Category Archives: Incorporation

Incorporating Your Startup

A corporation is the most common business structure in Canada.  There are many benefits to incorporating your business, including income tax, legal and funding considerations. To fully understand the advantages of incorporation, it is helpful to possess a basic understanding … Continue reading

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Save More with a Professional Corporation

Like the TFSA and RRSP, the professional corporation is an important tool for investing and saving. By incorporating your practice or business and investing unused funds within the corporation, you will end up with significantly more money in the future … Continue reading

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Income Splitting With A Professional Corporation Can Save You Thousands

Income splitting with wages can save you thousands of dollars. Income splitting with dividends from a professional corporation can save you tens, even hundreds, of thousands of dollars. My last post explained how income splitting works. In this post, I am going to provide examples of the … Continue reading

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Incorporation Benefit – Income Splitting

In my ongoing series on professional incorporation, I’ve discussed what a professional corporation is (a distinct legal entity) and which professions allow incorporation (doctors, dentists, lawyers and realtors among many others). I’ve shown how the lower corporate tax rates can assist a … Continue reading

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Incorporation – Taxation of Salary and Dividends

In my last post, I discussed the lower tax rates on professional income earned in a corporation. In BC, any professional income that you earn personally in excess of $132,000 is taxed at 43.7%.  In a professional corporation, the first $500,000 … Continue reading

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Incorporation Benefit – Lower Income Tax Rates

As I noted previously, there are several benefits to incorporating your practice. One of the greatest advantages of a professional corporation is access to lower income tax rates. In Canada, we have a progressive tax system.  As you earn more … Continue reading

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Professional Corporations – Why Incorporate?

In my last post, I discussed which professions can incorporate in British Columbia. But why would you want to incorporate your practice? Because the other doctors or dentists in your clinic have incorporated, or the other lawyers in your office have … Continue reading

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Professional Corporations in British Columbia

What is a professional corporation? A corporation is a separate legal entity. It can earn income, enter into contracts, purchase real estate, investments and other property, and pay taxes. There are two main types of companies in Canada. A public company generally … Continue reading

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Incorporation – A Brief Introduction

INCORPORATION. It’s a term that most business owners and professionals are familiar with. Almost everyone knows of someone who has incorporated, is thinking about it, has been told to do it, or wants nothing to do with it. Over the years, … Continue reading

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Incorporation for Physicians – Information for Medical Residents and Doctors

Incorporation is a term most physicians and other professionals are familiar with, but may not fully understand. Almost every physician knows someone who has incorporated, is thinking about incorporation, or has been advised to incorporate. But what is incorporation? Why incorporate? When? … Continue reading

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