Paying family from a veterinary corporation: what TOSI allows
Paying family from a veterinary corporation: what TOSI allows Key takeaways The “excluded shares” exception to the tax on split income is not available to a veterinary professional corporation. Splitting income with family without triggering TOSI relies on...
How much tax does incorporating save a chiropractor
How much tax does incorporating save a chiropractor Key takeaways A chiropractic corporation pays about 11 percent on the first $500,000 of active income. Income above $500,000 is taxed at about 27 percent. The benefit is deferral: income left in the corporation grows...
Selling a pharmacy: the capital gains exemption
Selling a pharmacy: the capital gains exemption Key takeaways The Lifetime Capital Gains Exemption for 2026 is $1,275,000 on qualifying share sales only. On an asset sale, drug inventory is valued and expensed as it is sold, equipment is taxed as recapture, and...