What Happens to Your Medicine Professional Corporation When You Retire?
What Happens to Your Medicine Professional Corporation When You Retire?
Author: levinefinancial
Advanced Planning to reduce tax
On June 25th the Liberal government quietly passed Bill C-74. This legislation brings new rules on income splitting and limits access to the small business deduction where passive investment income exceeds $50,000 a year. Below is a summary, the impact and advanced planning solutions. The small business tax rate is 13.5% on the first $500,000 of active business income and 26.5% thereafter. Income from passive investments is taxed at 50.17%. Under Bill C-74, income subject to the small business tax rate…
Estate Planning 102
Advanced Estate planning for physicians
Life Insurance for Physicians
Life insurance for physicians
Long Term Care Insurance for Physicians
Long term care insurance for physicians
Estate Planning 101
As a Physician, you’ve spent the better part of your life building up assets and providing for your family. All too often people don’t think about what happens when they pass away and how to plan. There are two parts of estate planning. First, you need a Will. Second, you need to understand what happens to your assets when you pass away and how can you can plan to reduce the tax burden. A WILL Your Will is your final…