the amount […]
Capital Gains Surplus Stripping for Physicians: A Brief History and Recent Developments
Capital gains surplus stripping refers to tax strategies that let you distribute cash from your corporation as a capital gain instead of pulling the cash out as dividends, which are more highly taxed. A Guide to Capital Gains Surplus Stripping for Physicians: A Brief History and Recent Developments. Here’s one way this tax strategy works, […]