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...
Can your spouse be a shareholder in your medical corporation
Can your spouse be a shareholder in your medical corporation Key takeaways Voting shares of a BC medical corporation must be owned by eligible physicians only. Non-voting shares may be held by family members, including a spouse. Alberta allows spouses, common-law...
Splitting income with family as a dentist: the TOSI rules
Splitting income with family as a dentist: the TOSI rules Key takeaways The excluded-shares exception to TOSI is not available to a dental professional corporation. Dividends paid to family who do not work in the practice are taxed at the top marginal rate, about 54...