When should a doctor incorporate after residency
When should a doctor incorporate after residency Key takeaways The benefit of incorporation is proportional to the income you retain in the corporation at about 11 percent versus paying personally at above 50 percent. A new physician billing under $100,000 a year...
IPP vs RRSP for physicians over 50
IPP vs RRSP for physicians over 50 Key takeaways The RRSP limit for 2026 is $33,810 and is the same regardless of age or income. An Individual Pension Plan is corporate-funded and contribution room rises with age and past service. An IPP requires a T4 salary, you...
Should your dental hygienist be payroll or contractor
Should your dental hygienist be payroll or contractor Key takeaways The CRA uses the RC4110 test of control, tools, profit, and integration to decide employee vs contractor status. An in-practice hygienist who works set hours in your clinic with your equipment is...
Salary or dividends for an incorporated physician
Salary or dividends for an incorporated physician Key takeaways Only salary creates RRSP room and CPP contribution history for the physician. Dividends do not create RRSP room, do not count as earned income for CPP, and do not generate contribution room for future...