Why TOSI hits doctors harder
Why TOSI hits doctors harder Key takeaways The excluded-shares exception to TOSI is not available to a medical professional corporation because it is a professional corporation under the Income Tax Act. That means a doctor cannot use the simplest income-splitting...
Selling a dental practice: the lifetime capital gains exemption
Selling a dental practice: the lifetime capital gains exemption Key takeaways The Lifetime Capital Gains Exemption for 2026 is $1,275,000 on qualifying shares. A share sale qualifies for the exemption. An asset sale does not. Goodwill on an asset sale is Class 14.1 at...
How much tax does incorporating save a veterinarian
How much tax does incorporating save a veterinarian Key takeaways A veterinary corporation pays about 11 percent on the first $500,000 of active income, compared to a top personal rate above 50 percent. Income above $500,000 in a corporation is taxed at about 27...