As a health care professional, your personal income may be high enough to be taxed at Ontario’s highest personal marginal tax rates.
An often-overlooked issue for incorporated healthcare professionals is the potential for the value of their professional corporation shares to be taxed twice (i.e. “double tax”).
Determining your optimal salary/dividend mix should be reviewed at least annually considering the following.
Are you a US citizen living in Canada? Did you file a US tax return? US citizens are required to file personal tax returns regardless of your residency. Here is another reason to file…. Funds may be available to you, The US government provided economic stimulus payments ranging from $600 to $1,800 in 2020 with an additional payment up to…
If your healthcare practice is setup as a professional corporation, there are tax strategies that you can consider as both a shareholder and an employee of your professional corporation.
In the day-to-day of practising your profession and helping your patients, the business discussions of how you structure and operation your practice can sometimes take a back-seat.
Do US citizens living in Canada still need to file US tax forms?