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John Moore CPA,CA
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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
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
Posted in Business Professionals, Health Professionals, Incorporation
Tagged investing, RRSP, saving, tax deferral, TFSA
2 Comments
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
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
Posted in Architects, Business Professionals, Businesses, Chiropractors, Dentists, Doctors, Engineers, Health Professionals, Income Tax, Incorporation, Lawyers, Medical Residents, Mortgage Brokers, Optometrists, Professional Corporation, Realtors, Veterinarians
Tagged Dividends, Financial Planning
1 Comment
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
Posted in Architects, Business Professionals, Businesses, Chiropractors, Dentists, Doctors, Engineers, Health Professionals, Income Tax, Incorporation, Lawyers, Medical Residents, Mortgage Brokers, Optometrists, Professional Corporation, Realtors, Veterinarians
Tagged Dividends, Salary, Salary vs. Dividends
5 Comments
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
Posted in Architects, Business Professionals, Businesses, Chiropractors, Dentists, Doctors, Engineers, Health Professionals, Income Tax, Incorporation, Lawyers, Medical Residents, Mortgage Brokers, Optometrists, Professional Corporation, Realtors, Uncategorized, Veterinarians
Tagged income tax rates in canada
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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
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
Posted in Architects, Business Professionals, Chiropractors, Dentists, Doctors, Engineers, Health Professionals, Incorporation, Lawyers, Medical Residents, Mortgage Brokers, Optometrists, Professional Corporation, Realtors, Uncategorized, Veterinarians
Tagged regulated health professions, separate legal entity
3 Comments
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
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
Posted in Doctors, Health Professionals, Income Tax, Incorporation, Medical Residents
Tagged Discussion Group, Forum
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The Professional Edge 